(BRK.A), (BRK.B)
There is a major leadership change at Berkshire Hathaway’s Lubrizol. Chris Brown has replaced Eric Schnur as CEO, and now has the title of President and Chief Executive Officer.
Schnur had served as chairman, president and chief executive since 2017.
As of this writing, Lubrizol has not issued a statement about the change in leadership, but has removed Schnur’s bio and his “Message from Lubrizol’s CEO” page from its website.
Lubrizol has been snakebit with fires recently, with a major fire destroying a Lubrizol plant in Rouen, France in September 2019, and its Chemtool plant in Rockton, Illinois, was gutted in a blaze on Jun 14, 2021.
The Chemtool fire has been determined to have been caused by a leak of mineral oil from piping in the area of work being performed by an employee of an outside contractor working on an insulation replacement project.
© 2021 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway and BYD, 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.