- After almost seven years on the job
- Laud, praise and thanks for Wyatt
- Pat Hallinan taking over
(management-change.com) — Deerfield, Illinois, January 31, 2017 — Lee Wyatt, finance chief of Fortune Brands, leaves. His departure is made public at an early stage. As announced by Fortune Brands Home & Security, Inc. in a news release and in a regulatory filing published on Tuesday, January 31, 2017, Lee Wyatt, chief financial officer, leaves the home and security products company after almost seven years on the job, effective December 31, 2017.
Wyatt’s duties are taken over by Pat Hallinan, currently senior vice president of finance at Fortune Brands Home & Security, Inc.
“Strong processes and leadership in place”
The management change is explained as follows. Fortune Brands said: “Over the last five and a half years Fortune Brands has established a strong company-wide finance team, and developed strong management procedures. With strong processes and leadership in place, chief financial officer Lee Wyatt has elected to retire at the end of 2017 when he turns 65.”
Fortune Brands said: “On January 26, 2017, Mr. E. Lee Wyatt, Jr. notified the Company of his intention to retire by the end of 2017.”
Precise information about the future plans of Wyatt was not immediately available.
Share price rise since October 2011
The change follows a rise in the share price of Fortune Brands Home & Security, Inc. since October 2011.
Chaired by David Thomas
Fortune Brands Home & Security, Inc. is chaired by David Thomas.
Thomas serves as the Non-executive Chairman of the Board.
CEO: Chris Klein
Chris Klein has served as CEO of Fortune Brands Home & Security since January 2010. He led the Company through its spin-off from Fortune Brands, Inc. (the former parent company) to become an independently traded company in October 2011.
On the job as CFO since 2011
Wyatt, Jr., has been the Chief Financial Officer and Senior Vice President of Fortune Brands Home & Security, Inc. since June 2011.
He joined the Company in June 2011 and used his experience to help prepare the business for its spin-off from Fortune Brands, Inc.
During his time as CFO, Wyatt has helped build sound financial policies and procedures, and has put in place a strong capital structure.
Wyatt helped create a compelling investor message to communicate the Company’s growth potential to the investor community.
Prior to joining the Company, Wyatt served as chief financial officer of Hanesbrands.
Before that, he held the positions of vice president of Sara Lee and chief financial officer of Sara Lee Branded Apparel.
He has also served as executive vice president, chief financial officer and treasurer of Sonic Automotive, Inc., and vice president of administration and chief financial officer of Sealy Corporation.
Wyatt graduated from Southern Illinois University in Carbondale with a BS in accounting.
He has an MBA from Washington University in St. Louis.
Read the full story in the management-change.com report 06.2017 ($).