Newell Rubbermaid reorganization
Newell Rubbermaid said that its 3Q sales dipped slightly to $1.54 billion, but net income improved to $108.3 million, compared to a loss of $177.6 million last year.
The company also announced a new organization model and major changes to its leadership team.
“We have made excellent progress over the last year delivering results while also driving change,” said Michael Polk, Newell Rubbermaid’s president and chief executive officer. “Our market shares are increasing in most categories around the world and our margins are improving.”
The company announced plans to eliminate two operating groups (Consumer and Professional) and shrink its global business units (GBUs) from nine GBUs to six business segments.
These six segments are:
- Tools: Irwin and Lenox tools and Dymo industrial
- Commercial Products: Rubbermaid Commercial Products and Rubbermaid Healthcare
- Writing: Sharpie, Paper Mate, Expo, Prismacolor, Parker and Waterman
- Baby & Parenting: Graco, Aprica and Teutonia
- Home Solutions: Rubbermaid, Calphalon, Levolor, Kirsch and Goody
- Specialty: Bulldog, Ashland, Shur-Line, Dym office, Endicia and Mimio
As part of the reorganization, Mark Tarchetti, the former head of Global Corporate Strategy at Unilever, will join the company in January as Chief Development Officer and lead the new Development Organization.
William A. Burke III, currently Group President, Newell Professional, has been appointed Chief Operating Officer and will lead the new Delivery Organization.
Joe Cavaliere will join the company as Global Chief Customer Officer, reporting to Burke.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
