Fortune Brands Announces Planned Retirement of Christopher Klein From Board of Directors
“This year, the business has reacted and performed exceedingly well amidst a global health pandemic and economic uncertainty. Our strong financial results speak to the quality of our teams and strategic plans, and our operational excellence. Fortune Brands’ demonstrated ability to outperform in any environment gives me and our Board the confidence to enable me to step down as chairman of the Board in accordance with the multi-step leadership transition plan we initiated several years ago,” said Klein. “Fortune Brands remains well-positioned to leverage a strong housing industry that has only strengthened since last spring. I am immeasurably proud of our culture, our team, and our successful track record, and I am confident Fortune Brands is even better positioned to capture additional growth opportunities long into the future.”
Klein was the Company’s first chief executive officer. He joined the former parent company,
Klein took
On
“Chris was instrumental in leading the successful spin-off of Fortune Brands in 2011, after rebuilding the company as it emerged from the 2008 housing crisis. As our first CEO, he established our culture, and built out all elements of the company, both organically and through acquisitions, and has positioned the company to outperform the market and continue to create value for the long-term,” said Fink. “I feel fortunate to have worked alongside Chris for many years. His wealth of knowledge, counsel and friendship have been invaluable. I am honored to continue his tireless work of building this great company.”
About Fortune Brands
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements” regarding business strategies, market potential, future financial performance, the potential of our brands and other matters. Statements preceded by, followed by or that otherwise include the words “believes,” “positioned,” “expects,” “estimates,” “plans,” “look to,” “outlook,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements. Important factors that could affect performance and cause results to differ materially from management’s expectations, or could affect the Company’s ability to achieve its strategic goals, include the uncertainties relating to the impact of COVID-19 on the Company’s business, operations and employees and the other factors discussed in our securities filings, including in Item 1A of our Annual Report on Form 10-K for the year ended
Use of Non-GAAP Financial Information
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