Rubbermaid CFO To Retire Early After Six Years In Post

   DOW JONES NEWSWIRES 
 

Newell Rubbermaid Inc. (NWL) Chief Financial Officer Pat Robinson will retire early at the end of this year, ending a tenure that President and Chief Executive Mark Ketchum said was marked by leading the company's transformation in the last several years.

The consumer-goods maker has slashed production and jobs in the recession to offset a decline in sales, as shoppers opt for lower-cost and private-label brands. Beyond its namesake line, Rubbermaid owns Sharpie and Paper Mate pens and Calphalon cookware, among other products.

The 54-year-old Robinson has served as Rubbermaid's CFO for six years, having previously held the title at a mobile applications provider before joining Rubbermaid in May 2001 as controller. He also worked for Black & Decker Corp. (BDK) for 18 years.

Rubbermaid posted an increase in second-quarter profit on lower restructuring costs and higher margins, though sales were still down. Last month, Rubbermaid said it reduced its debt by $250 million as it closed a new $200 million accounts-receivable facility to replace a $450 million credit line.

Rubbermaid shares fell 13 cents to $14.90 recently.

-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291; [e-mail]