Gillette relieves chairman after poor results
New York: Legendary investor, Warren Buffett, led the directors of the board of leading shaving systems and batteries group, Gillette, to oust Mr. Michael Hawley from the post of chairman and chief executive after a disappointing 18 months at the helm.

Mr Buffett, whose Berkshire Hathaway insurance and investment group owns about 9 per cent of Gillette’s stock, is understood to have said that this change in management is in the best interests of the company’s shareholders.

Mr Hawley will temporarily be replaced by two Gillette veterans. Mr. Edward DeGraan, chief operating officer, becomes acting chief executive officer, and Mr. Richard Pivirotto, a management consultant and board member, will take over the chairmanship pending a search for a permanent replacement.
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