NEW YORK, May 1, 2018 /PRNewswire/ -- Starboard Value LP (together with its affiliates, "Starboard"), a significant shareholder of Newell Brands Inc. ("Newell" or the "Company") (NYSE:NWL) with beneficial ownership of approximately 3.8% of the Company's outstanding shares, announced today that it has released a detailed presentation outlining the opportunity to create meaningful value at Newell. Starboard's presentation provides an in-depth analysis of the multiple initiatives that Newell's management and reconstituted Board of Directors (the "Board") can implement to drive operational improvements while overseeing Newell's asset divestiture program.
Starboard's presentation is available for viewing at the following link:
Jeffrey C. Smith of Starboard stated, "As part of our campaign to drive significant change at Newell, we have conducted a tremendous amount of research to understand the Company's issues and opportunities. We were pleased to reach a settlement with Newell, which resulted in a Board that will be comprised of nine of twelve new directors. For the benefit of the newly reconstituted Board, the management team, the employees, and the shareholders, we feel it is important to share our material findings and recommendations. We believe the released presentation illustrates the significant value creation opportunity at Newell. We expect management and the Board will carefully review our presentation alongside their own internal findings and observations to coalesce on an extensive operational turnaround plan at Newell with the goal of maximizing value for all shareholders."
About Starboard Value LP
Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.
Peter Feld, (212) 201-4878
Gavin Molinelli, (212) 201-4828
SOURCE Starboard Value LP