http://online.wsj.com/article/SB10001424127887324904004578539443761846024.html

Tracy Britt Cool, one of Warren Buffett's top proteges, is leaving Berkshire Hathaway to start a similar holding company, the Wall Street Journal reported Wednesday.

The new firm will look for value companies "too small for Berkshire," she told WSJ.

Buffett has praised Britt Cool for her consistency and dependability, once saying "anything I've assigned her she's done a first-class job on."

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Tracy Britt Cool, one of Warren Buffett's top proteges at Berkshire Hathaway, is leaving the holding company to start her own similar firm, the Wall Street Journal reported Wednesday.

After working at the legendary firm for a decade, Britt Cool is looking to create a similar holding company to cater to businesses "too small" for Buffet's empire.

"I want to build a long-term platform and a long-term vehicle to acquire and build businesses," she told the WSJ. "There are companies that I think there's a lot of value in helping them get to the next level, but they're too small for Berkshire."

Britt Cool was hired as Buffett's financial assistant in 2009 at age 25. She went on to serve as chairman of Benjamin Moore, Larson-Juhl, and Oriental Trading through her time at Berkshire.

She most recently served as CEO of Pampered Chef, assuming the role in 2014. The cookware company is part of Berkshire's famed portfolio.

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During her time at Berkshire, Britt Cool turned Buffett into a mentor, managing "problem" companies and learning from the investor's past. Buffett praised her dependability and noted that she could be "of particular value" to Berkshire's next leader.

"She was the fireman," Buffett said. "Anything I've assigned her she's done a first-class job on."

Britt Cool told the WSJ she plans to apply Berkshire-esque strategies with her new firm, but declined to comment on how she plans to fund the business or structure its staff.

Andrew Treanor, Pampered Chef's chief operating officer, will serve as its new CEO after Britt Cool leaves.

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