Warren Buffett’s financial assistant, Tracy Britt Cool has been appointed as chief executive officer of The Pampered Chef, a subsidiary of Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B). Ms. Cool will start in her new role effective November 1, 2014.
Buffett’s comment on Cool’s appointment
“I couldn’t think of a better leadership duo at the helm of The Pampered Chef.With Tracy’s experience helping Berkshire companies reach their full potential and Doris’ passion for both The Pampered Chef’s consultants and products, I see great things in the company’s future,” said Mr. Buffett in a statement.
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Cool has been working as financial assistant to Mr. Buffett at Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) for five years. Some of her responsibilities at the conglomerate include conducting investment research, analyzing acquisition opportunities and providing advice to subsidiaries in different industries.
According to Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), Ms. Cool will continue to serve as chairman of Benjamin Moore, Larsom-Juhl and Oriental Trading Company. She will also continue to serve on the board of H.J. Heinz Company.
Cool served as advisor to The Pampered Chef founder
The Pampered Chef is the largest direct seller of high-quality kitchen tools in the United States. The company was established by its chairman Christopher Doris, who served as interim CEO since December 2013. Prior to her appointment, Cool served as advisor to Mr. Doris.
According to Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B), Ms. Cool will continue to work closely with Doris. Both executives will report directly to Buffett.
“I’m thrilled that Tracy is joining our company. I’ve come to respect her leadership immensely, and I look forward to partnering with her to enhance The Pampered Chef’s offerings for our 12 million annual customers and 60,000 independent consultants,” said Mr. Doris.
Commenting on her appointment, Ms. Cool said she felt honored and delighted to serve as CEO of The Pamper Chef. According to her, she is passionate about the company and its ability to improve the lives of its consultants and customers with its innovative products and empowering business opportunities.
“I look forward to working with the team to ensure The Pampered Chef is positioned to continue enriching the lives of all those who are a part of this wonderful organization for decades to come,” said Ms. Cool.
Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) acquired The Pampered Chef in 2002. The company has more than 60,000 independent Pampered Chef consultants worldwide serving 12 million customers. Its headquarters is located in Illinois and it has international offices in Canada, Germany and United Kingdom.