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Comcast executive Steve Burke joins board of Warren Buffett's Berkshire Hathaway

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Burke, who will oversee NBC Universal after the media firm merges into the cable company, is described by Buffett as 'business-savvy and owner-oriented.'

December 23, 2009|By Meg James

It's been a good month for Comcast Corp.'s Steve Burke: Last week he received a new five-year contract as the cable giant's chief operating officer, and on Tuesday he was named to the board of Warren Buffett's Berkshire Hathaway Inc.

Comcast said Burke's new contract recognized his responsibilities as the executive who will oversee NBC Universal after the media firm merges into the cable company. In a regulatory filing, Comcast said the deal, signed Dec. 16, will keep Burke at Comcast until 2014.

Burke "will be responsible for leading the transition planning and integration efforts for the company's recently announced [NBC Universal] joint venture . . . and also supervise the joint venture's chief executive officer," the filing said.

The chief executive of Comcast-controlled NBC Universal is expected to be Jeff Zucker, NBC's current chief. Zucker recently negotiated a new three-year employment agreement.

Comcast said Burke would be eligible for a pay increase at the end of February as part of a companywide program. His base salary in 2008 and 2009 was $2.2 million. As part of the deal, Burke also will get signing bonuses totaling $18 million.

Separately, in naming Burke to Berkshire Hathaway's board, Buffett described him as "business-savvy, owner-oriented and keenly interested" in the Omaha company.

meg.james@latimes.com

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