Newell Brands Inc. announced that Chris Peterson, chief financial officer and president, business operations, has been named president and chief financial officer. He will continue to lead all the company’s financial operations and maintain oversight of supply chain, procurement, IT, real estate, and global business services.
Peterson will continue to report to the company CEO Ravi Saligram.
“I am very pleased to announce that Chris Peterson has been appointed president and chief financial officer of Newell Brands and congratulate him on this well-deserved recognition. Chris has been an excellent partner to the Business Unit CEOs and me in the turnaround journey as we create a new Newell that drives sustainable, profitable growth,” Saligram said. Since joining Newell in 2018, Peterson has led the company’s complexity reduction efforts including SKU rationalization, consolidating multiple ERP systems, eliminating unnecessary applications, and reducing legal entities.
“Chris is driving operational excellence through a clear focus on automation, productivity improvements and leading Project Ovid, Newell’s supply chain transformation. He has been a driving force behind strengthening Newell’s balance sheet and meaningfully improving cash flow, reducing the cash conversion cycle from 115 days to 68 in the last three years. Under his leadership, our leverage ratio has steadily come down and S&P recently upgraded us to investment grade,” Saligram continued. “I also personally appreciate Chris’s steady hand and proactive execution in steering the organization through a difficult period of supply constraints and high inflation. I look forward to continuing to work closely with him on strategic and enterprise-wide initiatives to drive shareholder value.”
Prior to joining Newell Brands, Peterson held senior executive roles at Procter & Gamble, Ralph Lauren and Revlon, Inc. where he was chief operating officer, operations and chief financial officer. Peterson is currently a Board Member at BJ’s Wholesale Club and Chair of its Audit Committee.
Photo courtesy Newell Brands
