"In January 2025, Fortune Brands Innovations announced it was moving its company's portfolio from individual offices across the country to one central headquarters outside Chicago, which meant hundreds of employees would need to relocate, or else lose their jobs."
"That summer, the company said that while most employees chose not to relocate, it exceeded industry benchmarks for the number of people who said 'yes' to the move, though it declined to provide specific figures."
"According to The Wall Street Journal, activist investor Ed Garden built a stake in Fortune Brands, having criticized Fink as 'lacking leadership and industry experience' and arguing that the company risked making the same mistake with Banati."
"In the past five years, under Fink's leadership, the company saw slowing sales growth and declining profit margins as housing demand."
In January 2025, Fortune Brands Innovations announced a move to a central headquarters near Chicago, requiring employee relocations. Many employees opted not to move, leading to numerous departures. By February 2026, CEO Nicholas Fink resigned to join Constellation Brands, and Amit Banati was set to replace him but declined the position. Activist investor Ed Garden criticized Fink's leadership, prompting a new CEO search. David Barry was appointed interim CEO as the company faced slowing sales growth and declining profit margins in the housing market.
Read at Fast Company
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