Fortune Brands Home & Security to change name to Fortune Brands Innovations

0
22

Fortune Brands Home & Security Inc. FBHS, -0.24% will separate into two companies on Dec. 14 following the spinoff of its MasterBrand Inc. cabinets business, with Fortune Brands changing its name to Fortune Brands Innovations Inc., the company said Tuesday. “I am thrilled to introduce Fortune Brands Innovations, a brand, innovation and channel leader in the home, security and commercial building markets,” said Fortune Brands CEO Nicholas Fink, in a statement. “Our focus on safety and sustainability, our ongoing digital transformation, and our disciplined approach to strategic acquisitions also set the stage for further long-term value creation,” he added. MasterBrand will trade on the New York Stock Exchange under the symbol MBC. Fortune Brands’ stock has fallen 42.5% in 2022, outpacing the S&P 500 Index’s SPX, -0.35% decline of 16.1%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleNeed to Know: Gold at $3,000? After a war-torn and inflation-racked year, here are some outrageous predictions worth pondering.
Next articleStocks edge higher at the open Tuesday in bid to rebound from Monday selloff

LEAVE A REPLY

Please enter your comment!
Please enter your name here