Terry L. Polistina, president of the Global Appliances division at Spectrum Brands Holdings, Inc., is stepping down following the completion of a months-long succession plan. He will continue to serve as a member of the company's Board of Directors.
Effective Sept. 30, Polistina will leave the company on the heels of a successful multi-year restructuring and integration of the Global Appliances business. His planned departure has made way for a new management structure at the company, per a succession plan outlined earlier in the year.
“Terry has made valuable and significant contributions to our global continuous improvement, supply chain and new product development processes, and to our Company’s overall growth and strategic development,” said Spectrum CEO Dave Lumley. “Under his leadership, we exceeded our initial cost synergy estimates from the acquisition of Russell Hobbs and the subsequent integration of our Home and Remington Personal Care divisions. Our Global Appliances division has been streamlined, is achieving record annual cost savings this year, and is currently introducing a record number of new products across the world. We thank Terry for his leadership and wish him well. We are grateful he remains a director of the Company.”
Steve Fraundorfer will step in as VP and general manager for Global Appliances, reporting to Lumley. Fraundorfer, who has been with the company for 20 years, will oversee all North American Appliances sales and marketing, in addition to his existing responsibilities for Global Appliances business operations.
Meanwhile, Andreas Rouvé will maintain his role as president of the company's International Appliances division and will continue reporting to Lumley.
Previously, Polistina was CEO of Russell Hobs and held several senior management roles at Applica Incorporated.