One of billionaire Warren Buffett’s top executives was canned after he painted the town red on a Bermuda getaway with other senior employees.Buffett’s Berkshire Hathaway has since named Bob Merritt chief executive officer of its Benjamin Moore paint unit, replacing Denis Abrams.According to a NY Post exclusive, Abrams was ousted as CEO after word spread that he held a lavish party aboard a yacht in Bermuda — one supposedly owned by music star Jimmy Buffett — all on the company’s dime.The two Buffetts, of course, are not related.Sources of the NY Post said that Mr Abrams had arranged the trip to the Island to celebrate the paint company achieving its first quarterly sales increase since 2007.During the trip the group attended a dinner party on a yacht and photos of the boat were posted to the internet, where the company’s uninvited staff found out and felt slighted.“One of the wives (on the cruise) posted pictures on Facebook, and she said it was Jimmy Buffett’s boat,” a source said.“People were like, ‘Why didn’t I get invited on this cruise?’”According to NY Post, last week Berkshire officials arrived at Benjamin Moore’s headquarters to fire Mr Abrams and escort him from the building.A company spokeswoman confirmed he has been replaced by Bob Merritt.While the rumour was that the dinner took place aboard Jimmy Buffett’s boat, the Manhattan-based tabloid learned that singer’s boats are not available for public charter, including the 124-foot luxury liner Continental Drifter III.According to Mark Soares of Bermuda Yacht Services, which sees mega yachts in an out of Bermuda, Jimmy Buffett’s boat was not docked in our ports this year, however, several other boats owned by the ultra rich were, including the luxury 177-foot sailing yacht Parisfal III owned by Danish coffee machine millionaire Kim Vibe-Petersen.The 175-foot Kisses was also in town, reportedly owned by billionaire car dealer Norman Braman as was the super yacht Martha Ann, which is said to be owned by US real estate developer Warren E Halle.Netscape founder Jim Clark’s $100 million super yacht was in St George’s over the Easter holiday and could be chartered for $300,000 per week.Founded in 1883, Benjamin Moore is based in Montvale, New Jersey. Berkshire bought Benjamin Moore in 2000.Berkshire’s housing-related businesses including carpet- maker Shaw and Acme Brick have suffered amid the worst residential real-estate slump in seven decades.Benjamin Moore sells its more than 3,300 paint colors through a network of independent retailers. The company employed nearly 2,300 people as of December 31.