The board of Warren Buffett's insurance and investment company, Berkshire Hathaway, has appoinbted two new directors
Tom Murphy, former chairman and chief executive of Capital Cities/ABC, and Donald Keough, chairman of DMK, were appointed to the board.
The appointments were made in an effort to meet new standards on board independence. In March the New York Stock Exchange (NYSE) proposed tighter governance standards.
Berkshire's seven-person board, which includes Buffett's wife and son, did not meet proposed NYSE standards on independence and has been criticised by some advocates of good corporate governance.
The appointments increase the size of the board from seven to nine, but it is believed the NYSE will want further proof that a majority is independent.
