Category Archives: Appointments

Kathy Reid Named Head of Casualty, North America, at Berkshire Hathaway Specialty Insurance

(BRK.A), (BRK.B)

Berkshire Hathaway Specialty Insurance has promoted Kathy Reid to Head of Casualty, North America.

“Kathy has been a major driver of BHSI’s growth in the casualty marketplace since our very beginning,” said Sanjay Godhwani, President, North America Region, BHSI. “She embodies the excellent capabilities and strong character that define our team around the globe, and I am pleased to have her in this leadership role where she can have an even greater impact as a leader to our teammates and a partner to our customers and brokers.”

Kathy has more than 25 years of insurance industry experience. She has been Senior Vice President at BHSI since 2013.

© 2022 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.

Berkshire Hathaway HomeServices New York Properties Plans “Explosive Growth” and Appoints New Leadership

(BRK.A), (BRK.B)

A newly appointed New York City-based leadership team will oversee Berkshire Hathaway HomeServices New York Properties’ “explosive growth” across the city, inclusive of exponential agent count and new office locations on the Upper West Side, Downtown Manhattan and in Brooklyn, with more to follow.

Steven James will serve as the New York City brokerage’s president & CEO; Brad Loe has been appointed executive vice president, director of sales. The pair will work alongside Candace Adams, president & CEO of Berkshire Hathaway HomeServices New England/New York/Hudson Valley Properties, and Diane Ramirez, the New York City brokerage’s chief strategy officer – who joined the executive team at the end of last year – to form the company’s leadership team. Adams will continue overseeing all three brokerages (New England/New York/Hudson Valley Properties), while James, Loe and Ramirez will govern the company’s New York City operations.

“With Steven, Brad, and Diane at the helm, BHHSNYP will expand strategically across New York City while creating a productive, inclusive, and professional work environment that also focuses on personal growth and mentorship,” said Adams. “Our goal is to be the absolute best brokerage in New York, knowing that we are leveraging the venerable Berkshire Hathaway brand.”

“No other firm in New York has this caliber of experienced, proven leadership, coupled with the backing of Berkshire Hathaway,” continued Adams. “Berkshire Hathaway HomeServices marries the local, national, and global real estate markets for its clients.”

Berkshire Hathaway HomeServices New England Properties/New York Properties/Hudson Valley Properties is a leading real estate brokerage firm with more than 2,200 REALTORS® in Connecticut, Rhode Island, Manhattan, Westchester, NY, and Hudson Valley, NY.

“This is the right moment…the right brand,” said James. “To be able to create a new platform that addresses what agents do on a day-to-day basis is incomparable. Agents get lost in the shuffle at big companies — or their achievements go unrecognized. Berkshire Hathaway HomeServices diligently works to be particularly agent centric. We are the ideal brokerage for agents who may have long-term concerns about the stability of their career trajectories. Through our work here, we want to be advocates and sounding boards for these individuals, maintaining an open-door policy that fosters growth as well as greatness.”

James and Loe most recently served as executive directors of brokerage development for HomeServices of America, the parent company of the Berkshire Hathaway HomeServices franchise network.

Prior to those roles, James was president and CEO of Douglas Elliman’s New York City brokerage and director of sales for its East Side office. Loe, highly respected as a mentor to his agents for nearly two decades, was executive manager of sales at Douglas Elliman’s 1995 Broadway and 575 Madison Avenue offices.
James and Loe most recently served as executive directors of brokerage development for HomeServices of America, the parent company of the Berkshire Hathaway HomeServices franchise network.

Prior to those roles, James was president and CEO of Douglas Elliman’s New York City brokerage and director of sales for its East Side office. Loe, highly respected as a mentor to his agents for nearly two decades, was executive manager of sales at Douglas Elliman’s 1995 Broadway and 575 Madison Avenue offices.

Just last month, the firm signed a new, seven-year lease for its offices at 590 Madison Ave., almost doubling the size of its current space. James, Loe and Ramirez will work out of this office, effective immediately.

© 2022 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.

Berkshire Hathaway Specialty Insurance Promotes Two to Key Leadership Roles

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Berkshire Hathaway Specialty Insurance has promoted Sanjay Godhwani to President, North America Region, and David Bresnahan has been promoted to Global Chief Operating Officer.

“Sanjay and Dave have been pivotal in the building of BHSI since our launch in 2013, helping to build our product lines, our talented team and our positive culture,” said Peter Eastwood, President and CEO, BHSI. “In their new roles, they will have a continued positive impact on our team and our ability to bring certainty and service excellence to our customers and distribution partners around the globe.”

Sanjay will be responsible for all North America Region underwriting and underwriting support groups, customer & broker engagement, and BHSI’s Global Catastrophe Engineering & Analytics group. Sanjay has more than 25 years of industry experience and is a fellow of the Casualty Actuarial Society. He continues to be based in Boston.

Dave has more than three decades of insurance industry experience. In his new role he will oversee real estate and administration, finance, audit, information technology and operations throughout BHSI’s global platform. He continues to be based in Boston.

© 2022 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.

Chris Brown Out, Lubrizol Names Rinehart Interim President & CEO

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Berkshire Hathaway’s The Lubrizol Corporation has appointed Mary Rhinehart as president and CEO on an interim basis, effective immediately.

Rhinehart currently serves as the chair of Lubrizol’s board. She succeeds Chris Brown, who joined Lubrizol in 2021 to help the company with important work around safety and operational excellence.

Rhinehart also serves as board chair of Berkshire Hathaway’s Johns Manville, a global building and specialty products manufacturer. She became Johns Manville’s president and CEO in 2012 and assumed the additional role of chair in 2014. Prior to these roles, she was the company’s chief financial officer for eight years. During her more than 40 years with Johns Manville, she held leadership roles in treasury, supply chain, mergers and acquisitions, and human resources. She also managed several of the company’s business units.

Rhinehart will lead the search and selection process for a new CEO and will continue to serve as Lubrizol’s board chair.

“It is an honor to serve in this role for a company with such a rich heritage as a leader in the chemical industry,” Rhinehart said. “I look forward to working alongside Lubrizol’s dedicated employees to continue to deliver value for our customers and support our communities.”

© 2022 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.

Kraft Heinz Names CEO Miguel Patricio as Chair of the Board

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The Kraft Heinz Company has announced that the Board of Directors intends to appoint Chief Executive Officer Miguel Patricio as Chair, subject to his re-election at the Kraft Heinz 2022 Annual Meeting of Stockholders.

Current Chair of the Board of Directors Alexandre Behring will retire following the end of his term at the 2022 Annual Meeting.

“We are very pleased with the progress experienced by the Company in advancing its strategic plan during the past few years under Miguel’s leadership and see his elevation to Chair as a natural progression, providing a continuation of strong and consistent stewardship to guide the Company well into the future,” said Alex Behring, Kraft Heinz Board Chair. “I have enjoyed my time working alongside Miguel, the Board, and the Kraft Heinz leadership team.”

“Alex’s contribution to Kraft Heinz has been invaluable and his impact will continue to be felt for many years,” said Miguel Patricio, Chief Executive Officer and Director. “I am truly honored at the opportunity to succeed him as Chair.”

“On behalf of Berkshire Hathaway, I would like to thank Alex for his dedication, leadership, and service to Kraft Heinz. Alex and I have worked closely together since 2013, when we both served on the H.J. Heinz Board, and I know our relationship will extend well into the future,” said Greg Abel, member of the Kraft Heinz Board of Directors and Vice Chair, Non-Insurance Operations of Berkshire Hathaway. “We look forward to working with Miguel as Chair as his vision for the Company’s transformation continues to move the business forward.”

The Company also announced that the Board of Directors has nominated James Park of Fitbit at Google to stand for election at the Kraft Heinz 2022 Annual Meeting.

“I am also thrilled by the prospect of adding James Park to our Board,” Patricio said. “Technology and digital capabilities are extremely important elements of our continuing business strategy. His background and experience will be especially valuable to Kraft Heinz and the Board as we begin the next phase of our transformation.”

James Park, 45, is a technology entrepreneur who co-founded Fitbit, Inc., a connected health and fitness company, that was acquired by Google in January 2021. Mr. Park is Vice President and General Manager, Fitbit at Google. He previously served as Chief Executive Officer, President, and member of the board of directors of Fitbit since 2007, and as chairman of the board of directors from 2015, until its acquisition. He is a leader in the technology industry with a strong track record of ideating and operating successful technology companies. Park was also the co-founder of Wind-Up Labs, Inc., an online photo sharing company acquired by CNET Networks, Inc. in 2005, and Epesi Technologies, Inc. In 2015, he was named to Fortune magazine’s 40 Under 40, an annual ranking of the most influential young people in business.

© 2022 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 gu

Berkshire Hathaway to Swap Board Member on Kraft Heinz Board of Directors

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The Kraft Heinz Company has announced that Alexandre Van Damme, director nominee of Berkshire Hathaway, will retire from the Company’s Board of Directors following the end of his term.

Berkshire Hathaway has indicated that it plans to nominate Alicia Knapp, President and CEO of BHE Renewables, to fill Mr. Van Damme’s vacancy at the Kraft Heinz 2022 Annual Meeting of Stockholders.

“Berkshire Hathaway is delighted to nominate Alicia to the Board of Kraft Heinz – she has shown tremendous leadership during her 20-plus years at Berkshire Hathaway Energy,” said Greg Abel, member of the Kraft Heinz Board of Directors and Vice Chair, Non-Insurance Operations of Berkshire Hathaway. “We are thrilled to add Alicia’s perspective to Kraft Heinz and believe that her experience will be especially relevant and valuable to the Board and the Company’s environmental, social and governance strategy. Additionally, I would like to thank Alexandre for his many important contributions to the Board over the past four years.”

In her role at BHE Renewables, Ms. Knapp, 43, leads Berkshire Hathaway Energy’s unregulated development and commercial management of renewable projects. BHE Renewables owns solar, wind, geothermal, natural gas and hydroelectric projects that produce energy for both the wholesale market and for customers under long-term power purchase agreements.

Ms. Knapp has earned a reputation as a strategic leader with significant operational, risk management and financial acumen. Before her current role, she served as Vice President of Renewable Generation for MidAmerican Energy, where she was responsible for renewable generation operations and electric trading. Prior to this role, Ms. Knapp served as Vice President of Gas Delivery at MidAmerican Energy, where she managed a natural gas business serving more than 750,000 customers, and also General Manager of Project Development at BHE Renewables, where she managed the development and construction of wind and solar farms. She has been with the Berkshire Hathaway Energy family of businesses since 2001 and held roles in risk management, gas trading, and nuclear and renewable project management earlier in her career.

“It is an honor to be nominated by Berkshire Hathaway to the Kraft Heinz Board of Directors,” said Knapp. “I look forward to the opportunity to add value through this position on the Board and support the Company in its impressive transformation.”

© 2022 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 Ups Angela Meyer to Head of Life Sciences, North America

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Berkshire Hathaway Specialty Insurance has promoted Angela Meyer to Head of Life Sciences in North America. She was previously Head of Life Sciences for the Southeastern region of the U.S.

“Angela has played a major role in building our North American Life Sciences portfolio for the last seven years, bringing exceptional technical acumen and creative problem-solving to these complex and evolving risks,” said Steve Harris, Vice President, Casualty, BHSI. “In her new role, she will lead our efforts to further expand BHSI’s presence in the Life Sciences market with our stable capacity, financial strength and CLAIMS IS OUR PRODUCT philosophy.”

Angela joined BHSI in February 2014, and has nearly 20 years of experience in the insurance industry.
BHSI provides Products Liability, Professional Services Liability and Clinical Trials Liability coverage for Life Sciences companies, including multinational programs with local policy issuance capabilities in 170 countries.

Angela will continue to be based in Atlanta.

© 2021 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.

McLane Grocery Names New President

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Berkshire Hathaway’s McLane Company, Inc., a leading supply chain services company providing grocery and foodservice solutions, has appointed Chris Smith as its new President of McLane Grocery, a $33 billion business unit providing supply chain solutions to over 70,000 retailer locations.

Before joining McLane Company, Smith worked at Walgreens Boots Alliance, a global leader in retail pharmacy, as the Senior Vice President – Chief Supply Chain Officer. He oversaw supply chain functions for 9,200 U.S.- based Walgreen stores through 16 distribution centers and 9,000 warehouse employees. Before Walgreens, he served as the Executive Vice President – Chief Supply Chain Officer at C&S Wholesale, the largest grocery wholesaler in the country. Smith has also held senior leadership positions in distribution and logistics with McKesson Corporation, a Texas-based leader in healthcare.

“We are very pleased to have Chris join our team,” said McLane Company CEO Tony Frankenberger. “He brings a wealth of supply chain and logistics leadership experience across diverse industries that will contribute to many areas of our business.”

Smith has a Bachelor of Arts in Economics from the University of Massachusetts Amherst and serves on the board of Phillips Pet Food & Supplies.

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.

Berkshire Hathaway Specialty Insurance Announces Two Promotions in UK

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Berkshire Hathaway Specialty Insurance has promoted Chris Warrior to Head of Executive & Professional Lines in the UK, and named Jessica Kirby as Head of Commercial Management Liability Insurance in the UK.

“BHSI has a rigorous recruiting process that enables us to build our global team with individuals who possess both exceptional capabilities and strong character,” said Vanessa Maxwell, Country Manager, UK, BHSI. “And with our deep bench of talent, we are pleased to be able to give our teammates excellent opportunities to advance in our nimble and always growing organization. I look forward to seeing all that Chris and Jess will achieve for BHSI and our E&P lines customers in their new roles.”

Chris joined BHSI in 2019 as Head of Management Liability for the UK and Ireland. In his new role, he will oversee BHSI’s UK team and portfolio across all Executive & Professional Lines, including Management Liability as well as Professional Indemnity, Cyber and Transactional Liability Insurance. Chris has nearly two decades of experience underwriting in the UK marketplace.

Jess Joined BHSI in 2018 as Senior Underwriter, Commercial D&O. In her new role as Head of Commercial Management Liability for the UK, she will oversee the team and portfolio she has played a critical role in building for BHSI in the UK. Jess has nearly 15 years of experience in the UK Financial Lines market.

© 2021 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’s Berkadia Adds Sales Team to D.C. Metro Office

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In the midst of its record-breaking year, Berkadia, Berkshire Hathaway’s joint venture with Jefferies Financial Group, has added a new investment sales team to its D.C. Metro office, bringing on board Senior Managing Directors Walter Coker and Brian Crivella.

Coker and Crivella are regional leaders in multifamily sales, having executed over 200 sale and recapitalization transactions representing in excess of $15 billion of value and more than 40,000 units across their careers. They join an already robust investment sales team and will serve in a leadership capacity. The team will work closely with Berkadia’s D.C. Metro mortgage banking team and will report to Co-Head of Investment Sales Keith Misner.

“The D.C. Metro area, and the Mid-Atlantic region as a whole, is a mainstay for institutional and private client apartment investment activity. We have seen groundbreaking sales this year and the region is poised to continue to be a sought-after location for investment, which is why it is vital that we have the best talent on our team to support clients looking to transact in the market,” said Misner. “Few people are as experienced in the Mid-Atlantic region as Walter and Brian, and we’re thrilled to add them as leaders to our already powerhouse team in our D.C. Metro office. As we look ahead to what we know will be an incredibly active end of the year, and what we expect to be an equally active start of 2022, we’re confident that we’re bringing the best talent and opportunities to the table to enable our clients to achieve their goals.”

Berkadia has had a record-breaking investment sales year so far, closing more than $12 billion in investments sales across 400 transactions to date. The Mid-Atlantic region alone has totaled more than $1 billion across 35 transactions.

The Mid-Atlantic region alone has totaled more than $1 billion across 35 transactions.

This success comes on the heels of Berkadia’s increased commitment to serving institutional clients, who have played an outsized role in the industry’s post-COVID rebound.

At the start of the year, Berkadia acquired the apartment brokerage arm of Moran and Company, launching Berkadia Institutional Solutions, powered by Moran.

About Berkadia

Founded in 2009 as a 50/50 joint venture between Berkshire Hathaway and Leucadia National Corporation (now known as Jefferies Financial Group), Berkadia is a third-party commercial mortgage servicer, as well as an approved lender for Fannie Mae, Freddie Mac, and HUD/FHA.

The company is among the top Freddie Mac and Fannie Mae multifamily lenders.

Berkadia owes its origins to GMAC Commercial Mortgage Corporation, which was acquired in 2009 by Kohlberg Kravis Roberts & Co., Five Mile Capital Partners LLC, and Goldman Sachs Capital Partners. Christened Capmark Financial, the company had $10 billion of originations in 2008 and a servicing portfolio of more than $360 billion before running into bankruptcy in October 2009.

In a deal approved by the bankruptcy court, Capmark sold its mortgage loan and servicing to the newly formed Berkadia in a deal worth $515 million.

The deal brought Berkshire into the heart of the commercial loan serving business, and the company has one of the largest commercial real estate servicing portfolios.

© 2021 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.