Tony Genito, Chief Financial Officer of Spectrum Brands, Plans Departure
from the Company at Calendar Year-End 2014
MIDDLETON, Wis. -- April 30, 2014
Spectrum Brands Holdings, Inc. (NYSE: SPB) announced today that Tony Genito,
Executive Vice President and Chief Financial Officer, plans to leave the
Company at the end of calendar 2014 to return with his family to the
The Company has an active succession plan, including commencement of a search
for Mr. Genito’s replacement that will consider both internal and external
candidates. Mr. Genito, 57, will remain in his role with Spectrum Brands until
the end of 2014 to ensure a smooth and orderly transition to his successor.
Mr. Genito, who has served as Chief Financial Officer since March 2007, said,
“I committed four years ago to come to Wisconsin to help lead this Company
into a new era of growth and expansion, strengthen our balance sheet, and
significantly grow our adjusted EBITDA and free cash flow. It has truly been
an exciting, rewarding and unforgettable experience.
“Given how well our Company has been performing since then, the bright outlook
it continues to enjoy, and the deep and experienced leadership team we have in
place,” Mr. Genito said, “I truly believe I have accomplished my work and the
time is now right for my family and me to return to the Southeast to carry out
our personal and professional plans.”
“Tony’s innumerable contributions as CFO for more than seven years are
significant, valuable and lasting,” said Dave Lumley, President and Chief
Executive Officer of Spectrum Brands. “We are grateful Tony has committed to
remain through the end of the calendar year so the transition is seamless.”
“Tony has been much more than the CFO of Spectrum Brands – he has been a true
partner to me and the entire management team,” said David Maura, Chairman of
Spectrum Brands. “I look forward to continuing to work with Tony, to find his
suitable replacement and to a continued relationship with him as he relocates
back to the South and pursues new opportunities. Tony leaves the Company
stronger than it has ever been. As I like to say, Spectrum Brands’ best days
are still ahead of us.”
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 2000 Index, is a global and
diversified consumer products company and a leading supplier of consumer
batteries, residential locksets, residential builders’ hardware, faucets,
shaving and grooming products, personal care products, small household
appliances, specialty pet supplies, lawn and garden and home pest control
products, and personal insect and animal repellents. Helping to meet the needs
of consumers worldwide, our Company offers a broad portfolio of
market-leading, well-known and widely trusted brands including Rayovac®,
Varta®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister®, Remington®,
George Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®,
Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®,
Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag® and Liquid Fence®.
Spectrum Brands' products are sold by the world's top 25 retailers and are
available in more than one million stores in approximately 140 countries.
Spectrum Brands Holdings generated net sales of approximately $4.1 billion in
fiscal 2013. For more information, visit www.spectrumbrands.com.
Spectrum Brands Holdings, Inc.
Dave Prichard, 608.278.6141
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