The board of directors plays a crucial role in the success of any company, including Newell Brands. In this article, we'll take a deep dive into the individuals who make up the Newell Brands board of directors, their responsibilities, their decision-making process, and how recent changes to the board will affect the future of Newell Brands.
The Newell Brands board of directors is made up of 12 members, all of whom bring a unique set of skills and experiences to the table. The current board is diverse in terms of gender, ethnicity, and professional backgrounds, which is reflective of Newell Brands' commitment to inclusivity.
In addition to the board of directors, Newell Brands has a team of over 30,000 employees worldwide. These employees work in various departments, including marketing, research and development, manufacturing, and sales. The company values its employees and provides them with opportunities for growth and development.
Newell Brands is also committed to sustainability and social responsibility. The company has implemented various initiatives to reduce its environmental impact, such as using recycled materials in its products and reducing waste in its manufacturing processes. Additionally, Newell Brands supports various charitable organizations and community initiatives, such as providing disaster relief and supporting education programs.
Founded in 1903, Newell Brands has a rich history, and its board of directors has played an integral role in shaping the company's direction. The board has undergone several changes over the years, including the addition of new members and changes to its structure, to adapt to the changing needs of the company.
One of the most significant changes to the board of directors occurred in 2018, when activist investor Carl Icahn acquired a significant stake in the company and pushed for changes to the board. As a result, Newell Brands added four new directors to its board, including Icahn's appointees. This move was seen as a way to address concerns about the company's performance and to improve shareholder value.
The board of directors is responsible for overseeing the management of the company and ensuring that it is in the best interests of its shareholders. This includes setting the company's strategic direction, overseeing risk management, and ensuring that effective governance practices are in place.
Another important role of the board of directors is to hire and evaluate the performance of the CEO and other top executives. They also approve major decisions such as mergers and acquisitions, major investments, and changes to the company's capital structure.
The board of directors also plays a crucial role in ensuring that the company operates in an ethical and socially responsible manner. They are responsible for establishing and enforcing policies related to corporate social responsibility, sustainability, and ethical behavior. This includes ensuring that the company complies with all relevant laws and regulations, as well as addressing any ethical concerns that may arise.
The Newell Brands board of directors is made up of 12 members, including the Chairman and CEO, and several independent directors. The board is divided into several committees, including the Audit Committee, the Compensation Committee, and the Nominating and Corporate Governance Committee, to ensure that there is effective oversight in various areas of the company.
The Chairman and CEO of Newell Brands, Michael Polk, is responsible for leading the board of directors and overseeing the company's overall strategy and performance. The independent directors on the board bring a diverse range of expertise and experience to the table, including in areas such as finance, marketing, and operations.
In addition to the committees mentioned earlier, the Newell Brands board also has a Sustainability and Corporate Responsibility Committee, which focuses on the company's environmental and social impact. This committee is responsible for setting goals and strategies related to sustainability, as well as monitoring and reporting on the company's progress in these areas.
The Newell Brands board of directors follows a rigorous decision-making process that involves evaluating various options, considering the company's strategic priorities, and ensuring that all decisions are in the best interests of shareholders.
One key aspect of the board's decision-making process is the involvement of independent directors. These directors are not affiliated with the company and bring an objective perspective to the decision-making process. They are also responsible for overseeing the actions of management and ensuring that the company is being run in a responsible and ethical manner.
Another important factor in the board's decision-making process is the consideration of input from stakeholders. This includes not only shareholders, but also employees, customers, and the communities in which the company operates. By taking into account the perspectives of all stakeholders, the board is able to make more informed decisions that are in the best interests of the company as a whole.
Individual members of the board have specific responsibilities, including attending meetings, providing insights and expertise, and serving on various committees. They are also responsible for ensuring that they are acting in the best interests of shareholders and maintaining the highest ethical standards.
In addition to their core responsibilities, individual board members also play a crucial role in setting the strategic direction of the company. They are expected to provide guidance and input on key decisions, such as mergers and acquisitions, major investments, and changes in leadership.
Furthermore, board members are responsible for overseeing the performance of the company's management team. This includes monitoring financial performance, assessing risks, and ensuring that the company is complying with all relevant laws and regulations.
Individuals who are interested in joining the Newell Brands board of directors must have relevant experience in their professional field, a strong track record of accomplishments, and be committed to the company's values and mission. The Nominating and Corporate Governance Committee is responsible for identifying and nominating suitable candidates for the board.
In addition to the qualifications mentioned above, Newell Brands also seeks diversity in its board of directors. The company values diversity in terms of gender, ethnicity, age, and professional background. This ensures that the board is able to bring a wide range of perspectives and experiences to the table.
Once a candidate is nominated, they go through a rigorous selection process that includes interviews with the Nominating and Corporate Governance Committee, as well as other members of the board. The final decision is made by the full board of directors, who carefully consider the candidate's qualifications, experience, and fit with the company's culture and values.
The Newell Brands board of directors faces several challenges, including managing risk, responding to changes in the market, and ensuring effective governance practices. The board has addressed these challenges by implementing robust risk management strategies, staying abreast of market developments, and constantly evaluating its governance practices.
One of the major challenges faced by the Newell Brands board is the increasing competition in the market. To address this challenge, the board has focused on innovation and product development, investing in research and development to create new and improved products that meet the changing needs of consumers.
Another challenge faced by the board is the need to maintain a diverse and inclusive workforce. The board has taken steps to ensure that the company's hiring and promotion practices are fair and equitable, and that all employees have access to training and development opportunities to help them advance in their careers.
Each member of the Newell Brands board of directors brings valuable skills and experiences to the table. Some of the key members on the board include Chairman and CEO Ravi Saligram, who brings more than 35 years of experience in consumer products companies, and Independent Director Lynn Crump-Caine, who has extensive experience in marketing, sales, and operations.
Another important member of the board is Independent Director John Smith, who has a background in finance and has served on the boards of several other companies. His expertise in financial management and strategic planning is a valuable asset to the Newell Brands board. Additionally, Vice Chairman and Chief Financial Officer Christopher Peterson brings over 20 years of experience in finance and accounting to the board, and has played a key role in the company's financial growth and success.
As mentioned earlier, the Newell Brands board of directors is diverse in terms of gender, ethnicity, and professional backgrounds. This diversity reflects the company's commitment to inclusivity and ensures that there is a range of perspectives and ideas represented on the board.
One way in which diversity plays a role in the composition of Newell Brands' board is through the company's focus on innovation. With a diverse group of individuals on the board, there is a greater likelihood of new and innovative ideas being brought to the table. This can lead to the development of new products and strategies that can help the company stay ahead of its competitors.
Another benefit of having a diverse board of directors is that it can help the company better understand and connect with its customers. With individuals from different backgrounds and experiences, the board is better equipped to understand the needs and preferences of a diverse customer base. This can help the company develop products and marketing strategies that are more effective and appealing to a wider range of consumers.
In 2021, Newell Brands announced several changes to its board of directors, including the appointment of three new independent directors. These changes reflect the company's commitment to ongoing renewal and ensuring that the board is well-positioned to guide the company through the future.
The new independent directors bring a wealth of experience and expertise to the board, particularly in areas such as digital transformation, sustainability, and consumer behavior. This is expected to help Newell Brands stay ahead of the curve in these critical areas and drive growth in the long term. Additionally, the changes to the board are seen as a positive step towards improving corporate governance and accountability, which could help boost investor confidence and attract new investors to the company.
Transparency and accountability are critical components of effective corporate governance. The Newell Brands board is committed to maintaining transparency and accountability by regularly communicating with shareholders, responding to feedback, and implementing best practices in governance.
Transparency and accountability not only benefit shareholders, but also contribute to the overall success of a company. By being transparent about their operations and decision-making processes, companies can build trust with their stakeholders and attract new investors. Additionally, accountability ensures that companies are held responsible for their actions and are motivated to act in the best interest of their stakeholders. At Newell Brands, we believe that transparency and accountability are essential for building a sustainable and successful business.
Newell Brands' board of directors has a robust and effective structure, which compares favorably to other companies in its industry. The company's commitment to diversity and renewal ensures that it is well-positioned to compete and succeed in a rapidly changing market.
One notable aspect of Newell Brands' board structure is its emphasis on independent directors. The majority of the board is composed of independent directors, which helps to ensure that decisions are made in the best interest of the company and its shareholders. Additionally, the board has a strong focus on sustainability and corporate responsibility, which is reflected in the company's policies and practices. Overall, Newell Brands' board structure sets a high standard for corporate governance in its industry.
The Newell Brands board of directors will continue to play a crucial role in guiding the company through a rapidly changing business environment. Investors can expect the board to prioritize strategies that enhance shareholder value, promote innovation, and ensure ongoing growth and success.
Overall, the Newell Brands board of directors is a group of talented and experienced professionals who are committed to ensuring the continued success of the company. By following best practices in corporate governance, maintaining transparency and accountability, and prioritizing shareholder value, the board is well-positioned to guide Newell Brands through a dynamic and competitive landscape.
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