Newell Rubbermaid’s EVP and CFO Doug Martin has resigned from the company effective August 31, to be EVP and CFO at Spectrum Brands, effective September 1.
Newell Rubbermaid has retained Spencer Stuart to help the company search for a new CFO. While that search is underway, John Stipancich, the company's EVP, general counsel, corporate secretary and EMEA leader, has been tapped as interim financial chief.
"On behalf of the board of directors and the entire company, I want to thank Doug for his invaluable contributions and leadership over twenty-seven years of service with Newell Rubbermaid,” Michael Polk, president and CEO, said. “During the last two years as CFO, Doug has been instrumental in driving the Growth Game Plan into action. I know Doug and his family are excited by returning home to their extended family in the Midwest and I wish him continued success in his future endeavors. Doug leaves us with an experienced financial team that will ensure a seamless transition while we search for a successor. John Stipancich has agreed to broaden his role and serve as interim CFO during the leadership transition period."
Stipancich, a 10-year veteran of Newell Rubbermaid, is a member of the company's executive leadership team. He currently has operating responsibility for the company's business operations in Europe, the Middle East and Africa, and the company's global legal functions. Prior to joining Newell Rubbermaid, he held executive positions with Evenflo Co and Borden, both former Kohlberg Kravis Roberts & Co. portfolio companies. He started his legal career as an associate with the international law firm of Squire Patton Boggs.