(BRK.A), (BRK.B)
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.