Content about Michael Polk

May 3, 2013
Newell Rubbermaid to trim its portfolio

The company has announced plans to sell its “Hardware and Teach Platform” businesses.

Newell Rubbermaid has announced its intention to sell its Hardware and Teach Platform businesses -- the Bulldog, Shurline, Ashland and Amerock brands, the drapery hardware business, and Mimio.

“These are good businesses run by talented people but they do not fit with our strategy,” said CEO Michael Polk. 

In 2012, the Hardware and Teach Platform represented net sales of more than $300 million. Newell’s Irwin Tools brand is not part of the group up for sale.

August 10, 2012
Newell taps former Wal-Mart exec for board

Newell Rubbermaid named to its board of directors Ignacio Perez Lizaur, a former Wal-Mart Stores executive. 

Lizaur led Wal-Mart’s first international venture when he worked as director of Sam’s Club Mexico in 1991.

July 27, 2012
Newell Rubbermaid posts declines in Q2

Newell Rubbermaid’s net sales declined 1.9% to $1.52 billion in the second quarter ended June 30. Net income declined 23.8% to $111.8 million. But those declines didn’t prevent CEO Michael Polk from looking at the bright side and pointing to momentum.

Core sales, which exclude the impact of changes in foreign currency translation, grew by 0.4%. And net sales for the first six months were $2.85 billion, up 1.0 % from the first-half results last year.

December 7, 2011
Newell Rubbermaid gets boost in financing

Atlanta-based Newell Rubbermaid announced a new five-year $800 million syndicated revolving credit facility. 

Michael Polk, president and CEO said: “This enhanced credit facility reflects our solid financial position and improved balance sheet, further bolstering our financial flexibility and demonstrating our continued ability to access capital at attractive terms.”

This facility replaces a $665 million syndicated revolving credit facility that was scheduled to mature in November 2012.

November 16, 2011
New at Newell Rubbermaid: Corporate realignment

Newell Rubbermaid is consolidating its current three operating groups into two -- Newell Consumer and Newell Professional.

The move, part of its previous realignment of its global business units as part of its Project Renewal initiative, will also see 13 global business units roll into nine. These changes take effect Jan. 1, 2012.

June 24, 2011
Michael Polk takes helm at Newell Rubbermaid

Former Unilever executive Michael Polk has been appointed president and CEO of Newell Rubbermaid, effective July 18. He succeeds Mark Ketchum, who is retiring but will remain a director until May 2012.