Fortune Brands will host an Investor Day in advance of its planned separation into two companies, which is expected to occur on December 14. Shortly after the separation of MasterBrand, Fortune Brands will be changing its name to Fortune Brands Innovations. 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 Fortune Brands’ pursuit of 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. 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.
Published first on TheFly
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