Fortune Brands Outlines Go-Forward Strategies for Two World-Class Publicly Traded Companies at 2022 Investor Day
Fortune Brands Home & Security, Inc. (“Fortune Brands” or the “Company”), an industry-leading home and security products company, today will host an Investor Day in advance of its planned separation into two world-class companies, which is expected to occur on December 14, 2022. Shortly after the separation of MasterBrand, Inc. (NYSE: MBC or “MasterBrand”), Fortune Brands will be changing its name to Fortune Brands Innovations, Inc., reflecting the Company’s focus on driving accelerated growth in its categories through brands and innovation.
As Fortune Brands and MasterBrand prepare to pursue independent paths, members of the senior leadership teams of both companies will present an update on each company’s strategic initiatives, growth plans and value creation drivers.
In the morning session, Fortune Brands CEO Nicholas Fink and his leadership team will explain why Fortune Brands is poised for accelerated growth and productivity, including its pursuit of exciting, supercharged categories.
“I am thrilled to introduce Fortune Brands Innovations, a brand, innovation and channel leader in the home, security and commercial building markets. With leading positions in attractive growth markets, an aligned organization underpinned by the Fortune Brands Advantage capabilities that position us to drive exceptional returns, and a talented team with a track record of through-the-cycle value creation, we are well positioned to drive supercharged growth,” said Fink. “Our focus on safety and sustainability, our ongoing digital transformation, and our disciplined approach to strategic acquisitions also set the stage for further long-term value creation. Taken together, I’m incredibly excited about the path forward for Fortune Brands Innovations.”
In the afternoon session, David Banyard, President and incoming CEO of MasterBrand, together with his leadership team, will elaborate on how MasterBrand is driving efficiency and flexibility across the enterprise, transforming it into a streamlined, tech-enabled business able to deliver for the unique needs of each customer.
Banyard stated, “I am honored to lead MasterBrand, a company grounded in 70 years of rich history, as it starts a new chapter as an independent company. Our strategic transformation has enabled us to make great progress across our product lines and operations and we see tremendous opportunities ahead. Further evolution of The MasterBrand Way is helping us align the business for growth, engage teams to foster problem solving, and use technology to improve quality and service.” He added, “With an unrivaled product offering, distribution network and operations, we are charting a course to deliver long-term sustainable growth while we strengthen our leadership position as the largest residential cabinet manufacturer in North America.”
In addition, both companies will provide an update on expectations for 2023 and outline future financial targets.
About Fortune Brands
Fortune Brands Home & Security, Inc. (NYSE: FBHS), headquartered in Deerfield, IL., is a Fortune 500 company, part of the S&P 500 Index and a leader in the home products industry. With trusted brands and market leadership positions in each of its three operating segments, Water Innovations, Outdoors & Security, and Cabinets, Fortune Brands’ 28,000 associates work with a purpose to fulfill the dreams of home. The Company’s growing portfolio of complementary businesses and innovative brands includes Moen and the House of Rohl within Water Innovations; outdoor living and security products from Therma-Tru, LARSON, Fiberon, Master Lock and SentrySafe; and MasterBrand Cabinets’ wide-ranging offerings from MANTRA, Diamond, Omega and many more. Visit www.FBHS.com to learn more about FBHS, its brands and how the Company is accelerating its environmental, social and governance (ESG) commitments.
Source: Fortune Brands Home & Security, Inc.