On the heels of a financially sound 2013, Jarden Corporation has re-ordered and expanded its executive management structure in order to align the company with its current scale.
"We are focused on maintaining our growth and positive momentum in the future having just completed a significant acquisition and finishing a year that included record revenues, record segment earnings, record operating cash flow, and record adjusted earnings per share," said CEO James Lillie. "At Jarden, we have a talented team, powerful brands and a diversified global operating model that affords us numerous opportunities for expansion. The expansion of our leadership team will further strengthen the foundation we have built at Jarden. We expect this structure to enhance operational efficiency, reduce risk and support our next stage of growth and profitability."
Current vice-chairman and CFO Ian Ashken has been promoted to the role of vice-chairman and president. He will maintain his primary responsibility for the company's financial, legal and administrative functions and increase his focus on ensuring consistency across its expanding global business. Ashken was one of the original co-founders of the company in 2001 and has played an integral role in its success since.
Current CFO, Jarden Consumer Solutions Al LeFevre has been promoted to EVP finance and CFO, effective June 12. He has been with Jarden since it acquired American Household in 2005; he had been with the latter company since 1997.
Joining LeFevre at the EVP level will be current EVP general counsel John Capps, who will assume the role of EVP administration and general counsel in September, taking over for incumbent retiree David Tolbert. EVP finance Rich Sansone will assume the role of EVP operations, effective immediately.
Executive chairman Martin Franklin noted that the company had achieved annualized revenue of $8 billion, with more than 120 brands in over 100 countries around the world.
The company will maintain its Office of the Chairman structure with Ashken, Franklin and Lillie.