Fortune Brands Innovations, Inc. (NYSE: FBIN or "Fortune Brands" or the "Company"), today announced a series of governance and leadership updates:

  • The Board has launched a comprehensive search process, with the assistance of a leading executive search firm, to identify the Company's next Chief Executive Officer;
  • Amit Banati has decided to step aside and will no longer assume the role of CEO in May. He has also stepped down from the Board;
  • David Barry, President of Security and Connected Products, has been appointed to serve as Interim CEO, effective immediately. Nicholas Fink has accelerated his planned departure from the Company; and
  • The Board has appointed Ed Garden, Founding Partner and CEO of Garden Investments, as a director in connection with a cooperation agreement entered into with Garden Investments (the "Cooperation Agreement"). Mr. Garden will join the Board's Compensation Committee and Nominating and Governance Committee.