• by Sarah Mahoney  @mahoney_sarah, Yesterday

Newell Brands is reshuffling its executive ranks as the maker of Sharpie pens and Rubbermaid containers struggles to reverse declining sales and investor confidence.

The Atlanta-based company announced that it is realigning marketing responsibilities,  promoting Nick Hammitt, currently vice president of marketing, to CMO, while elevating current CMO Melanie Huet to co-CEO of the company’s home and commercial segment.

The changes come as Newell grapples with persistent sales declines and a stock price that has fallen more than 50% since January. The company reported a 5.3% revenue drop to $1.6 billion in its most recent quarter, along with a $37 million net loss. However, both results beat expectations, indicating that the company’s transformation plans are beginning to pay off. And sales of its core products declined just 2.1%.

Hammitt, who joined Newell in January after marketing stints at Campbell Soup and PepsiCo, will now oversee marketing strategy across the company's portfolio of household names including Mr. Coffee, Graco, and Oster.

Huet, meanwhile, will focus on growing market share in Newell's kitchen appliance brands alongside Mike McDermott, the former commercial segment president, who becomes her co-CEO partner. McDermott will handle B2B sales throughout the company, leaning into new areas of opportunity, such as healthcare, hospitality, and government markets. McDermott continues to oversee home fragrances, including the company’s Yankee Candle, Woodwick and Chesapeake Bay brands.

The restructuring reflects Newell's attempt to create clearer accountability for its consumer and business-to-business operations as it works through a multiyear turnaround plan. The company has been proactive in shifting manufacturing away from tariff-exposed regions, but investors remain skeptical about its ability to reignite growth in mature consumer categories.