FRIDAY, JUNE 15: Warren Buffet reportedly fired a paint company CEO after he and colleagues allegedly took a trip to Bermuda on the company dime.
The New York Post reports that Mr Buffet — the owner of Berkshire Hathaway and one of the world’s richest men — fired Denis Abrams, CEO of Benjamin Moore in what some at the company are calling ‘Bermuda-gate’.
The Post reports that six Berkshire officials went to Abrams’ office last Tuesday to give him the boot and help escort him out of the Montvale, New Jersey-based headquarters of Benjamin Moore.
“Ironically,” Post reporter James Covert wrote, “the 129-year-old Berkshire-owned paint company, after suffering through five years of shrinking sales in the wake of the housing market collapse, had just recorded its first quarterly sales increase since 2007.
“CEO Denis Abrams reportedly arranged the island getaway to celebrate the achievement, sources said.
“But the Bermuda trip — and an island dinner cruise while there aboard a yacht that some in the party believed was owned by singer Jimmy Buffett — proved to be one of the last acts Abrams would take on as CEO.”