But it also reported company morale has been bad after Abrams fired sales executives and antagonized retailers by trying to "strong-arm them into exclusive distribution deals."
Even so, it's extremely unusual for Buffett to drop his usual "hands-off" policy and fire the CEO of a subsidiary.
Dow Jones' Market Talk quotes Buffett watcher Jeff Matthews as saying: "It is completely out of character for him to replace managers on the basis of strategy and ideas about distribution channels. It must have been something else seriously going wrong at the business."
Keep up with Warren Buffett on CNBC.com and follow alexcrippen on Twitter .
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