Lillie Upped to CEO of Jarden; Franklin Becomes Executive Chairman
June 14, 2011,
RYE, N.Y.-Jarden Corp. has promoted James Lillie, president and chief operating officer, to CEO, making official its plan to split the chairman and CEO roles as it had announced in January.
Martin Franklin, who had been chairman and CEO, has now assumed the post of executive chairman. Lillie is in charge of the company's day-to-day operations, while Franklin oversees corporate strategy, including growth initiatives, corporate culture and philosophy. Both executives work with Ian Ashken, vice chairman and chief financial officer, under a new Jarden entity called Office of the Chairman.
In the statement, Franklin said the moves are "part of the natural evolution of Jarden. Jim has been an integral part of Jarden's executive management team since joining the company in 2003." Franklin also said he remains "committed to the company's success as ever in the future."