(BRK.A), (BRK.B)
Peter J. Liegl, the founder of Berkshire Hathaway’s Forest River, Inc., has passed away. Liegl was a driving force behind the transformation of the RV industry and one of Indiana’s most respected citizens and philanthropists. He is best known for founding Forest River in 1996 and for selling the company to Warren Buffett’s Berkshire Hathaway in 2005, but his legacy in the RV world began long before that.
Liegl’s journey to success began from modest beginnings. After holding various sales and management positions in the RV industry, he co-founded Cobra Industries, a company that went public but saw him ousted. Undeterred, Liegl built his first RV by hand in a barn and sold it outside a Louisville lamp post, marking the beginning of “Where the forest meets the river.” This drive to succeed led him to establish Forest River in Elkhart, Indiana, with a vision to meet a wide range of consumer needs.
Under his leadership, Forest River grew into North America’s largest manufacturer of recreational vehicles, cargo trailers, pontoon boats, and commercial vehicles, including buses and trucks. Headquartered in Elkhart, Indiana, the company employs over 14,000 people across more than 100 facilities.
His management philosophy emphasized empowering employees and always prioritizing the consumer’s needs. As Liegl once said, “We don’t take ourselves too seriously, but we’re very serious about what we do.”
Despite planning a succession for the company, Liegl remained hands-on in the business well into 2024, leading innovation and growth at Forest River.
A proud Elkhart native, Liegl’s philanthropic efforts supported education, healthcare, conservation, and local communities.
© 2024 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 a 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.