When Michael Polk stepped into the CEO role at Newell Rubbermaid in 2011, he faced a challenging business landscape characterized by retail disruption and economic uncertainty following the 2008 financial crisis. His response was the creation and execution of a comprehensive “Growth Game Plan” that would fundamentally reshape the organization over his eight-year tenure.
Strategic Vision and Structural Transformation
Polk’s approach began with a foundational shift in how Newell operated. Rather than continuing as a holding company with disparate brands, he envisioned an integrated operating company that could leverage shared capabilities across its portfolio. This strategic reorientation required significant organizational restructuring.
“We made this choice deliberately, but we didn’t do it lightly. The people impacted had their lives disrupted and the change we executed fundamentally changed the way the organization worked,” Polk explained about the difficult decision to streamline leadership, which included eliminating half of the company’s vice president positions and reducing overall staffing by approximately 20%.
This structural transformation, while challenging to implement, created the foundation for increased marketing investment and accelerated growth. The restructured organization provided greater focus and accountability within operating divisions, enabling more agile decision-making and resource allocation.
Capability Development and Portfolio Optimization
Polk recognized that organizational structure alone wouldn’t drive transformation. His Growth Game Plan included substantial investments in talent development and new capabilities.
“The progress we made would not have happened without the strengthening of the leadership team and the investment in talent deeper in the organization,” Polk noted, emphasizing how building organizational capability supported sustainable growth.
The third component of Polk’s transformation strategy involved comprehensive portfolio reshaping. Over eight years, he led 35 transactions—balanced between acquisitions and divestitures—to create a focused consumer goods portfolio. This strategic realignment transformed Newell Rubbermaid into Newell Brands, a $10 billion enterprise with leadership positions across seven consumer categories including writing instruments, baby gear, food storage, and kitchenware.
Complementing these portfolio changes, Polk prioritized digital commerce capabilities, growing e-commerce from 9% of Newell’s business in 2011 to over 20% by 2019.
Measurable Impact and Collaborative Leadership
The results of Polk’s Growth Game Plan were substantial. Newell’s net sales nearly doubled from $5.4 billion to $9.4 billion during his tenure, representing a 7.2% compound annual growth rate. More impressively, the company’s enterprise value nearly tripled between 2011 and 2019.
Polk attributes this success to collaborative leadership across the organization. “The transformation of Newell Rubbermaid into Newell Brands was driven by a determined and highly capable group of leaders that stretched deep into our organization. To achieve what we achieved could only have occurred by playing as a team which we strived to do every single day.”
When Polk retired in 2019 after eight years as CEO and ten years on the board, he left behind a fundamentally transformed organization—one with greater focus, enhanced capabilities, and a stronger market position across its core consumer categories.