The consumer products company said Thursday that Maura, 43, assumes the new role effective immediately. He has served as a Spectrum Brands director since June 2010 and as interim board chairman before becoming the full-time chairman in July 2011. Maura is an executive vice president and director at investment firm HRG Group Inc.
The move comes just months after Andreas Rouvé, who took the reins as president and chief executive officer on April 1, joined the Spectrum Brands board as a director. His predecessor, David Lumley, retired as president and CEO and stepped down from the board.
“It is an honor for me to continue to work in this leadership capacity as the executive chairman of Spectrum Brands, and especially so with our chief executive officer, Andreas Rouvé, who is off to a very strong start and with whom I have developed a close working relationship,” Maura said in a statement. “Andreas is providing outstanding leadership at Spectrum Brands, as he and our senior executive team take Spectrum Brands to the next level of growth and profitability. I am extremely optimistic with regard to the outlook for our company. As we integrate our recent acquisitions, meaningfully deleverage our balance sheet and execute our Spectrum First organic growth strategy, I can say with confidence that I believe that our company’s best days are still ahead.”
The company’s products span such categories as consumer batteries, residential locksets, residential builders’ hardware, faucets, shaving and grooming products, personal care products, small appliances, pet care, lawn and garden, home pest control, auto care and insect repellents. Its brands include Rayovac, VARTA, Kwikset, Weiser, Baldwin, National Hardware, Pfister, Remington, George Foreman, Russell Hobbs, Black + Decker, Farberware, Tetra, Marineland, Nature’s Miracle, Dingo, 8-in-1, FURminator, IAMS, Eukanuba, Digest-eeze, Healthy-Hide, Littermaid, Spectracide, Cutter, Repel, Hot Shot, Black Flag, Armor All, STP and Liquid Fence, among others.
“The board recognizes the countless and valuable contributions David Maura has made to the growth and expansion of Spectrum Brands over the past six years, particularly through his focus on strategy, capital allocation, and mergers and acquisitions,” stated Norman Matthews, chairman of the nominating and corporate governance committee. “Our expectation is that David’s ongoing contributions will continue to drive superior returns for Spectrum Brands.”