Fortune Brands Innovations, Inc. (FBIN): restructuring charge — FBIN to consolidate U.S. offices, eliminate Group President role; CFO takes new security post

Fortune Brands Innovations, Inc.

Consolidating U.S. regional offices into Deerfield, IL HQ; expects $50M-$80M in restructuring charges, completion by Dec 2026.
Eliminates Group President role; Cheri Phyfer to serve as advisor through July 1, 2025, then depart.
CFO David Barry appointed President, Security and Connected Products; will continue as CFO until successor named.
New HQ to accommodate 1,000+ professionals; Illinois EDGE tax credits awarded.
San Francisco digital office and all manufacturing, distribution, and international sites continue operations.

item 2.05 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

David V. Barry

President, Security and Connected Products

FBIN · Fortune Brands Innovations, Inc.

Effective: 2025-01-22
Filed: January 22, 2025, 6:59 PM ET

the Company notified Mr. David V. Barry, Executive Vice President and Chief Financial Officer of the Company, that he would be appointed as President, Security and Connected Products, effective January 22, 2025.

Departed

Cheri M. Phyfer

Group President

FBIN · Fortune Brands Innovations, Inc.

Effective: 2025-01-22
Filed: January 22, 2025, 6:59 PM ET

the Company notified Ms. Cheri M. Phyfer, Executive Vice President and Group President, that she will no longer serve as an executive officer of the Company effective January 22, 2025.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David V. Barry was appointed as President, Security and Connected Products at Fortune Brands Innovations, Inc..

Action: appointed
Role: President, Security and Connected Products

Exact text from the filing

the Company notified Mr. David V. Barry, Executive Vice President and Chief Financial Officer of the Company, that he would be appointed as President, Security and Connected Products, effective January 22, 2025.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cheri M. Phyfer departed as Group President at Fortune Brands Innovations, Inc..

Action: eliminated
Role: Group President

Exact text from the filing

the Company notified Ms. Cheri M. Phyfer, Executive Vice President and Group President, that she will no longer serve as an executive officer of the Company effective January 22, 2025.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Fortune Brands Innovations, Inc. announced a restructuring with charges of approximately $50 million to $80 million affecting U.S. regional offices.

Type: restructuring
Charge: approximately $50 million to $80 million
Affected area: U.S. regional offices

Exact text from the filing

related to employee relocation, severance, retention, non-cash asset related costs, lease exit costs, and other transition activities estimated in the range of approximately $50 million to $80 million in the aggregate, the majority of which are expected to be cash charges that will be spread through the balance of this fiscal year and fiscal year 2026. At this

View on SEC.gov

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Fortune Brands Innovations, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-007550

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