Energizer To Split Household Products, Personal Care Divisions Into Two Firms

(RTTNews) - Energizer Holdings Inc. (ENR) said its Board of Directors has authorized management to pursue a plan to separate the company's Household Products and Personal Care divisions into two independent, publicly traded companies.

The separation is planned as a tax-free spin-off to the company's shareholders and is expected to be completed in the second half of the 2015 fiscal year.

Household Products, with batteries and portable lighting products, is expected to generate strong margins and significant cash flows, and will be anchored by the Energizer and Eveready brands.

Personal Care is expected to be a leading pure-play consumer products company with an attractive stable of well-established brand names.

Upon completion of the separation, Ward Klein, currently Chief Executive Officer, is expected to serve as Executive Chairman of the Board of standalone Personal Care.

David Hatfield, currently President and Chief Executive Officer of Energizer Personal Care, is expected to serve as Chief Executive Officer of standalone Personal Care.

J. Patrick Mulcahy, currently Chairman of the Board, is expected to be Executive Chairman of the Board of standalone Household Products.

Alan Hoskins, currently President and Chief Executive Officer of Energizer Household Products, is expected to serve as Chief Executive Officer of standalone Household Products.