Newell Brands Inc. (NASDAQ: NWL) presented today at the 2023 dbAccess Global Consumer Conference in Paris. Chris Peterson, President and Chief Executive Officer, and Mark Erceg, Chief Financial Officer, provided an update on the company’s strategic priorities, capital allocation framework and Evergreen Targets.
“Our presentation highlighted a pivot in our front-end strategy and outlined the focused and deliberate choices we are making to strengthen the company’s consumer-facing capabilities while distorting investment to our most attractive value pools. We will leverage and further build upon the strengthened operational foundation we’ve established while harnessing the scale of our portfolio to drive competitive advantage,” said Chris Peterson.
“I am confident that our clear strategic choices, paired with our experienced leadership team and talented employees, will enable the company to accelerate financial performance going forward. We see significant runway for value creation by unlocking the power of our brands, scale and operational discipline to drive sales growth, margin expansion and cash flow generation as we transition to a high-performance organization,” said Peterson.
As previously communicated, over the past several months, the leadership team has undertaken a refresh of the corporate strategy, which encompassed a comprehensive assessment of where Newell Brands stands versus best-in-class competition on the key capabilities required to win in this industry, an updated and integrated set of where to play and how to win choices, an assessment of the talent and culture required to enact the strategy refresh, as well as an evaluation of the capital allocation priorities required to support the new strategy.
During today’s presentation, the company defined core capabilities that were assessed over the past several months, which informed the integrated set of where to play and how to win choices it will pursue going forward. The company also outlined the major changes the leadership team is executing, including:
- Meaningful improvement in front-end capabilities, including consumer understanding, brand management, innovation and go-to-market execution
- Resource distortion to the company’s largest value pools, including the largest and most profitable brands, fastest-growing channels and winning retailers, and top 10 countries
- Turning Newell’s scale into a competitive advantage, enabling cost savings that provide fuel for reinvestment
- Transitioning to a high-performance organization, as the company transforms its culture and moves with speed and agility to realize its full potential
An archived webcast of the presentation may be accessed by selecting Events & Presentations from the Investors tab of the Newell Brands website at www.newellbrands.com.
About Newell Brands
Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Rubbermaid, Sharpie, Graco, Coleman, Rubbermaid Commercial Products, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex and Campingaz. Newell Brands is focused on delighting consumers by lighting up everyday moments.
This press release and additional information about Newell Brands are available on the company’s website, www.newellbrands.com.
Caution Concerning Forward-Looking Statements
Some of the statements in this press release, particularly those relating to future improvement opportunities, financial performance, and value creation, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by the forward-looking statements include the factors listed from time to time in our SEC filings, including but not limited to our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and our other SEC filings. The company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments.