Jarden announces appointment of CFO Ian G. H. Ashken to President; Al LeFerve will be promoted to EVP of Finance and CFO, effective June 12
March 4, 2014
– Jarden Corporation (NYSE: JAH) today announced that it has expanded its executive leadership team. The new structure will help support Jarden's ongoing growth by bringing additional expertise, depth and proven talent to the senior management team.
"In 2013, Jarden achieved key long-term financial goals set in 2010 and now is the right time to expand our leadership team," stated Martin E. Franklin, Jarden's Executive Chairman. "We have achieved record performance with annualized revenue of approximately $8 billion with more than 120 powerful brands operating in over 100 countries around the world. The new management structure announced today not only acknowledges our considerably larger scale and our ability to develop strong talent from within, but also positions Jarden for even greater success in the near and long-term. Jim Lillie has done an outstanding job since seamlessly taking over the CEO role from me in 2011 and I expect the changes we are announcing today will be equally seamless. Jarden's unique Office of the Chairman structure remains unchanged and while titles may vary, our collective commitment to Jarden's future success remains the same."
Ian G. H. Ashken, currently Vice-Chairman and Chief Financial Officer, has been named Vice-Chairman and President. Mr. Ashken co-founded Jarden along with Martin E. Franklin in 2001, and has been integral in developing and executing the business plan that led to the Company's consistent track-record of growth. Within the Office of the Chairman, Mr. Ashken will continue to have primary responsibility for the financial, legal and administrative functions within the Company. In his new role, Mr. Ashken will expand the time he spends on ensuring that the unique characteristics that make up Jarden's DNA are recognized across the Company's expanding global business. The Company views maintaining Jarden's unique culture and business model as a key element of its future success.
Jarden will continue to operate the Office of the Chairman with three executives Martin E. Franklin, Executive Chairman; Ian G. H. Ashken as Vice-Chairman and President and James E. Lillie, Chief Executive Officer. Martin E. Franklin will continue to oversee corporate strategy. James E. Lillie will continue to direct the day-to-day operations of the Company while expanding his focus on international growth, margin opportunities and further leveraging our global platform.
Al LeFevre, currently Chief Financial Officer of Jarden Consumer Solutions will be promoted to Executive Vice President-Finance and Chief Financial Officer effective June 12, 2014.
Mr. LeFevre joined Jarden through the acquisition of American Household, Inc. (AHI) in 2005 and had been with AHI since 1997. He has held positions of increasing responsibility, rising to Chief Financial Officer of Jarden Consumer Solutions in 2002. Mr. LeFevre possesses more than 25 years of consumer products experience working with the leading brands of Jarden Consumer Solutions, and prior to that with The Quaker Oats Company. Mr. LeFevre began his career with Arthur Andersen & Co. as a Certified Public Accountant and graduated with distinction from Valparaiso University.
Al LeFevre will join Jarden's two existing Executive Vice Presidents to round out the senior management team. John Capps, currently, EVP, General Counsel will assume the new title of Executive Vice President-Administration and General Counsel, assuming responsibilities for Human Resources coinciding with the retirement of David Tolbert, currently Senior Vice President of Human Resources, in September 2014. Rich Sansone, who has held positions of increasing responsibility since joining the Company in 2005 and is currently Executive Vice President-Finance will assume the new role of Executive Vice President-Operations effectively immediately.
James E. Lillie, Chief Executive Officer commented, "We are focused on maintaining our growth and positive momentum in the future having just completed a significant acquisition and finishing a year that included record revenues, record segment earnings, record operating cash flow, and record adjusted earnings per share. At Jarden, we have a talented team, powerful brands and a diversified global operating model that affords us numerous opportunities for expansion. The expansion of our leadership team will further strengthen the foundation we have built at Jarden. We expect this structure to enhance operational efficiency, reduce risk and support our next stage of growth and profitability."
Ian G. H. Ashken stated, "Al LeFevre is an excellent candidate to assume the CFO title and will bring many years of successful operational and financial expertise to the role. I look forward to having more time to spend with Martin and Jim to create value from different aspects of our business in the future."
About Jarden Corporation
Jarden Corporation is a leading provider of a diverse range of consumer products with a portfolio of over 120 trusted, quality brands sold globally. Jarden operates in three primary business segments through a number of well recognized brands, including: Outdoor Solutions: Abu Garcia®, AeroBed®, Berkley®, Campingaz® and Coleman®, ExOfficio®, Fenwick®, Greys®, Gulp!®, Hardy®, Invicta®, K2®, Madshus®, Marker®, Marmot®, Mitchell®, PENN®, Rawlings®, Ride®, Sevylor®, Shakespeare®, Stearns®, Stren®, Trilene®, Volkl®, Worth® and Zoot®; Consumer Solutions: Bionaire®, Breville®, Crock-Pot®, FoodSaver®, Health o meter®, Holmes®, Mr. Coffee®, Oster®, Patton®, Rival®, Seal-a-Meal®, Sunbeam®, VillaWare® and White Mountain®; and Branded Consumables: Ball®, Bee®, Bernardin®, Bicycle®, Billy Boy®, Crawford®, Diamond®, Dicon®, Fiona®, First Alert®, First Essentials®, Hoyle®, Kerr®, Lehigh®, Lifoam®, Lillo®, Loew Cornell®, Mapa®, NUK®, Pine Mountain®, ProPak®, Quickie®, Spontex®, Tigex® and Yankee Candle®. Headquartered in Florida, Jarden ranks #383 on the Fortune 500 and has over 30,000 employees worldwide. For further information about Jarden, please visit www.jarden.com.