Newell Rubbermaid names new CFO

ATLANTA — Newell Rubbermaid has appointed Doug Martin as CFO, succeeding Juan Figuereo.

A 25-year veteran of the company, Martin most recently served as deputy CFO, where he is credited with designing a roadmap for streamlining the cost structure of the company and the global finance function. Prior to that, he held a number of key financial leadership positions, including VP finance for Newell's consumer business, with financial responsibility for the company's largest operating group; VP finance of office products, where he helped drive a significant turnaround in the group’s operating performance; and corporate VP — treasurer.

"We are making good early progress in the execution of our growth game plan by taking an aggressive stance toward reducing structural costs and working capital, and increasing brand investment," said Michael Polk, Newell Rubbermaid’s president and CEO. "Doug's strategic leadership, financial expertise and deep company and industry knowledge will be instrumental to helping us realize our growth ambition."

Juan Figuereo joined Newell Rubbermaid as its CFO in 2009, with a primary focus on strengthening the company’s balance sheet and operating cash flow. With the balance sheet metrics nearly in line with targeted leverage metrics and the company now focused on growth, Figuereo made the decision to step down. He will remain with the company for the next few months in order to ensure a seamless transition.