- Nicholas Fink promoted to newly-created role of president and chief
operating officer, Fortune Brands, to drive operational and strategic
initiatives across the three operating divisions and capture even more
growth opportunities within and across the businesses.
- Cheri Phyfer promoted to president, Global Plumbing Group, with
increased focus on driving above-market growth and continued strategic
brand leadership.
DEERFIELD, Ill.--(BUSINESS WIRE)--Mar. 5, 2019--
Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading
home and security products company, announced today it has named
Nicholas Fink as president and chief operating officer (COO), Fortune
Brands, reporting to Christopher Klein, chief executive officer (CEO),
Fortune Brands. Cheri Phyfer has been named president, Fortune Brands
Global Plumbing Group (GPG).
“As part of our continued strategy to strengthen and position the
business for the next phase of growth, we are evolving our leadership
team with a new yet traditional leadership role to better address the
ever-changing markets and capture more growth opportunities,” said
Christopher Klein, CEO, Fortune Brands. “With the recent establishment
of our three growth platforms, we will benefit from having stronger
strategic alignment across the businesses. As president and COO, Nick
will focus on driving the businesses and identifying opportunities to
maximize our growth potential even in a backdrop of a more moderate home
products market. His added leadership expands our resources and will
allow me to devote more time to the company’s overall strategic
direction and opportunities for incremental shareholder value creation.”
Klein will continue to actively lead the overall Company and core
portfolio strategy to ensure the Company is focused on delivering
against its plans. He will also continue to focus on broader
opportunities to create incremental shareholder value, including
deploying capital and developing high-performance leadership across
Fortune Brands.
The three presidents of the Plumbing, Cabinets, and Doors & Security
divisions will report to Fink. In this new role, he will ensure even
more focus on understanding rapid market changes and quickly applying
incremental resources and best thinking to capture the opportunities
ahead. He will focus on how changes in the Company’s markets, trade,
labor and competitive dynamics impact the businesses and take advantage
of opportunities to deploy resources to achieve maximum impact. He will
also drive the strategic planning process with division presidents to
create value across the businesses and partner with supply chain and
operations leadership to explore the continued evolution of supply
chains in a dynamic environment.
In her role as president, GPG, Phyfer will succeed Fink, and be
responsible for driving above-market growth across the platform at
already high margins. She will continue building strong, iconic brands
while bringing innovation into the market through acquisitions and
strategic partnerships that drive continued market outperformance. Her
brand leadership will include the continued rejuvenation of the Moen
brand, which has distinguished its category leadership with the “Who
Designs for Water?” campaign; and further establish the House of Rohl
platform, which has solidified its luxury category leadership with “The
Story Craft Tells” positioning.
Fink joined Fortune Brands in 2015 to lead the Global Growth &
Development team until August 2016 when he became the president of the
newly-formed GPG. Since its inception and under Fink’s leadership, the
GPG has grown into a multi-brand, geography and channel business that
acquired five brands, established several key strategic partnerships,
accelerated new product development and re-launched the core Moen brand.
In 2018, the GPG posted sales of nearly $1.9 billion, growing 9 percent
year-over-year, with industry-leading operating margins. It is Fortune
Brands’ largest segment by profit and its highest-margin business. Fink
came from Beam Suntory where he was the president of Asia Pacific and
South America. He brings an established track-record as a
results-oriented leader with strengths in growing businesses,
international markets, industry-leading consumer brands and successful
M&A transactions.
Phyfer joined the GPG in 2018 as president, U.S. Businesses, and was
most recently president, GPG Americas. She came to the GPG from The
Sherwin-Williams Company. During her impressive 20-year career there,
she ran two of the company’s largest store divisions prior to serving as
president, Consumer Brands Group. In this role, she led a $2+ billion
global group consisting of 60 marquee and private-label brands sold to
more than 5,000 customers in North America, Europe, China, Australia and
New Zealand through more than 50,000 outlets. She distinguished herself
as a strategic business unit leader with a proven ability to grow market
share across an extensive portfolio of brands.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in
Deerfield, Ill., creates products and services that fulfill the dreams
of homeowners and help people feel more secure. The Company's operating
segments are Plumbing, Cabinets, and Doors & Security. Its trusted
brands include Moen, Perrin & Rowe, Riobel, Rohl, Shaws and Victoria +
Albert under the Global Plumbing Group (GPG); more than a dozen core
brands under MasterBrand Cabinets; Therma-Tru entry door systems,
Fiberon outdoor performance materials, and Master Lock and SentrySafe
security products in the Doors & Security segment. Fortune Brands holds
market leadership positions in all of its segments. Fortune Brands is
part of the S&P 500 Index. For more information, please visit www.FBHS.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190305005457/en/
Source: Fortune Brands Home & Security, Inc.
MEDIA CONTACT:
Kaveh Bakhtiari
847-484-4573
Kaveh.Bakhtiari@fbhs.com
