Master Lock was first created in Milwaukee in 1921, and the brand has had a footprint in Wisconsin that has lasted more than 100 years. However, Legacy appears to be coming to a somewhat abrupt end.
Things are starting to change May 2023when the company announced plans to close its Master Lock manufacturing operations in Milwaukee by March 2024. The company moved work to other locations and outside suppliers, and about 330 employees lost their jobs. While the company ceased manufacturing operations, it maintained corporate headquarters in Oak Creek, a suburb of Milwaukee.
Now, the Lock Master is leaving Wisconsin completely. On Wednesday, Fortune Brands Innovations, Inc. announced it will close its Oak Creek headquarters while consolidating operations in Illinois.
Most of them read on IEN:
according to capAbout 120 people work at the facility and will have the option to keep their jobs — although their locations will be moved to Deerfield, a Chicago suburb about 60 miles south of Oak Creek.
Fortune Brands says so It is unification Regional U.S. offices at a single campus headquarters in Deerfield to “best position the company and its brands for long-term growth.”
Fortune Brands CEO Nicholas Fink says, “Combining all the brands and functions on the new campus will help us bring innovations and products to life.” faster, While making the organization more efficient and aligned.”
The new headquarters will occupy two buildings in Deerfield. According to the company, it chose Illinois for the expansion investment because of incentives offered through the state’s Economic Development for the Growing Economy (EDGE) program.
Fortune Brands will receive the Edge Tax Credit after an investment that creates at least 400 new full-time jobs and retains 128 full-time jobs in Deerfield. The specific investment amounts and square footage requirements in the published Edge Agreement have been revised.
By the end of 2027, Fortune expects the Deerfield campus to have more than 1,000 jobs.
Fortune Brands says its U.S. manufacturing facilities, distribution centers, sales offices and international locations will continue operations as usual, including the company’s San Francisco-focused office.
As part of the restructuring, the company is eliminating the Group President role and replacing it with direct reporting lines and close working relationships between the CEO and Fortune Brands’ commercial leaders. The current group president is Sherry feminine He will remain in an advisory role Until July 1, 2025before you leave the company.
Fink adds, “By serving as peers on the leadership team and reporting directly to me in one physical location, the leaders of our key businesses and commercial functions will Be better off To focus on the highest growth opportunities as we look to expand our leadership in brands, innovation and channel.”
As part of Shakeup, Fortune Brands has elevated several members to its executive team, including Leigh Avsec, EVP, external Affairs and Chief of Staff; Aaron Bowers, EVP, project development; Kevin Campbell, president of Moen; Mark-Hans Richter, EVP and Head of Marketing; Rachel Roberts, head of Ruhl House; and David Yoon, President, Outdoor.
Fortune Brands portfolio also Includes Moen, House of Rohl, Aqualisa, SpringwellTherma-Tru, Larson, Fiberon, Sentrysafe and Yale Residential.
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