Newell Brands today announced the appointment of Chris Peterson, currently President, to serve as President and Chief Executive Officer, effective upon the conclusion of the company’s 2023 Annual Meeting of Stockholders on May 16^th, 2023. The Board will also nominate Mr. Peterson for election to the Board of Directors at the company’s 2023 Annual Meeting. Ravi Saligram will retire as Chief Executive Officer and as a member of the Board of Directors, effective May 16^th, 2023.

"Following a robust, deliberate and thoughtful succession planning process, we are pleased to announce Chris Peterson as Newell Brands’ next CEO," said Patrick Campbell, Chairman of the Board. "Chris is a proven leader, who has played an integral role in Newell’s turnaround over the past four years, by strengthening Newell’s financial performance, building operational excellence and a culture of productivity, reducing complexity and transforming the company’s supply chain capabilities. Chris has an impressive track record of success, and the Board is confident he is the ideal person to effectively lead the company through its next chapter."

"On behalf of the Board, we thank Ravi Saligram for his leadership and recognize the meaningful impact he has had on the organization during his tenure; the company is much stronger as a result of his leadership," Patrick Campbell continued. "Among Ravi’s numerous achievements, he has created a One Newell culture, led the company’s turnaround with a people first mindset amidst the challenges of the pandemic, assembled a terrific leadership team; implemented a new innovation operating model; significantly strengthened customer partnerships and dramatically improved engagement scores. We are grateful for Ravi’s dedication and significant contributions to Newell Brands and wish him well in his retirement."

"It has been a distinct honor leading Newell Brands over the last several years and I am inspired by our talented employees who are passionate, resilient and courageous," said Ravi Saligram. "I am very proud of our strong, world class executive leadership team who have made significant progress in strengthening the company by reducing complexity, laying the foundation to rejuvenate our key brands while launching innovations that capitalized on pandemic trends, building eCommerce as a competitive advantage and galvanizing our employees to be a force for good. I am confident that they are committed to making Project Phoenix and our new Segment based operating model a major success." Saligram continued, "I want to congratulate Chris Peterson on his well-deserved elevation to the new CEO of Newell. He has been a true partner to me in the turnaround and I believe he is the right person with the right skill set and right temperament to take Newell to the next level. Despite the macro headwinds the company faces, I am optimistic about the future of Newell Brands and feel our best days are ahead."