On March 16, 2026, Fortune Brands Innovations, Inc. (NYSE: FBIN) announced significant governance and leadership updates following the entry into a Cooperation Agreement with Garden Investment Management, L.P. The Board of Directors has appointed Ed Garden as a Class I director, effective immediately, with his term set to expire at the 2027 Annual Meeting of stockholders. This appointment comes as part of a broader strategy to enhance the company's governance structure and operational focus. The Cooperation Agreement includes provisions for a phased-in declassification of the Board, which will be proposed for stockholder approval at the upcoming 2026 Annual Meeting. Additionally, the company has initiated a comprehensive search for a new Chief Executive Officer, following the decision of Amit Banati to step aside from the role. David Barry, previously the President of Security and Connected Products, has been appointed as the Interim CEO. The Board has expressed confidence in the leadership transition, emphasizing the importance of maintaining continuity during this period. The company aims to leverage these changes to strengthen its market position and drive long-term value for shareholders. The Cooperation Agreement also stipulates that Garden Investment Management will withdraw its nominees for the 2026 Annual Meeting and support the Board's recommendations for director elections. These developments are expected to positively influence the company's governance practices and operational strategies moving forward.

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