Oct. 28--The Pampered Chef said Monday that Tracy Britt Cool, a financial assistant to Warren Buffett, is becoming CEO of the Addison-based direct sales company, which is owned by Buffett's Berkshire Hathaway.
Cool, 30, joined Berkshire Hathaway in 2009 and has worked in areas such as investment research, analyzing acquisition opportunities and advising various Berkshire subsidiaries, the company said. She had been advising Pampered Chef Founder and Chairman Doris Christopher over the past year and is set to become Pampered Chef's CEO on Nov. 1.
Christopher had been serving as Pampered Chef's interim CEO since December and will continue to work closely with Cool, with the pair reporting directly to Buffett.
"I couldn't think of a better leadership duo at the helm of The Pampered Chef," Buffett said in a statement. "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."
Cool will remain chairman of three Berkshire Hathaway companies: paint retailer Benjamin Moore; picture frame company Larson-Juhl; and online party supplies retailer Oriental Trading Co. Cool also will keep her seat on the board of H.J. Heinz.
The Pampered Chef has 60,000 independent consultants who sell a variety of kitchen gadgets through direct sales methods such as in-home parties. The company said it has 12 million annual customers.
The Pampered Chef's profit fell in 2013, according to Berkshire Hathaway's annual report.
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