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Spectrum Brands Holdings, Inc. (NYSE:SPB), currently trading at $54.87 and identified as undervalued according to InvestingPro Fair Value metrics, announced Wednesday that Faisal Qadir has been appointed Executive Vice President and Chief Financial Officer, effective immediately. The company’s stock has experienced a significant decline of about 26% over the past six months, despite maintaining strong fundamentals with a current ratio of 2.42. The company disclosed in a press release statement filed with the Securities and Exchange Commission that Qadir succeeds Jeremy W. Smeltser, who will remain a full-time employee through December 31, 2025, to assist with the transition and other strategic initiatives.
According to the filing, Smeltser’s departure is part of Spectrum Brands’ previously stated objective to reduce spending and is not the result of any disagreement with the company, its board, or management. Under the terms of his separation agreement, Smeltser will continue to receive his base salary for fiscal 2025, be eligible for a management incentive plan bonus based on actual performance, and receive pro rata vesting of certain long-term incentive plan awards. Upon his departure, he will be entitled to severance payments equal to 18 months’ base salary and his target annual bonus, paid over 18 months, along with health insurance benefits and other executive programs through the separation date. Smeltser will not participate in the company’s fiscal 2026 long-term incentive plan, and all other unvested equity awards will be forfeited.
Faisal Qadir, who has served as Vice President of Strategic Finance and Enterprise Reporting at Spectrum Brands since 2012, assumes the CFO role under a new employment agreement. Qadir’s prior roles at the company include Vice President of Investor Relations and CFO positions within the company’s Global Pet Care and Home and Personal Care businesses. Before joining Spectrum Brands, he held finance leadership roles at The Black & Decker Corporation and Stanley Black & Decker.
The agreement provides Qadir with an annual base salary of $450,000 starting in fiscal 2026, a management incentive plan target bonus of 75% of base salary, and eligibility for long-term incentive plan awards. In the event of termination without cause or resignation for good reason, Qadir is eligible for severance payments, pro rata bonus, continued medical coverage, and pro rata vesting of time-based equity awards.
There are no family relationships or related-party transactions between Qadir and any Spectrum Brands directors or executive officers, according to the company. The information is based on a press release statement filed with the SEC. Looking ahead, analysts maintain a positive outlook, with four analysts recently revising their earnings estimates upward for the upcoming period. Discover more insights about Spectrum Brands’ financial health and growth potential through the comprehensive Pro Research Report, available exclusively on InvestingPro, along with additional ProTips and detailed financial metrics.
In other recent news, Spectrum Brands reported its fiscal third-quarter earnings, revealing an earnings per share of $1.24, which fell short of the forecasted $1.35. The company also reported revenue of $699.6 million, missing expectations of $745.55 million. Despite these shortfalls, Spectrum Brands’ stock experienced a positive market reaction. RBC Capital lowered its price target for Spectrum Brands to $75.00 from $80.00, citing supply challenges and shipment halts due to tariff impacts as reasons for the adjustment. Meanwhile, Wells Fargo maintained its $60 price target and Equal Weight rating, noting improvements heading into the fiscal fourth quarter and management’s reiterated free cash flow guidance with an 11% yield. Superior Plus Corp. announced a quarterly dividend of CAD $0.045 per share, maintaining an annualized cash dividend rate of CAD $0.18 per share. The dividend is payable on October 15, 2025, to shareholders of record as of September 29, 2025. These developments highlight the ongoing financial activities and analyst perspectives surrounding these companies.
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