US: Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, has announced that Todd Raba, its president and CEO, will relinquish his position with the company. Effective 13 November 2012, Mary Rhinehart will be the new president and chief executive officer of JM.
"I thank Todd for his leadership. He has worked diligently during a tough economic environment to effectively position the company for future success. Todd spent the last five years focusing on positioning JM for the future and I thank him for the work he did in moving the business forward," commented Warren Buffett, chairman and CEO of Berkshire Hathaway.
Rhinehart is currently the senior vice president and chief financial officer of JM. She has been with the company since 1979. Her background includes management and bottom-line responsibility for a business unit, global treasury and strategic business development, including directing a variety of acquisition activities. She has held finance leadership roles in most of JM's businesses. Additionally, during her career at JM, Rhinehart has had responsibility for compensation, benefits management, community relations, global supply chain and organisational planning.
Rhinehart has spent her long and successful career focusing on the interests of JM employees and customers. "I am proud to have worked for this great company for over 30 years," she said. "Throughout it all we have succeeded as a company due to our people and the powerful relationships we have with our customers. I am excited about this new opportunity and am committed to continuing to move us forward. JM is a great company. We could not have a better owner than Berkshire Hathaway and I could not have a better role model than Warren Buffett."
Buffett added, "Mary is exactly the CEO we like to hire. She is passionate, smart and she truly cares about JM customers and employees. She'll add tremendous value to JM going forward, and I couldn't be more enthused to have her taking on this role after all that she's already accomplished at JM."
