Newell needs a breakup more than a CEO tombuerkle
Newell Brands said on March 14 that Chief Executive Michael Polk would retire at the end of June, saying it was the right time for a management transition now that the company’s program of asset sales was nearing completion.
Polk has been president and CEO since 2011 and led the $15 billion acquisition of rival consumer-brands conglomerate Jarden in 2016. Under pressure from activists Carl Icahn and Starboard Value, the company last year gave the investors board seats and agreed to increase its divestiture target by half.
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Newell Brands CEO Michael Polk to retire at end of second quarterPolk has served as president and CEO since 2011. He has also been a member of Newell's board since 2009.
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