Category Archives: Appointments

McLane Appoints New President and CEO

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Berkshire Hathaway’s McLane Company, Inc., a leading supply chain services company providing grocery and foodservice solutions, has announced that Tony Frankenberger has been appointed president and CEO, and that Grady Rosier will retire as president and CEO, both effective August 28, 2020.

Rosier has worked for McLane for more than 36 years and has held the title of president and CEO for the last 25 years of that time. His influence has elevated McLane to its position as a world-class leader in supply chain services for the grocery and foodservice industries.

During Rosier’s tenure, McLane has experienced significant market share growth and substantial annual revenue increases from less than $6 billion to more than $50 billion. Its grocery division expanded from convenience stores to other classes of trade, including drug stores, mass market retailers, warehouse clubs, value stores, supermarkets, and alcoholic beverage distribution. Rosier was instrumental in the sale of McLane from Walmart to Berkshire Hathaway in 2003, and he led the charge for a new foodservice division servicing QSR, fast casual, and casual restaurants that quickly became one of the largest in the industry. He has also provided an unwavering commitment to charitable organizations such as Children’s Miracle Network Hospitals and United Way.

“McLane is not just a company to me,” says Rosier. “It has been my passion, and the people at McLane are my family.”

Rosier has made an enormous impact on the supply chain industry and beyond. Prior to joining McLane, Rosier spent more than a decade in various executive roles in the convenience channel. Before that, Rosier had six years of honorable service in the United States Marine Corps and several more in the reserves. He was inducted into the Texas Business Hall of Fame in 2015, and currently serves on the board of directors of NVR, Inc. and NuStar Energy. Rosier earned his Bachelor of Arts from the University of Florida.

Tony Frankenberger will assume leadership of McLane as president and CEO on August 28, 2020, while maintaining his responsibilities as president of McLane Grocery, a $33 billion business unit providing supply chain solutions to over 70,000 retailer locations. Frankenberger has worked for McLane for more than 35 years. Shortly after he concluded his service with the United States Air Force in 1985, Frankenberger began his career with McLane as a washer, fueler, and mechanic in the transportation department and worked his way up in the company. Today, he has more than 15 years of senior management experience, including various past leadership positions in merchandising, procurement, and operations. Frankenberger holds a Bachelor of Arts and Master of Business Administration from the University of Phoenix.

“I have personally known Tony for more than 30 years and feel this is a tremendous opportunity for him to continue building the sustainability and growth of McLane into the future,” says Rosier. “He is an exceptional leader with a track record of operational excellence, building high performance teams, and extraordinary customer service.”

Frankenberger’s notable rise through the ranks and steadfast commitment to McLane’s values and beliefs pave his way to success in the new role.

“I am thrilled for Grady, and I wish him nothing but health and happiness in this new chapter of his life,” says Frankenberger. “I am honored to follow in his footsteps at an incredible company with outstanding teammates.”

© 2020 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.

Susan Adzick is New Leader of McLane Foodservice

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Berkshire Hathaway’s McLane Company, Inc., a leading supply chain services company providing grocery and foodservice solutions, announced that Susan Adzick has assumed leadership of McLane Foodservice as president, effective July 20, 2020.

McLane Foodservice’s former president, Tom Zatina, has been named executive vice president and chief strategy officer of McLane Company.

Adzick was promoted to executive vice president and chief operating officer of McLane Foodservice in January, as part of a planned transition to president this summer. Adzick has contributed invaluable leadership to the Foodservice division for more than 20 years.

“When Susan Adzick’s promotion was announced in January, I could not have envisioned the challenging circumstances that 2020 would bring to our business and to our country,” says Grady Rosier, president and CEO of McLane. “During these uncertain times, Susan has demonstrated a steady hand, thoughtful leadership, and unwavering stewardship of McLane’s beliefs and values. Her performance this year has reinforced my confidence that she is the right individual to lead McLane Foodservice.”

Zatina, who served as president of McLane Foodservice for 14 years, also began his new corporate role on July 20, 2020. As executive vice president and chief strategy officer of McLane, Zatina will lead key projects that are critical to driving process improvements and will enhance McLane’s capabilities in meeting current strategic objectives.

“In Tom Zatina’s tenure as president, he has been successful in growing McLane Foodservice into one of the largest foodservice suppliers in the industry,” says Adzick. “His commitment has had an immeasurable impact on McLane, our teammates, and our stakeholders.”

© 2020 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.

Johns Manville Appoints New Chief Financial Officer

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Berkshire Hathaway’s Johns Manville, a global building and specialty products manufacturer, has named Sabine Schmidt as the company’s new Chief Financial Officer, effective on September 1.

“Sabine brings a breadth of financial experience at Johns Manville and in the industry to her new position,” said Bob Wamboldt, President of JM’s Insulation Systems business. “Her expertise will serve JM well as we strive to be the Employer of Choice and Supplier of Choice in the markets we serve. We are delighted Sabine will be part of our leadership team.”

Wamboldt will become JM’s President and CEO at the same time Schmidt assumes her new job. Greg Clarke, JM’s current CFO, will become President of the Insulation Systems business.

“Johns Manville is in great hands with these experienced leaders in their new roles,” said Mary Rhinehart, JM’s President and CEO. “I am confident we will continue delighting our customers, adding value and delivering positive JM Experiences that position JM well into the future.”

Rhinehart will continue as Chairman of Johns Manville when the leadership changes take effect this fall.

Schmidt joined JM in 2006 as the Corporate FP&A Manager. She was later promoted to Finance Director, Engineered Products North America. Schmidt assumed her current job of Director of Finance for JM’s Insulation Systems business in 2012.

In her new role, Schmidt will be responsible for all global financial functions and corporate development activities for the company.

Before joining Johns Manville, Schmidt held several jobs at Fortune 100 automotive supplier Dana Corporation. She began her career in internal audit for both the U.S. and Europe and gained increasing responsibility throughout her six-year tenure there, including jobs as Plant Controller for both an axle assembly plant and unionized drive shaft manufacturing plant. Sabine later worked at Holcim as Corporate Manufacturing Controller and was responsible for all aspects of operations accounting and controllership for 12 cement plants.

© 2020 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.

Berkshire Hathaway Specialty Insurance Appoints New Head of Claims in Germany

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Berkshire Hathaway Specialty Insurance (BHSI) has named Katrin Thiel as Head of Claims in Germany.

“We are pleased to have Katrin leading our claims operation in Germany. With her extensive experience and expertise, she is an excellent ambassador of our Claims is our Product philosophy and will ensure our customers receive the best possible claims service, delivered with great care and compassion,” said Andreas Krause, Country Manager, Germany, BHSI.

Katrin comes to BHSI with nearly 20 years of industry experience. She was most recently Head of Claims at AXA Corporate Solutions in Germany. She holds a law degree from the University of Cologne.

Katrin is based in BHSI’s office in Cologne.

© 2020 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.

Johns Manville Appoints New President for Insulation Systems Business

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Berkshire Hathaway’s Johns Manville has announced that Greg Clarke will become President of the company’s Insulation Systems business, effective Sept. 1, 2020.

Clarke will succeed Bob Wamboldt, who will be JM’s next President and CEO.

Mary Rhinehart, the company’s current Chairman, President and CEO, will retain the role of Chairman.

“Greg is a trusted business partner and a critical member of JM’s leadership team,” Rhinehart said. “He brings a broad base of JM knowledge and experience to this new role and we are confident our Insulation Systems business will continue to succeed under his leadership.”

Clarke was named JM’s Senior Vice President and Chief Financial Officer when he rejoined the company in 2013. In this role, he led JM’s finance organization, global procurement and logistics operations, and corporate development activities. He previously worked for Johns Manville from 1997 to 2002 and was Vice President and General Manager of the company’s Building Insulation and Commercial & Industrial Insulation divisions.

“Greg and I have worked well together over the last seven years, and I look forward to continuing this relationship as he transitions into his new role,” Wamboldt said.

Before returning to Johns Manville, Clarke was Chief Financial Officer and a Director at AeroGrow International Inc., an early-stage consumer products company, and President and CEO at Ankmar, LLC, a building products company. Earlier in his career, he held finance leadership and strategic planning roles at PepsiCo Inc. and The Coleman Company Inc.

“I’m excited about the opportunity to get back to our Insulation Systems business,” Clarke said. “We have an outstanding team and a strong market presence with the most complete line of insulation solutions for commercial, residential, OEM and industrial applications. I know there is a compelling future ahead for the business and I look forward to helping to achieve that vision.”

Clarke earned a bachelor’s degree in economics from Amherst College and an MBA from Columbia University Graduate School of Business. He serves on the AeroGrow Board of Directors and is a member of the Board of Alumni and Friends of the Leeds School of Business at the University of Colorado. He and his family live in Denver.

© 2020 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.

Johns Manville To Have New President & CEO

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Berkshire Hathaway’s Johns Manville has announced that Bob Wamboldt will become President and CEO on Sept. 1, 2020.

Mary Rhinehart, the company’s current Chairman, President and CEO, will retain the role of Chairman.

Wamboldt joined Johns Manville in 2003 and became President of JM’s Insulation Systems business in February 2017. He earlier led the Engineered Products North America and Roofing Systems businesses at JM. Wamboldt is also Chairman of the North American Insulation Manufacturers Association and previously served as president of the Asphalt Roofing Manufacturers Association.

“I have been privileged to lead each of our businesses and learn first-hand the strength of the Johns Manville customer relationships, products, technologies and people,” Wamboldt said. “I look forward to working with the JM team and our customers to make the company even stronger in the global markets we serve. I also want to thank Mary for her leadership and guidance over the years and know I will benefit from her continued support as Chairman.”

Before joining Johns Manville, Wamboldt worked 16 years at PPG Industries Inc., where he held a variety of positions in the company’s Fiber Glass and Coatings divisions. He earned a bachelor’s degree in chemistry from Lehigh University. He and his wife live in Denver.

Rhinehart became Johns Manville’s President and CEO in 2012 and assumed the additional role of Chairman in 2014. Before becoming President and CEO, she was the company’s Chief Financial Officer for eight years. During her more than 40 years with Johns Manville, she also held leadership roles in treasury, supply chain, M&A and human resources, and she managed several of the company’s business units.

“I am immensely proud of JM’s employees and all we have accomplished together,” Rhinehart said. “Johns Manville is an important part of my life, and its continued success is my top priority as we transition to new leadership. I am pleased to hand the company over to such an accomplished JM executive as Bob and am confident he and our 8,000 employees around the world will continue to build on JM’s 162-year track record of success.”

© 2020 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.

Berkshire Hathaway Specialty Insurance Appoints Phil Gardham to Head Medical Stop Loss Division

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Berkshire Hathaway Specialty Insurance (BHSI) has appointed Phil Gardham as SVP, Accident & Health – U.S. and Head of Medical Stop Loss. Phil takes the reins of BHSI’s Medical Stop Loss division from John Snyder, who is retiring after a distinguished industry career spanning more than four decades.

“Phil is a top-caliber industry leader and we are pleased to have him onboard to drive the continued growth of our Medical Stop Loss operation and the expansion of our A&H footprint in the U.S.,” said Sanjay Godhwani, Executive Vice President, BHSI. “We wish John all the best in his retirement and are grateful for his contributions founding our Medical Stop Loss operation and building a stellar team and infrastructure.”

Phil comes to BHSI with more than 30 years of industry experience. He spent 13 years at Companion Life Insurance Company in various roles, including President. Prior to that he was with Munich Re in Princeton, NJ. He began his career at Mercantile & General Reinsurance Company in Toronto, Canada.

BHSI provides Medical Stop Loss coverage across the U.S. Coverage is backed by exceptional underwriting experience, financial strength and BHSI’s commitment to providing excellent claims service that expedites payments to optimize customer cash flows.

© 2020 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.

Gen Re Names Ulrich Pasdika to Executive Board

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Berkshire Hathaway’s Gen Re has announced that Ulrich Pasdika has been appointed to the Executive Board of General Reinsurance AG, effective 1 August 2020.

General Reinsurance AG is Gen Re’s German legal entity and the main risk carrier for its international business.

The appointment comes as part of Gen Re’s succession plan for its long-standing Head of International Life/Health business, Winfried Heinen, whose forthcoming retirement was announced earlier this year. Mr. Heinen will continue to serve in his roles until 31 July 2020.

Ulrich (Uli) Pasdika is an experienced re/insurance executive who has been with Gen Re for close to 20 years. He will continue to be responsible for the recently created Life/Health business segment Europe, Latin America and MENA. Prior to this role, he led Gen Re’s Life/Health business in Germany and headed-up the international Research & Development team – a core unit that combines underwriting and actuarial resources and underpins Gen Re’s successful risk management and product development services.

Mr. Heinen stated “I am very pleased about this move. Uli and I have worked closely together for almost two decades. During this time, he has played an instrumental role in building our franchise in the German market. In addition, in recent years he has spearheaded our digitisation and insurtech activities. He embodies both Gen Re’s traditional strengths and values and our focus on the future.”

Charlie Shamieh, Gen Re’s Chairman, said “I’m delighted about Uli’s appointment. His vast experience and strong expertise in the international protection markets, in combination with his unwavering client focus, make him the ideal candidate for this position.”

© 2020 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.

Former American Express CEO Kenneth Chenault Nominated to Berkshire Hathaway Board, Bill Gates Off

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Berkshire Hathaway’s board of directors will have a new member and lose an old one as of the upcoming annual meeting on May 2.

Kenneth Chenault, the former CEO and Chairman of American Express from 2001 until 2018, and the third African American CEO of a Fortune 500 company, will join Berkshire’s board.

Chenault is 68, making him a relative youngster as far as Berkshire goes.

Berkshire Hathaway owns just over 18% of American Express stock.

Meanwhile, longtime board member Bill Gates is stepping down. Gates has been on Berkshire’s board since 1991.

“I have made the decision to step down from both of the public boards on which I serve – Microsoft and Berkshire Hathaway – to dedicate more time to philanthropic priorities including global health and development, education, and my increasing engagement in tackling climate change,” Gates wrote on a LinkedIn blog last Friday.

© 2020 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.