Fortune Brands Appoints Susan Saltzbart Kilsby as Non-Executive Chair of the Board

Rhea-AI Summary

Fortune Brands Home & Security (NYSE: FBHS) has appointed Susan Saltzbart Kilsby as the new non-executive chair, effective January 1, 2021. Kilsby, an independent director since 2015, previously held significant roles in investment banking and has served as chair of Shire plc. The transition follows Christopher Klein's retirement as executive chairman, part of a multi-year leadership transition plan. Kilsby’s appointment aims to enhance Board diversity and leverage her extensive market understanding, ensuring strong leadership continuity.

Positive

• Susan Kilsby's experience in investment banking and board leadership is expected to provide strategic advantages.
• The transition is designed to ensure continuity and strong leadership.

Negative

• Christopher Klein's retirement may create concerns about leadership continuity.

Fortune Brands Home & Security, Inc. (NYSE: FBHS, the “Company”, or “Fortune Brands”), an industry-leading home and security products company, today announced that the Board of Directors appointed Susan Saltzbart Kilsby as non-executive chair, effective January 1, 2021.

Ms. Kilsby, an independent director, has served on Fortune Brands’ Board since 2015, and is currently a member of the Nominating, Environmental, Social and Governance committee and the Compensation committee. Ms. Kilsby had a distinguished career in investment banking, mergers and acquisitions and international business prior to her retirement in 2014, holding a variety of senior level positions at Credit Suisse AG, including managing director and head of mergers and acquisitions for Europe, the Middle East and Africa. She also has extensive international board experience, including serving as the chair of Shire plc for five years.

“We are excited to have Ms. Kilsby transition to the role of non-executive chair. Over the last five years, she has consistently provided thoughtful and insightful direction to Fortune Brands. Her deep understanding of Fortune Brands’ markets, strategies and businesses will ensure a seamless transition in Board leadership,” said Nicholas Fink, chief executive officer, Fortune Brands. “At a time when women are underrepresented in U.S. board rooms, I am honored we have such a capable leader to be our new Board chair.”

As previously announced, Christopher Klein will be retiring as executive chairman and a member of the Board of Directors, effective at the close of business on December 31, 2020. Mr. Klein served as executive chairman during 2020 as part of the Company’s multi-year transition plan to ensure continued strong leadership and consistency in executing the Company’s business strategies and priorities following Mr. Klein’s retirement as chief executive officer.

The appointment of Ms. Kilsby as non-executive chair and the earlier 2020 Board additions of Jeffery Perry and Amit Banati further enhance the diversity, leadership capabilities and depth of experience of the Board.

About Fortune Brands

Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, IL., creates products and services that fulfill the dreams of home. The Company's operating segments are Plumbing, Cabinets and Outdoors & Security. Its trusted brands include Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert and Rohl under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, LARSON storm, screen and security doors, Fiberon composite decking and Master Lock and SentrySafe security products in the Outdoors & Security segment. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index and a Fortune 500 Company. For more information, please visit www.FBHS.com. To learn more about how Fortune Brands is embracing and accelerating its environmental, social and governance duties, please visit the Company’s ESG section and report at www.FBHS.com/global-citizenship.

Source: Fortune Brands Home & Security, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201221005059/en/

FAQ

Who is Susan Kilsby, and what is her background before joining Fortune Brands?

Susan Kilsby has a distinguished career in investment banking, previously serving as managing director at Credit Suisse AG and chair of Shire plc.

What are the implications of Susan Kilsby's appointment for Fortune Brands?

Her appointment is anticipated to enhance the Board's diversity and provide strategic insights from her extensive experience.

When will Susan Kilsby officially take on her new role at Fortune Brands?

Susan Kilsby will start her role as non-executive chair on January 1, 2021.

Why is Christopher Klein retiring from Fortune Brands?

Christopher Klein is retiring as part of a multi-year transition plan to ensure strong leadership continuity.