OMAHA, Neb.—Berkshire Hathaway says the chairman and CEO of its building products company is leaving Johns Manville, and will be replaced by the company’s current chief financial officer.
Warren Buffett’s company offered no explanation Tuesday for Todd Raba’s departure from Johns Manville after five years leading the company.
Senior Vice President Mary Rhinehart will be promoted to the top job at Johns Manville. She has been with the company that makes and sells different kinds of insulation and roofing materials since 1979.
Buffett praised both Raba and Rhinehart in statement announcing the change.
Denver-based Johns Manville generates about $2.5 billion in annual sales for Buffett’s Omaha-based Berkshire.
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