Fortune Brands’ Board of Directors has approved the separation of MasterBrand, Inc. The separation is expected to be complete on Wednesday, December 14, 2022. See more.
MasterBrand is developing the infrastructure required to be an independent, publicly traded company, which includes building on the current leadership team and adding key roles. Our search for the best talent also extends to MasterBrand’s future board, and we are finalizing a world-class, independent and diverse Board of Directors. Additionally, an Information Statement on Form 10 has been submitted to the Securities and Exchange Commission, and we have formed the new holding company for Cabinets, MasterBrand, Inc. As the Cabinets business prepares for the separation, it continues to make progress on its strategic transformation, which is leading to the business’ increased agility, resilience and growth potential.
Fortune Brands is also proactively taking steps which will better position us to realize the many opportunities to drive growth and margin progression at an accelerated pace. On September 6, 2022, we announced key organization and leadership changes to align the organization and drive accelerated growth and productivity. For more information, see the press release. The company will also be rebranding to Fortune Brands Innovations, Inc., following the separation of the Cabinets business. Fortune Brands Innovations, Inc., better reflects our evolution as a business focused on driving accelerated growth in our categories through brand and innovation. See more.
We look forward to unveiling more of Fortune Brands Innovations’ advantaged strategy and MasterBrand’s strategic transformation at our Investor Day, expected to take place on December 6, 2022, at the New York Stock Exchange. For those not attending in-person, the event will be available virtually on our website.
Please visit our Investor Day event site, investorday.fbhs.com, for more information.