Newell Brands Inc (NYSE: NWL) is continuing upward in the amrket today after announcing the appointment of Christopher H. Peterson as the Executive Vice President and Chief Financial Officer of the company. The news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The appointment;
- what we’re seeing from the stock as a result; and
- what we’ll be watching for with regard to NWL ahead.
NWL Appoints Chris H. Peterson As EVP And CFO
As mentioned above, Newell Brands is having a great day in the market today after the company announced that it has appointed Christopher “Chris” H. Peterson as the EVP and CFO of the company. In the release, the company said that the move strengthens the company’s leadership team as part of its Accelerated Transformation Plan. The appointment of Peterson becomes effective on December 3, 2018. Once effective, Peterson will report to the company’s President and CEO, Michael Polk.
Chris Peterson is no stranger to leadership. He brings 25 years of experience to NWL. In these years, he has held senior leadership roles at Procter & Gamble, Ralph Lauren and Revlon. He comes with an extensive background in financial planning and operations, management and strategy and deep knowledge of the consumer goods industry.
At NWL, Mr. Peterson will be responsible for all aspects of Finance and Information Technology functions. This includes business planning & analysis, operating division finance, accounting, SEC reporting, internal audit, tax, treasury, cyber security, information management and global business services.
In a statement, Michael Polk, CEO at NWL, had the following to offer:
I am very pleased to have Chris Peterson join Newell Brands and my leadership team as Chief Financial Officer. His extensive experience in financial operations and as a public company CFO, coupled with his background in large-scale transformations, will strengthen our team as we drive Newell Brands’ Accelerated Transformation Plan to completion… I’d like to welcome Chris to Newell and look forward to partnering with him and the broader leadership team to build a simpler, faster, and stronger Newell Brands that creates significant value for shareholders.
The above statement was followed up by Chris Peterson. Here’s what he had to say:
I am very excited to join Newell Brands and am energized by the opportunity to partner with Mike and the leadership team in building a world class finance and IT capability at Newell, while strengthening the operational and financial performance of the company.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Newell Brands, the news proved to be exciting. Mr. Peterson brings quite a bit of value to the company. So, it’s not surprising that we’re seeing gains today. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (1:23), NWL is trading at $23.70 per share after a gain of $1.97 per share or 9.04% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on NWL. In particular, we’re interested in following the moves made by Mr. Peterson as he takes his place as a member of the senior executive team at the company. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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