Spectrum Brands Holdings, Inc. (NYSE: SPB), a global consumer products
company offering an expanding portfolio of leading brands providing
superior value to consumers and customers every day, announced today
that Phil Szuba, 47, has been appointed Senior Vice President & General
Manager and will lead its Hardware & Home Improvement (HHI) division.
Mr. Szuba will succeed Gregory J. Gluchowski, who has announced his
resignation from the Company, effective September 4, to accept a senior
leadership position with another company.
A 24-year industry veteran, Mr. Szuba joined HHI in May 2008 as Vice
President, Engineering and was promoted Senior Vice President, Global
Technology and Operations in January 2014. Prior to joining HHI, he
served as Director and General Manager of Avdel North America for Avdel
Fastening Systems, a unit of Acument Global Technologies.
“Phil has demonstrated outstanding operating and technical leadership
during his seven years with HHI, and he will play a key role in
expanding and streamlining HHI’s global manufacturing and supply chain
footprint, accelerating the division’s robust new product development
program and driving organic growth,” said Andreas Rouvé, Chief Executive
Officer of Spectrum Brands Holdings. “His deep engineering background
and experience is especially important given the increasingly more
complex technology and manufacturing advances in the global hardware
industry.”
“We thank Greg for his leadership during HHI’s integration into Spectrum
Brands. Phil is the ideal executive to lead HHI to its next level,” said
David Maura, Chairman of the Board of Spectrum Brands Holdings. “His
appointment underscores the deep bench strength and talent pool within
HHI and carries out our executive succession planning program. We are
excited to have Phil at the helm.”
Mr. Szuba earned a Bachelor of Science degree and Master’s degree in
mechanical engineering and a Ph.D. in systems engineering from Oakland
University. He holds 12 U.S. and numerous foreign patents and is a
registered professional engineer.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 2000 Index, is a
global and diversified consumer products company and a leading supplier
of consumer batteries, residential locksets, residential builders’
hardware, plumbing, shaving and grooming products, personal care
products, small household appliances, specialty pet supplies, lawn and
garden and home pest control products, personal insect repellents, and
auto care products. Helping to meet the needs of consumers worldwide,
our Company offers a broad portfolio of market-leading, well-known and
widely trusted brands including 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®, Liquid Fence®, Armor All®, STP® and A/C PRO®.
Spectrum Brands' products are sold by the world's top 25 retailers and
are available in more than one million stores in approximately 160
countries. Based in Middleton, Wisconsin, Spectrum Brands Holdings
generated net sales of approximately $4.43 billion in fiscal 2014. For
more information, visit www.spectrumbrands.com.
Forward-Looking Statements
Certain matters discussed in this news release and other oral and
written statements by representatives of the Company regarding matters
such as expected sales, adjusted EBITDA, debt reduction and leverage,
and other measures of financial performance, may be forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. We have tried, whenever possible, to identify these
statements by using words like “future,” “anticipate”, “intend,” “plan,”
“estimate,” “believe,” “expect,” “project,” “forecast,” “could,”
“would,” “should,” “will,” “may,” and similar expressions of future
intent or the negative of such terms. These statements are subject to a
number of risks and uncertainties that could cause results to differ
materially from those anticipated as of the date of this release. Actual
results may differ materially as a result of (1) Spectrum Brands
Holdings’ ability to manage and otherwise comply with its covenants with
respect to its significant outstanding indebtedness, (2) our ability to
integrate and realize synergies from our recent acquisitions and any
possible future acquisitions, (3) risks related to changes and
developments in external competitive market factors, such as
introduction of new product features or technological developments,
development of new competitors or competitive brands or competitive
promotional activity or spending, (4) changes in consumer demand for the
various types of products Spectrum Brands Holdings offers, (5)
unfavorable developments in the global credit markets, (6) the impact of
overall economic conditions on consumer spending, (7) fluctuations in
commodities prices, the costs or availability of raw materials or terms
and conditions available from suppliers, (8) changes in the general
economic conditions in countries and regions where Spectrum Brands
Holdings does business, such as stock market prices, interest rates,
currency exchange rates, inflation and consumer spending, (9) Spectrum
Brands Holdings’ ability to successfully implement manufacturing,
distribution and other cost efficiencies and to continue to benefit from
its cost-cutting initiatives, (10) Spectrum Brands Holdings’ ability to
identify, develop and retain key employees, (11) unfavorable weather
conditions and various other risks and uncertainties, including those
discussed herein and those set forth in the securities filings of each
of Spectrum Brands Holdings, Inc. and Spectrum Brands, Inc., including
each of their most recently filed Annual Reports on Form 10-K or
Quarterly Reports on Form 10-Q.
Spectrum Brands Holdings also cautions the reader that its estimates
of trends, market share, retail consumption of its products and reasons
for changes in such consumption are based solely on limited data
available to Spectrum Brands Holdings and management’s reasonable
assumptions about market conditions, and consequently may be inaccurate,
or may not reflect significant segments of the retail market. Spectrum
Brands Holdings also cautions the reader that undue reliance should not
be placed on any forward-looking statements, which speak only as of the
date of this release. Spectrum Brands Holdings undertakes no duty or
responsibility to update any of these forward-looking statements to
reflect events or circumstances after the date of this report or to
reflect actual outcomes.
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