Press release
Newell Brands Provided an Update on Its Strategy at the dbAccess Global Consumer Conference
ATLANTA--(BUSINESS WIRE)-- Newell Brands Inc. (NASDAQ: NWL) presented today at the 2023 dbAccess Global Consumer Conference in Paris. Chris Peterson,
About this update from Newell Brands Inc.
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nNewell Brands Inc. (NASDAQ: NWL) presented today at the 2023 dbAccess Global Consumer Conference in Paris. Chris Peterson, President and Chief Executive Officer, and Mark Erceg, Chief Financial Officer, provided an update on the company’s strategic priorities, capital allocation framework and Evergreen Targets.\n\n\n“Our presentation highlighted a pivot in our front-end strategy and outlined the focused and deliberate choices we are making to strengthen the company’s consumer-facing capabilities while distorting investment to our most attractive value pools. We will leverage and further build upon the strengthened operational foundation we’ve established while harnessing the scale of our portfolio to drive competitive advantage,” said Chris Peterson.\n\n\n“I am confident that our clear strategic choices, paired with our experienced leadership team and talented employees, will enable the company to accelerate financial performance going forward. We see significant runway for value creation by unlocking the power of our brands, scale and operational discipline to drive sales growth, margin expansion and cash flow generation as we transition to a high-performance organization,” said Peterson.\n\n\nAs previously communicated, over the past several months, the leadership team has undertaken a refresh of the corporate strategy, which encompassed a comprehensive assessment of where Newell Brands stands versus best-in-class competition on the key capabilities required to win in this industry, an updated and integrated set of where to play and how to win choices, an assessment of the talent and culture required to enact the strategy refresh, as well as an evaluation of the capital allocation priorities required to support the new strategy.\n\n\nDuring today’s presentation, the company defined core capabilities that were assessed over the past several months, which informed the integrated set of where to play and how to win choices it will pursue going forward. The company also outlined the major changes the leadership team is executing, including:\n\n\n\nMeaningful improvement in front-end capabilities, including consumer understanding, brand management, innovation and go-to-market execution\n\n\n\nResource distortion to the company’s largest value pools, including the largest and most profitable brands, fast...