Spectrum Brands Announces Retirement of President, Latin America; Luis Cancio to Retire; Hartmut Junghahn Assumes Role
ATLANTA--(BUSINESS WIRE)--June 30, 2006--Spectrum Brands, Inc. (NYSE: SPC) announced today that Luis A. Cancio, its President, Latin America, has announced his planned retirement from the company effective September 30, 2006. His successor will be Hartmut Junghahn, who is being promoted from his current role of Vice President of Sales and Marketing, Latin America.
Spectrum Brands Chairman and Chief Executive Officer David A. Jones commented, "We are most appreciative of Luis' contributions over his seven years with Spectrum Brands, in which our Latin American business grew from approximately $100 million in revenue to over $200 million today. He has provided invaluable leadership both in that important geographic area and through his participation in Spectrum Brands' Executive Committee. We wish him well in all his future endeavors." Cancio joined Spectrum Brands in 1999 after a distinguished career with Duracell International and XCELL Group LLC, a private investment firm.
Junghahn will assume responsibility for the company's Latin American business unit effective July 1, and will join the company's Executive Committee, reporting directly to Chairman and CEO Dave Jones. Junghahn joined Spectrum Brands in 2003 as Division Vice President Sales and Marketing. Since that time he has played a critical role in leading the region's commercial agenda and in driving the continued growth of the company's Latin American business. Junghahn's leadership was critical in the effective turnaround of the recently acquired Brazilian Microlite business and the successful launch of Remington in Latin America. His prior business experience included key management roles within the Diageo and Swedish Match organizations throughout Europe and South America. A native German, he was raised in South America and received an MBA from the Sloan School of Management at the Massachusetts Institute of Technology.
"Hartmut brings significant management and marketing experience to lead our efforts in Latin America," said Jones. "We are confident that as President, Latin America, he will be instrumental in driving the execution of our strategic growth plans in this region."
Alfredo Mayne-Nicholls will be joining Spectrum Brands as the new Vice President, Sales and Marketing, Latin America, replacing Junghahn. He has most recently served as Global Business Director, Wal-Mart International Team, at Masterfoods USA, a MARS, Inc. Company. Prior to that he held a variety of management, marketing and sales positions at Avery Denison Corporation in South America and at KAO Brands and Kraft Foods, Inc. in the U.S. He earned an MBA in International Business at the Davis College of Business, Jacksonville University.
About Spectrum Brands, Inc.
Spectrum Brands is a global consumer products company and a leading supplier of batteries, lawn and garden care products, specialty pet supplies, shaving, grooming and personal care products, household insecticides and portable lighting. Spectrum Brands' products are sold by the world's top 25 retailers and are available in more than one million stores in 120 countries around the world. Headquartered in Atlanta, Georgia, Spectrum Brands generates approximately $2.6 billion in annualized revenues and has approximately 10,000 employees worldwide. The company's stock trades on the New York Stock Exchange under the symbol SPC.
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SOURCE: Spectrum Brands, Inc.