Chris Peterson has been president of Newell Brands since May 2022, and now he’s tacking on the title of chief executive officer at the company.
Newell has tapped Peterson due to his role in the company’s turnaround strategy over the past four years, said chairman of the board Patrick Campbell. According to a corporate spokesperson, Peterson has led several initiatives, including overseeing Project Ovid, Newell’s supply chain transformation initiative, and “driving operational excellence through automation and productivity improvements.”
Peterson has a strong background with Newell, having joined the company in 2018 as chief financial officer before being promoted to president. He also took on roles such as president of business operations and interim chief executive officer.
Since joining, Peterson has also consolidated multiple ERP systems, worked in SKU rationalization, and eliminated unnecessary applications.
Prior to Newell, Peterson held senior executive roles with Revlon Inc., Ralph Lauren, and Procter & Gamble.
He will be taking on the expanded role beginning May 16. Peterson is replacing Ravi Saligram, who is retiring from Newell. Among the achievements during Saligram’s tenure were launching pandemic-related innovations, building e-commerce as a competitive advantage, and reducing complexity across the organization.
“I am honored that I will serve as Newell’s CEO, as we continue to strengthen the company and unlock its full potential,” said Peterson in a statement. “Despite the challenging market environment, we have a significant opportunity to drive profitable growth by building our core brands and taking further decisive actions to operate more effectively and efficiently.”