Mon September 30, 2013
Berkshire Hathaway paint unit loses CEO again
OMAHA, Neb. (AP) — Berkshire Hathaway's paint company is looking for a new CEO for the second time in a little over a year.
Benjamin Moore paints said Friday that Bob Merritt had left the company. Merritt took over the Montvale, N.J., based firm in July 2012.
Benjamin Moore didn't offer any explanation for the departure of Merritt, who previously led Outback Steakhouse Inc.
Changing leadership often is unusual for Berkshire subsidiaries because the conglomerate's CEO Warren Buffett rarely gets involved with day-to-day operations of Berkshire companies.
Buffett even jokes that he delegates almost to the point of abdication at Berkshire, which lets the company largely run itself. Buffett didn't immediately respond to a message Monday morning.
Benjamin Moore says it expects to announce a new CEO in the coming week.
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