International Dairy Queen Inc., the Edina
-based frozen-treat restaurant chain owned by Warren Buffett, said today that the company's chief executive, Chuck Mooty, will step aside effective July 1.
His successor as president and CEO will be John Gainor, 51, who has been Dairy Queen's chief supply chain officer since joining the company in 2003.
Mooty, 47, will remain chairman until the end of the year. He has led Dairy Queen since 2001 and has been with the company for 21 years.
Dairy Queen has been owned since 1998 by Berkshire Hathaway Inc., the investment company owned by Buffett. Berkshire doesn't break out Dairy Queen's numbers, but the chain has been investing heavily in new store concepts (notably "Grill & Chill" stores), advertising and international expansion.