Berkshire Hathaway's CEO Tracy Britt Cool announced her departure from the investment firm to create her own company with her mentor Warren Buffett's business model.
Cool, who originally joined Buffett's company in 2009 as its financial assistant, said she started her own business that will acquire businesses "too small for Berkshire," the Wall Street Journal reported Wednesday.
"I want to build a long-term platform and a long-term vehicle to acquire and build businesses," Cool said in an interview with WSJ. "There are companies that I think are of great value in helping them get to the next level, but they are too small for Berkshire."
Buffett has always had the Harvard Business School degree with high attention. "Everything I've assigned to her, she's done a first-class job at," he told WSJ.
After graduating from Harvard, Cool joined Berkshire Hathaway because she told the billionaire investment mogul that she would work "a day, a week, a month" and "do something." Within a few years, she became Buffett's right woman at the age of 25.
Five years later, Cool was named CEO of Pampered Chef, a Berkshire subsidiary. [1
Cool played an important role by increasing the number of women in Berkshire, paving the way for Susan Decker, Charlotte Guyman and Meryl Witmer, who are currently sitting on its board.
"It's the year for the woman, and I think we do a good job at many different companies and I think Berkshire is no different," she told Fox Bus iness Liz Claman last year.
Meanwhile, WSJ reported that Cool will also resign from the board of Kraft Heinz during the first quarter of 2020, but she is expected to remain on Blue Apron's board.
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