Warren Buffett applauded The Coca-Cola Company’s revised executive compensation plan today during a live interview with CNBC, saying he feels “as good about my Coke investment as I’ve ever felt.”

"I think the new plan makes great, great, sense," the Berkshire Hathaway chairman and CEO told Squawk Box. Berkshire Hathaway is The Coca-Cola Company's biggest shareholder.

Watch a clip from the CNBC interview.

On Tuesday, the compensation committee of Coke’s Board of Directors announced it had adopted equity stewardship guidelines for the company’s existing 2014 equity plan, further aligning compensation with the long-term interests of shareowners. The equity plan, approved by shareowners at the company’s annual meeting in April, is designed to provide significant flexibility in how and to whom long-term equity awards are made.

Buffett praised Maria Elena Lagomasino, who heads Coke’s compensation committee, and reiterated his confidence in the company’s leadership.

“She’s been terrific on this in terms of thinking through what are we trying to accomplish with the options... and what’s the cost of the shareholders,” he added. “She weighed all the variables and she came up with a terrific plan, so I tip my hat to them."