The chief financial officer of Newell Brands Inc., NWL -3.14% Ralph Nicoletti, is retiring at the end of the year, the latest executive exit for the troubled consumer-goods conglomerate in recent months.
Newell—the umbrella firm for an array of consumer brands such as Yankee Candle and Sharpie—said Friday it will start looking for someone to serve as CFO and will consider both internal and external candidates.
Mr. Nicoletti, who joined the company in June 2016, is expected to receive a severance payment of $875,000 among other incentives, according to a securities filing.
The company also said Richard Davies, its executive vice president and chief development officer, will leave the his post June 30. Mark Tarchetti resigned as Newell’s president in May.
The changes in the executive ranks are the latest developments for a company that has struggled with its sales after closing its deal in 2016 to buy Jarden Corp., the parent of brands like Mr. Coffee and Rawlings.
Newell has been looking to get rid of some of its businesses to improve its operations. Last month, Newell said reached a deal to sell its disposable-packaging business, the Waddington Group, for around $2.3 billion to Novolex Holdings LLC. It also aims to sell Jostens, a yearbook business, and Pure Fishing.
Newell has also faced down activist investors who have been critical of the company’s performance and executives.
In April, Newell struck a deal to with activist investor Carl Icahn to give up two of the five board seats he won in favor of two candidates supported by activist hedge fund Starboard Value LP. In return, Starboard dropped its effort to overhaul the board, agreeing to withdraw its slate of directors and vote in favor of Newell’s nominees.
Shares of the company rose 0.5% in premarket trading. Year to date, they’ve fallen 24%.
Write to Allison Prang at allison.prang@wsj.com