Supplier News Breaks
Newell Rubbermaid CFO to resign
August 14th, 2014
ATLANTA – Doug Martin, executive vice president and chief financial officer of Newell Rubbermaid Inc., is leaving the company to take the same post at Spectrum Brands Holdings.
Newell Rubbermaid said Thursday that Martin has resigned from the company effective Aug. 31.
Executive search firm Spencer Stuart has been retained by Newell Rubbermaid to help find a new CFO. The consumer products maker said that it has named John Stipancich, executive vice president, general counsel, corporate secretary and EMEA leader, to serve as interim CFO during the search.
"On behalf of the Board of Directors and the entire company, I want to thank Doug for his invaluable contributions and leadership over 27 years of service with Newell Rubbermaid," stated Michael Polk, president and chief executive officer. "During the last two years as chief financial officer, Doug has been instrumental in driving the growth game plan into action. I know Doug and his family are excited by returning home to their extended family in the Midwest, and I wish him continued success in his future endeavors.
"Doug leaves us with an experienced financial team that will ensure a seamless transition while we search for a successor," Polk added. "John Stipancich has agreed to broaden his role and serve as interim CFO during the leadership transition period."
Newell Rubbermaid's roster of brands includes Sharpie, Paper Mate, Irwin, Lenox, Parker, Waterman, Rubbermaid, Rubbermaid Commercial Products, Levolor, Calphalon, Goody, Graco, Aprica and Dymo.
Martin is slated to start at Middleton, Wis.-based Spectrum Brands on Sept. 1. He will replace Tony Genito, who announced plans in April to leave the company by the end of 2014.
Spectrum Brands is a leading supplier of consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small household appliances, specialty pet supplies, lawn and garden and home pest control products, and personal insect and animal repellents. Its brands include Rayovac, Varta, Kwikset, Weiser, Baldwin, National Hardware, Pfister, Remington, George Foreman, Black & Decker, Toastmaster, Farberware, Tetra, Marineland, Nature's Miracle, Dingo, 8-in-1, FURminator, Littermaid, Spectracide, Cutter, Repel, Hot Shot, Black Flag and Liquid Fence.
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