Fortune Brands CEO to retire

DEERFIELD - Fortune Brands Home & Security CEO Christopher J. Klein announced he will retire at the end of the year.

The company said Nicholas Fink will succeed Klein as CEO and join Fortune Brands' board of directors. The transition will become effective Jan. 6, 2020.

Klein will become executive chairman of the board of directors. David M. Thomas, current chairman of the board, will become the lead independent director.

Klein joined Fortune Brands in 2003 as senior vice president, strategy and corporate development. Since becoming president and chief operating officer in 2009, CEO in 2010, and taking the Company public in 2011, Klein guided the company through its recovery from the historic 2008 housing downturn. Over his decade of leadership, revenue has doubled and profits have grown by 15 times.

As part of a multiyear succession plan, Fink assumed the role of president and chief operating officer earlier this year to drive operational and strategic initiatives across the three operating divisions. He joined Fortune Brands in 2015 to lead the Global Growth & Development team until August 2016 when he became the president of the newly-formed Global Plumbing Group (GPG). Under Fink's leadership, the GPG grew into a multibrand, geography and channel business that acquired five brands, established several key strategic partnerships, accelerated new product development and relaunched the core Moen brand. Since its inception, the GPG has outperformed the market and maintained industry leading margins. Fink came from Beam Suntory where he was the president of Asia Pacific and South America, and formerly led the Canadian business.