Spectrum Brands shuffles its board

Spectrum Brands Holdings has reordered its board of directors, with current CEO Andreas Rouvé replacing retired CEO David Lumley.

Rouvé has been elected to the board, effective Oct. 1. He's been serving as president and CEO since April 1, 2015.

This is the last step of the succession plan following Lumley's retirement, who is resigning from the board effective Sept. 30. Lumley has been on the board since April 2010.

“We are pleased to welcome Andreas to our board as he focuses on accelerating organic growth, expanding regionally, and increasing our rate of product innovation,” said David Maura, chairman of the board of Spectrum Brands Holdings. “Andreas is off to a strong start as our new CEO. We look forward to working closely with him as he executes on our strategic plans and takes our Company to the next level of growth and profitability.

“On behalf of our Board,” Mr. Maura said, “I want to thank Dave Lumley for his many valuable contributions over the past five years and wish him the very best with all of his future endeavors.”