Newell Still Searching for Permanent CEO

Newell Still Searching for Permanent CEO

Newell Brands says its hopes to name a permanent CEO in the upcoming weeks as it appointed CFO Chris Peterson to the role on an interim basis.

Peterson will take over from Mike Polk who, as previously announced, is retiring at the end of this month.

Newell Chairman Patrick Campbell said that the search for a permanent CEO was “proceeding well” and that the announcement of an external hire was expected in the next few weeks. That sounds like the candidate may already have been identified, but has other commitments to honor before joining Newell.

Campbell added: “We are confident that Newell Brands is taking the right steps to execute its transformation, drive growth and increase shareholder value as a leading consumer products company.”

The company’s share price is currently trading at around the $15 mark and has slipped by almost 50% in the past year. - (OPI)