Fortune Brands Names May Russell Chief Digital Officer

Rhea-AI Summary

Fortune Brands Home & Security (NYSE: FBHS) announced the appointment of May Russell as its first chief digital officer, positioned to spearhead the company's digital transformation efforts. Russell brings extensive experience from Ford Motor Company, where she oversaw significant digital initiatives. Fortune Brands aims to enhance its digital strategy to boost growth and operating efficiency. CEO Nicholas Fink emphasized the importance of digital excellence as a competitive advantage, marking a significant strategic shift for the company.

Positive

• Appointment of May Russell as chief digital officer.
• Russell's strong background in leading digital initiatives.
• Strategic focus on enhancing digital capabilities to drive growth.
• Positioning digital excellence as a competitive advantage.

Negative

• None.

New Role Established to Lead Company’s Digital Transformation

DEERFIELD, Ill.--(BUSINESS WIRE)-- Fortune Brands Home & Security, Inc. (NYSE: FBHS), an industry-leading home and security products company, today announced that May Russell has joined the Company as its first-ever chief digital officer. In this newly established role, Russell will lead the Company’s digital strategy and digital transformation as well as enterprise information technology.

“May is an extremely talented executive with experience successfully leading enterprise-wide digital initiatives, and I am so pleased to welcome her to Fortune Brands,” said Nicholas Fink, chief executive officer, Fortune Brands. “Our ability to attract an executive of her caliber speaks to the tremendous potential we have for digital transformation within our portfolio and throughout our business.”

Russell joins Fortune Brands from Ford Motor Company, where she most recently served as chief technology officer of Ford Commercial Solutions. In that role, she led an organization of over 2,000 digital professionals and had global responsibility for the award-winning Ford and Lincoln apps, the digital consumer interface for all vehicles, and the digitization of fleet management. During her almost 20-year tenure at Ford, Russell served in several other roles, including co-leading Digital and Agile transformation. Russell joined Ford after spending several years at Ernst and Young. She received her B.S. degree in Computer Science and her MBA from the University of Michigan.

The Company recently announced an initiative to build digital excellence as the next core competency within its Fortune Brands Advantage capabilities. Through this strategy, the Company expects to enhance brand and innovation, accelerate growth and improve operating efficiency by bolstering its digital footprint and positioning itself to succeed in an increasingly digital environment.

"Our world is rapidly evolving, and the digitalization of business is gathering pace,” said Fink. “As an industry leader, and as a company that disrupts and innovates, we are embracing these changes and intend to make digital excellence a true competitive advantage for Fortune Brands. May's experience and vision makes her a great fit to drive this initiative."

About Fortune Brands

Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, IL., is a Fortune 500 company, part of the S&P 500 Index and a leader in the home products industry. With trusted brands and market leadership positions in each of its three operating segments, Plumbing, Outdoors & Security, and Cabinets, Fortune Brands’ 27,500 associates work with a purpose to fulfill the dreams of home.

The Company’s growing portfolio of complementary businesses and innovative brands include Moen and the House of Rohl within the Global Plumbing Group; outdoor living and security products from Therma-Tru, LARSON, Fiberon, Master Lock and SentrySafe; and MasterBrand Cabinets’ wide-ranging offerings from Mantra, Diamond, Omega and many more. Visit www.FBHS.com to learn more about FBHS, its brands and how the Company is accelerating its environmental, social and governance (ESG) commitments.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” that are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), regarding general business strategies, market potential, anticipated future financial performance, the potential of our brands and the housing market, and other matters. Statements preceded by, followed by or that otherwise include the words “believes,” “positioned,” “expects,” “estimates,” “plans,” “look to,” “outlook,” “intend,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management. Although we believe that these statements are based on reasonable assumptions, they are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those indicated in such statements, including but not limited to general business and economic conditions; our reliance on the North American repair and remodel and new home construction activity levels; our reliance on key customers and suppliers; our ability to maintain our strong brands and to develop innovative products while maintaining our competitive positions; our ability to improve organizational productivity and global supply chain efficiency; our ability to obtain raw materials and finished goods in a timely and cost-effective manner; the impact of sustained inflation, including global commodity and energy availability and price volatility; the impact of trade-related tariffs and risks with uncertain trade environments or changes in government and industry regulatory standards; our ability to attract and retain qualified personnel and other labor constraints; the uncertainties relating to the impact of COVID-19 on the Company’s business and results; our ability to achieve the anticipated benefits of our strategic initiatives; our ability to successfully execute our acquisition strategy and integrate businesses that we have and may acquire; and the other factors discussed in our securities filings, including in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission. The forward-looking statements included in this release are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220207005762/en/

MEDIA CONTACT:

Darwin Minnis

847-484-4204

Media.Relations@FBHS.com

INVESTOR CONTACT:

Matthew Skelly

847-484-4573

Investor.Questions@FBHS.com

Source: Fortune Brands Home & Security, Inc.

FAQ

Who has been appointed as chief digital officer of FBHS?

May Russell has been appointed as the chief digital officer of Fortune Brands Home & Security (FBHS).

What is the main focus of May Russell's role at FBHS?

May Russell will lead the company's digital strategy and digital transformation initiatives.

What experience does May Russell bring to FBHS?

May Russell has extensive experience from Ford Motor Company, where she was chief technology officer and led significant digital projects.

What does Fortune Brands expect from its digital transformation strategy?

Fortune Brands aims to enhance brand innovation, accelerate growth, and improve operating efficiency through its digital transformation.

Why is digital excellence important for Fortune Brands?

Digital excellence is seen as a competitive advantage in the rapidly evolving business landscape.