See’s Candies Turns to Electric Utility Executive as New CEO

(BRK.A), (BRK.B)

Everyone knows that candy gives you energy. Apparently, it literally works that way at the highest levels of confectioner See’s Candies, as the company has picked an electric utility executive to energize sales as its new CEO.

Berkshire Hathaway’s See’s Candies has announced that CEO Brad Kinstler will be retiring in the Spring of 2019, and has selected Pat Egan, currently Sr. Vice President of NV Energy, another Berkshire Hathaway company, as his successor.

Mr. Egan will begin his involvement with See’s on November 12, 2018, working with Mr. Kinstler to transition into the role of President and CEO.

Mr. Kinstler has been President and CEO of See’s since January 2006, and will retire the end of April 2019, having worked in various roles with Berkshire Hathaway for 32 years.

Mr. Egan becomes only the third CEO of See’s since it was acquired by Berkshire Hathaway in 1972.

© 2018 David Mazor

Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.