Johns Manville Executive Honored With Chief Financial Officer of the Year Award

Johns Manville (JM), a leading global manufacturer of an extensive line of energy-efficient building products, recently shared in the honors when Mary Rhinehart, JM’s senior vice president and chief financial officer (CFO), was awarded the CFO of the Year Award for the large private company category by the Denver Business Journal.

“I am honored to receive this award and must credit the members of my team who have worked so hard to ensure our company’s continued success as well our customers who make it all possible,” said Rhinehart. “I have been blessed with many opportunities, as well as challenges along the way, which have helped me learn, grow and develop, both professionally and personally.”

The Denver Business Journal honored eight financial chiefs from Colorado during an awards ceremony in April, ranging from CFOs at small, medium and large companies, as well as the nonprofit sector. This marked the first year the publication has bestowed a CFO of the Year Award.

The judges cited Rhinehart’s business acumen when awarding her with the honor, pointing to the fact that she is helping to steer JM through one of the worst housing downturns in decades. The cyclical nature of JM’s business, which is in part reliant on housing starts, required Rhinehart and her team to work swiftly and smartly to minimize downdrafts from a housing market in severe decline as well as unprecedented inflation spurred by global demand.

“I’ve been through business cycles before. We had to remain disciplined, focusing on costs and looking for ways to grow revenues and maintain margins during a difficult environment,” Rhinehart said. “It is much easier to lead and grow a company during boom times; it’s much harder to manage when business conditions are tough. We are very proud and honored to have the distinct advantage of being a Berkshire Hathaway company. Mr. Buffett’s understanding of the cyclical nature of our business as well as his philosophy of investing for the long-term allows us to focus on our customers and our core businesses during these tough times.”

The judges also pointed to Rhinehart’s extensive community involvement, which includes work with Craig Hospital, the Kempe Foundation, the Colorado Forum and the CFO Council of the Conference Board. Rhinehart also served for more than a decade as the head of the Johns Manville Fund, the company’s U.S. and Canadian philanthropic foundation.

At Johns Manville, Rhinehart currently oversees the company’s global finance function, including accounting, auditing, treasury, financial planning and analysis, tax, corporate governance and business development. In addition, she also serves as the company’s head of global supply chain, overseeing work with Johns Manville’s suppliers, vendors and business partners. Rhinehart has served in that dual capacity since 2004, in part because she has developed and cultivated strong relationships with JM’s suppliers and business partners during her nearly three decades at the company.

Since joining JM in 1979, Rhinehart has served as CFO, corporate treasurer, vice president of human resources, compensation and benefits leader, and vice president and general manager of a business unit.

Rhinehart attributes her success at JM to, among other attributes, “A strong work ethic, a willingness to take on challenging assignments, resourcefulness and knowing where to go ask questions and get answers.”

About Johns Manville

Johns Manville, a Berkshire Hathaway company (NYSE: BRK.A, BRK.B), is a leading manufacturer and marketer of premium-quality building and specialty products. In business since 1858, the company celebrates its 150th year in business in 2008. The Denver-based company has annual sales in excess of $2 billion and holds leadership positions in all of the key markets that it serves. Johns Manville employs approximately 7,800 people and operates 41 manufacturing facilities in North America, Europe and China.

Contact:
Johns Manville Robin Wiesner, 303 978 3404 Robin.Wiesner@jm.com