Category: Appointments

Johns Manville Appoints New President for Insulation Systems Business

Post author By David Mazor
Post date June 19, 2020

(BRK.A), (BRK.B)

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.

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.

Tags Johns Manville

Johns Manville To Have New President & CEO

Post author By David Mazor
Post date June 17, 2020

(BRK.A), (BRK.B)

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.”

Tags Johns Manville

Appointments Berkshire Hathaway Specialty Insurance

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

Post author By David Mazor
Post date June 2, 2020

(BRK.A), (BRK.B)

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.

Tags Berkshire Hathaway Specialty Insurance

Appointments Insurance

Gen Re Names Ulrich Pasdika to Executive Board

Post author By David Mazor
Post date May 7, 2020

(BRK.A), (BRK.B)

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.”

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.

Tags Insurance

Appointments

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

Post author By David Mazor
Post date March 15, 2020

(BRK.A), (BRK.B)

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.

Tags Board of Directors