Terry L. Polistina, president of Spectrum Brands Holdings' Global Appliances division, is leaving the company effective Sept. 30, 2013. He will remain a member of the Spectrum Brands board. Polistina is leaving following the successful completion of the multi-year restructuring and integration of the Global Appliances business and the implementation of a succession plan.
Polistina came to Spectrum Brands with the 2010 merger with Russell Hobbs. He also served with Applica Inc., a predecessor company to Russell Hobbs.
Steve Fraundorfer, with more than 20 years of manufacturing and operations experience at Spectrum Brands, was appointed vice president and general manager for Global Appliances. This role includes responsibility for North American Appliances sales and marketing in addition to his current responsibilities for Global Appliances business operations. Fraundorfer will report to Dave Lumley, CEO of Spectrum Brands. Andreas Rouve, President, International, will maintain responsibility for all international Appliances operations and will continue to report to Lumley.
The Global Appliances management structure was instituted earlier this year in preparation for Polistina's planned departure.
"Terry has made valuable and significant contributions to our global continuous improvement, supply chain and new product development processes, and to our Company's overall growth and strategic development," said Lumley. "Under his leadership, we exceeded our initial cost synergy estimates from the acquisition of Russell Hobbs and the subsequent integration of our Home and Remington Personal Care divisions. Our Global Appliances division has been streamlined, is achieving record annual cost savings this year, and is currently introducing a record number of new products across the world."
Polistina was appointed to the Spectrum Brands board in August 2009 and named president of Spectrum Brands' Small Appliances division upon the closing of the merger in June 2010 with Russell Hobbs, Inc., a global marketer of small kitchen and home appliances. He became president of Global Appliances in October 2010.
Prior to joining Spectrum Brands, Polistina was CEO of Russell Hobbs. Prior to Russell Hobbs, he served as chief operating officer of Applica Inc. from 2006 to 2007 and as chief financial officer from 2001 to 2007. Polistina also served as a senior vice president of Applica from 1998 to 2001. Applica was a global small appliances manufacturer and a predecessor company to Russell Hobbs.
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