Photo: Benjamin Moore screengrab
This post has been updated. UPDATE (6/28): The Wall Street Journal obtained a letter from Warren Buffett responding to the New York Post story about a Bermuda cruise that lead to the ouster of Berkshire Hathaway-owned Benjamin Moore’s CEO Denis Abrams earlier this month.
From The WSJ (emphasis ours):
“The recent story coupling a top management convocation on a boat with the decision to make a management change at Benjamin Moore is completely false,” Mr. Buffett wrote in the letter. “I had never heard of the boat trip prior to reading about it in the paper on June 14. There was no reason for you to let me know about the meeting and, if you had, I would have had no objection to it at all.”
The Post, which is also owned by News Corp like the WSJ, says it stands by its story, according to the report.
EARLIER POST: The CEO of a Berkshire Hathaway-owned company was canned by Warren Buffett after treating himself to a Bermuda trip on the company’s dime, the New York Post reports citing sources familiar with the matter.
Benjamin Moore’s CEO Denis Abrams took the trip with a group of employees to celebrate the paint maker posting its first quarterly sales increase since 2007, sources told The Post.
The paper also reports that there were already worker complaints against Abrams before his ouster.
Anyway, here’s how he was booted after his vacation.
Whether or not because of worker complaints, a half-dozen Berkshire officials descended on Benjamin Moore’s North Jersey headquarters last Tuesday to give Abrams his walking papers — and escort the CEO from the building, sources said.
“[Abrams] kept asking what he’d done wrong,” according to an insider briefed on the ouster. “[Berkshire officials] told him to clear his stuff out while they stood and watched every move he made.”
We put in a call to Benjamin Moore for further comment. When we tried Abrams’ office we were told he was not there. We’ll update this post when we hear back.
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