"We will significantly enhance our competitive focus and improve our cost structure," said Chairman and CEO Dave Jones. "These changes will allow us to go to market faster with new, innovative products, as well as improve our ability to efficiently allocate resources on a worldwide basis. This business unit realignment will also facilitate the orderly execution of the asset sale process we announced in July."
The consolidation of the company's four geography-based segments (North America, Latin America, Europe/ROW, and Global Pet) into three operating segments will begin immediately. The company's Global Operations organization will be consolidated within the three business segments. Commencing in the second quarter of fiscal 2007, Spectrum's financial reporting will reflect segment results for the three global business units under the new operational structure.
• David Lumley, formerly president, North America for Spectrum Brands, was named president, Global Batteries & Personal Care and Home & Garden, and co-chief operating officer of Spectrum Brands.
• Remy Burel, president, Europe/ROW, and Hartmut Junghahn, executive vice president, Latin America, will continue to oversee their respective regions for the Global Batteries & Personal Care division, reporting to Lumley.
• John Heil will continue in his role as president, Global Pet Supplies, and has been named co-chief operating officer of Spectrum Brands.
• Kent Hussey, formerly president and chief operating officer, was appointed vice chairman of Spectrum Brands, responsible for spearheading the strategic direction of the company and for corporate business development.
• Randall Steward, executive vice president and chief financial officer, will report directly to Jones.
• Ken Biller, president, Global Operations, will oversee consolidation of the Global Operations organization into the three new business units and will report directly to Jones.
Spectrum Brands, Inc. (Atlanta, Georgia, U.S.) businesses include Remington shavers and trimmers, Rayovac batteries and lighting and Varta batteries and lighting.