In 1989, Warren Buffett's Berkshire Hathaway purchased $600 million worth of Gillette convertible preferred shares. Buffett filled a vacant seat on the company's board and agreed not to sell his stake "except in a change of control or if insurance regulators force a sale of the stock in the event Gillette's financial condition falters", reducing the chances of a takeover. During late 1989 and early 1990, Gillette launched the new product Sensor with a $175 million marketing campaign in 19 countries in North America and Western Europe.