DENVER--(BUSINESS WIRE)--Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, today announced that Todd Raba, Johns Manville chairman, president and CEO, will relinquish his position with the company. Effective immediately, Mary Rhinehart will be the new president and chief executive officer of
“I am excited about this new opportunity and am committed to continuing to move us forward. JM is a great company. We could not have a better owner than Berkshire Hathaway and I could not have a better role model than Warren Buffett.”
Johns Manville. “I thank Todd for his leadership. He has worked diligently during a tough economic environment to effectively position the company for future success. Todd spent the last five years focusing on positioning Johns Manville for the future, and I thank him for the work he did in moving the business forward,” commented Warren Buffett, chairman and chief executive officer of Berkshire Hathaway.
Ms. Rhinehart is currently the senior vice president and chief financial officer of Johns Manville. She has been with the company since 1979. Her background includes management and bottom-line responsibility for a business unit, global treasury and strategic business development, including directing a variety of acquisition activities. She has held finance leadership roles in most of JM’s businesses. Additionally, during her career at JM, Ms. Rhinehart has had responsibility for compensation, benefits management, community relations, global supply chain and organizational planning.
Ms. Rhinehart has spent her long and successful career focusing on the interests of JM employees and customers. “I am proud to have worked for this great company for over 30 years. Throughout it all we have succeeded as a company due to our people and the powerful relationships we have with our customers,” stated Ms. Rhinehart. “I am excited about this new opportunity and am committed to continuing to move us forward. JM is a great company. We could not have a better owner than Berkshire Hathaway and I could not have a better role model than Warren Buffett.”
Mr. Buffett added, “Mary is exactly the CEO we like to hire. She is passionate, smart, and she truly cares about Johns Manville customers and employees. She’ll add tremendous value to Johns Manville going forward, and I couldn’t be more enthused to have her taking on this role after all that she’s already accomplished at Johns Manville.”
About Johns Manville
Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality products for building insulation, mechanical insulation, commercial roofing, and roof insulation, as well as fibers and nonwovens for commercial, industrial and residential applications. JM serves markets that include aerospace, automotive and transportation, air handling, appliance, HVAC, pipe and equipment, filtration, waterproofing, building, flooring, interiors and wind energy. In business since 1858, the Denver-based company has annual sales of approximately $2.5 billion and holds leadership positions in all of the key markets that it serves. JM employs approximately 7,000 people and operates 45 manufacturing facilities in North America, Europe and China. Additional information can be found at www.jm.com.