Fortune Brands executive chairman retiring

Fortune Brands Home & Security, Inc. announced the planned retirement of Christopher Klein, executive chairman, from the company’s board of directors.

The move is effective Dec. 31 of this year. 

Klein was the company’s first CEO and joined the former parent company, Fortune Brands, Inc. in April of 2003 as SVP of strategy and corporate development. He later became president and COO of the home division in 2009, and CEO in 2010.

“This year, the business has reacted and performed exceedingly well amidst a global health pandemic and economic uncertainty,” Klein said. “Our strong financial results speak to the quality of our teams and strategic plans, and our operational excellence. Fortune Brands’ demonstrated ability to outperform in any environment gives me and our board the confidence to enable me to step down as chairman of the board in accordance with the multi-step leadership transition plan we initiated several years ago.”

Klein retired as CEO in January and transitioned to his current role. He has continued to provide leadership to the board and work closely with Nicholas Fink, his successor as CEO.

A new non-executive chairperson will be appointed by the board by the end of 2020, and Fink will continue to lead the business as CEO, Fortune said.

Based in Deerfield, Ill., Fortune’s segments are plumbing, cabinets, and doors and security. Its brands include Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert and Rohl under the Global Plumbing Group; more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, Fiberon composite decking and Master Lock and SentrySafe security products in the Doors & Security segment.