ATLANTA—Mark Ketchum, president and chief executive officer, will retire from Newell Rubbermaid later this year. To ensure a smooth transition to new leadership, Ketchum will remain on the board of directors through spring of 2012.
An executive recruiting firm has been retained to conduct an outside search for Ketchum’s replacement as well as help with the assessment of internal candidates.
“I am extremely proud of what we have accomplished over the past five years at Newell Rubbermaid,” Ketchum said. “I love this company and the people I work with, making my decision to retire extremely difficult, but consistent with the commitments I made to my family when I joined the company.”
Ketchum joined the company as a director in 2005 and became president and chief executive officer later that year. “As the result of a lot of hard work and effort by everyone in the organization, our portfolio, our gross margin structure and our business model has been significantly transformed,” Ketchum said. “We managed through the most difficult economic times in decades, and have emerged a leaner, stronger organization focused on the key elements which will drive our continuing improvement.”