Leaders to Discuss Strategic Vision for Both
Fortune Brands Innovations, Inc. and MasterBrand, Inc. Beginning at
9 a.m. ET
Fortune Brands Home & Security, Inc. (NYSE: FBHS or “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.
Webcast Details
The Fortune Brands presentation will begin at 9:00 a.m. ET, and
the MasterBrand presentation will begin at approximately 12:30 p.m.
ET.
A live video webcast and accompanying slide presentation will be
available on the Investor Relations section of the FBHS website at
https://ir.fbhs.com/upcoming-events, or at the Investor Day event
site at https://investorday.fbhs.com. A replay will also be
available online following the event.
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.
CAUTIONARY STATEMENT CONCERNING
FORWARD-LOOKING STATEMENTS
This presentation contains certain “forward-looking statements”
made within the meaning of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include all statements that
are not historical statements of fact and those regarding our
intent, belief, or expectations, including, but not limited to:
general business strategies, market potential, anticipated future
financial performance, the potential of our brands, the housing
market, the timing of the completion of the intended spin-off
transaction, and other matters. Statements preceded by, followed by
or that otherwise include the words “believes”, “positioned”,
“expects”, “estimates”, “plans”, “look to”, “outlook”, “intend”,
and similar expressions or future or conditional verbs such as
“will”, “should”, “would”, “may” and “could” are generally
forward-looking in nature and not historical facts. Where, in any
forward-looking statement, we express an expectation or belief as
to future results or events, such expectation or belief is based on
the current plans and expectations of our management. Although we
believe that these statements are based on reasonable assumptions,
they are subject to numerous factors, risks and uncertainties that
could cause actual outcomes and results to be materially different
from those indicated in such statements, including, but not limited
to: the expected benefits and costs of the intended spin-off
transaction; the tax-free nature of the spin-off; the expected
timing of the completion of the spin-off transaction and the
transaction terms; general business and economic conditions; our
reliance on the North American repair and remodel and new home
construction activity levels; our reliance on key customers and
suppliers; our ability to maintain our strong brands and to develop
innovative products while maintaining our competitive positions;
our ability to improve organizational productivity and global
supply chain efficiency; our ability to obtain raw materials and
finished goods in a timely and cost-effective manner; the impact of
sustained inflation, including global commodity and energy
availability and price volatility; the impact of trade-related
tariffs and risks with uncertain trade environments or changes in
government and industry regulatory standards; our ability to
attract and retain qualified personnel and other labor constraints;
the uncertainties relating to the impact of COVID-19 on the
Company’s business and results; our ability to achieve the
anticipated benefits of our strategic initiatives; our ability to
successfully execute our acquisition strategy and integrate
businesses that we have and may acquire; and the other factors
discussed in our securities filings, including in Item 1A of our
Annual Report on Form 10-K for the year ended December 31, 2021,
filed with the Securities and Exchange Commission. The
forward-looking statements included in this release are made as of
the date hereof, and except as required by law, we undertake no
obligation to update, amend or clarify any forward-looking
statements to reflect events, new information or circumstances
occurring after the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20221206005120/en/
INVESTOR CONTACT: Investor.Questions@fbhs.com
MEDIA CONTACT: Media.Relations@fbhs.com
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