Johns Manville announces new president and CEO

Johns Manville (JM), a Berkshire Hathaway company and global building products manufacturer, has announced that Todd Raba, Johns Manville chairman, president and CEO, will relinquish his position with the company, effective immediately. Mary Rhinehart will become the new president and CEO of 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 CEO of Berkshire Hathaway.

Rhinehart is currently the senior VP 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, Rhinehart has had responsibility for compensation, benefits management, community relations, global supply chain and organizational planning.

Rhinehart has spent her 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,” said Rhinehart. “I am excited about this new opportunity and am committed to continuing to move us forward.

Johns Manville 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.