Newell Brands Announces Board Refreshment

Newell Brands (NASDAQ: NWL) today announced changes to its Board of Directors as part of the Board’s continued commitment to refreshment.

James “Jim” Keane, retired President & Chief Executive Officer, Steelcase Inc., has been elected to the company’s Board of Directors, effective February 15, 2024. Mr. Keane is the second new director to join Newell’s Board this year. As previously disclosed in December 2023, Anthony “Tony” Terry was elected to the Board of Directors, effective January 1, 2024.

In addition, the company announced that Robert Steele, Courtney Mather and Jay Johnson have informed the Board of their preference not to seek re-election to the company’s Board of Directors at its 2024 Annual Meeting of Stockholders in order to focus on other commitments. Accordingly, when their current terms end at the 2024 Annual Meeting of Stockholders, the size of the company’s Board will decrease from eleven members to eight.

The Board of Directors has designated independent director Bridget Ryan Berman as the next Chair of the Board, effective May 8, 2024, and Ms. Ryan Berman will succeed Mr. Steele in this capacity. Ms. Ryan Berman has served on Newell Brands’ Board since April 2018 and has been the Chair of the Nominating/Governance Committee since March 2022. She is a seasoned brand and e-commerce executive with over 35 years of experience in retail. As a senior level executive she has helped oversee the strategies and operations of some of the leading brands in the world, having served as Chief Executive Officer of Victoria’s Secret Direct, LLC, Chief Executive Officer of the Giorgio Armani Corporation (a U.S. subsidiary of Giorgio Armani S.P.S.), Vice President and Chief Operating Officer of Retail Stores for Apple Computer, Inc. and in a variety of positions of increasing responsibility over a 14-year period at Polo Ralph Lauren Corporation, including Group President, Global Retail.

"I have enjoyed my tenure on Newell Brands’ Board over the past six years and am pleased with the successful CEO transition in 2023. I am confident that Bridget will be an excellent Chair and remain supportive of the highly capable management team and the new strategy they have been implementing,” said Mr. Steele.

“I am honored to have been elected as Board Chair of Newell Brands and to work alongside my fellow directors and the management team in continuing to drive the company’s turnaround,” said Ms. Ryan Berman.

Ms. Ryan Berman continued, “Jim is another terrific addition to our Board, and I am confident he will play an integral role in driving value for our stakeholders, leveraging the breadth and depth of his extensive strategic and operational experience. We are very pleased to welcome Jim and Tony to the Newell Brands Board. On behalf of the entire Board and management team, I would also like to extend our gratitude to Rob, Courtney and Jay for their meaningful contributions to the Board through the years and wish them continued success.”