MIDDLETON, WI (WTAQ) – The Wisconsin-based company that makes Ray-o-vac batteries and Remington shavers has started to look for a new CEO.
60-year-old David Lumley has been the president and CEO of Spectrum Brands of Middleton since April of 2010. He’ll stay on at least through the end of September, when the company’s fiscal year ends, to help provide a smooth transition to the firm’s new leadership.
Lumley will also remain on Spectrum’s board of directors after he retires.
Spectrum says it will consider both internal and external candidates for its new top official, which it expects to hire sometime this year.
Besides batteries and shavers, Spectrum supplies faucets and hardware under the Black and Decker and Farberware labels, among others.
Lumley said Spectrum Brands has enjoyed 5 straight years of record performance — and now is a good time for him to complete a move to Colorado and handle family affairs and outside board memberships.
Spectrum’s stock rose 10 cents a share in early trading Friday. It had a 36 percent increase last year.
(Story courtesy of Wheeler News Service)
