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Newell Brands CEO to retire

Newell Brands Inc. said March 14 that CEO and President Michael Polk will retire from the company at the end of the second quarter.

Polk has been at the helm of the company, which makes consumer products under brands like Sharpie and Rubbermaid, since 2011.

"With the accelerated transformation plan largely complete and the business beginning to turn, I believe now is the right time to transition to the next generation of leadership," Polk said in a statement. He added that he will work with the board and the management team to ensure a smooth transition over the next couple of months.

Executive search firm Heidrick & Struggles is helping Newell Brands find a new CEO, according to the release.