Jarden names new CEO

RYE, N.Y. — Jarden Corp., a manufacturer of a variety of branded consumer products, announced that James Lillie was named CEO effective immediately. Martin Franklin, formerly chairman and CEO of Jarden Corp., will serve as executive chairman, overseeing corporate strategy, including growth initiatives, corporate culture and philosophy.

As CEO, Lillie will be responsible for managing the day-to-day operations of the business and will continue to work with Franklin and Ian Ashken, Jarden's vice chairman and CFO, to focus on driving consistent, profitable growth across all of Jarden's business segments. In addition, Lillie will be joining the board of directors. All three executives will continue to operate under what has been known within the company as the office of the chairman.

"I want to congratulate Jim on his well-deserved promotion, and I look forward to continuing our long term relationship and working with him in this new capacity," said Franklin. "This change is part of the natural evolution of Jarden. Jim has been an integral part of Jarden's executive management team since joining the company in 2003 and I am confident that he is the right choice to drive the day-to-day operations of Jarden going forward. At this time, I will assume the role of executive chairman, where I will continue to set the strategic and philosophical direction of the company and closely collaborate with Jim and Ian to drive Jarden's continued growth as a global consumer products leader. I will continue to be as committed to the company's success as ever in the future."