Spectrum Brands CEO David Lumley Intends To Retire By End Of 2015 - Quick Facts

(RTTNews) - Spectrum Brands Holdings, Inc. (SPB) announced that its President and Chief Executive Officer or CEO, David Lumley intends to retire from the company by the end of 2015 as part of a planned succession process.

Spectrum Brands has instituted an active succession program, including commencement of a formal search for Lumley's replacement that will consider both internal and external candidates.

The company said Lumley will enter into a transition services employment agreement extending until the end of its fiscal 2015 year on September 30 for his continued services as CEO and to ensure an orderly and smooth transition to his successor. Lumley will retire upon the hiring of a new CEO some time during 2015 but will remain a member of the company's Board of Directors.