Newell Brands Inc. (NASDAQ:NWL) Q3 2019 Earnings Conference Call Transcript

Nov 01, 2019 • 08:30 am ET

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Newell Brands Inc. (NASDAQ:NWL) Q3 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good morning and welcome to Newell Brands' Third Quarter 2019 Earnings Conference Call. [Operator Instructions] A live webcast of this call is available at ir.newellbrands.com.

I will now turn the call over to Nancy O'Donnell Senior Vice President of Investor Relations. Ms. O'Donnell you may begin.

Executive
Nancy O'Donnell

Thank you. Good morning everyone. Welcome to Newell Brands' Third Quarter Earnings Call. On the call with me today are Ravi Saligram our President and CEO; and Chris Peterson our CFO. During the course of today's call we will make forward-looking statements. These forward-looking statements involve risks and uncertainties. Actual results or outcomes could differ materially from management's expectations. I refer you to cautionary language available in our press release and the Risk Factors section of our latest Form 10-Q for a further discussion of forward-looking statements. Please also recognize that we will refer to certain non-GAAP financial measures. Reconciliations between GAAP and these normalized measures can be found in today's earnings release table as well as on the Investor Relations website and in our latest Form 10-Q.

Now I'll turn the call over to Ravi.

Executive
Ravi Saligram

Thank you Nancy. Good morning everybody and welcome. I'm absolutely delighted to have joined Newell Brands and I'm excited about the company's future. In the first 30 days of my listening tour I've visited our eCommerce group the design center 2 manufacturing plants and all 7 businesses during which I've had an opportunity to review our product lines the state of the business as well as conduct town halls where I've addressed over 1000 employees and met with nearly 150 employees in small group settings. Let me share my early read on the company. We have dedicated and passionate employees who want to win. I admire their resilience. They've gone through a lot of churn in the past two years. We can maximize their potential and drive better outcomes through strong leadership and providing clarity and stability of direction and priorities. We have an opportunity to optimize our organizational structure to better leverage our scale functional capabilities and provide continuity to our go-to-market approach with our top customers. We need to find the appropriate and harmonious balance between being centralized and decentralized without causing significant internal disruption. We have an opportunity to better integrate our businesses and create a common unified go-forward winning Newell culture.

We will work hard to create an external focus improve employee engagement and develop aligned cohesive teams. To this end I've appointed Steve Parsons as our new CHRO and he joined a week after I did. Steve partnered with me in turning around OfficeMax and is skilled at leveraging human capital and attracting top talent. Well iconic brands with strong equity, the household names forever, several need to be refreshed and rejuvenated through timely and meaningful innovation that appeal to today's consumer. We will also work on strengthening channel management through appropriate Brand segmentation. I'm excited about our foundational e commerce capabilities at our e commerce central excellence base in Hoboken. It is very