12:17 PM EDT, 03/16/2026 (MT Newswires) -- Fortune Brands Innovations ( FBIN ) is set to conduct a new search for a chief executive and replace incoming CEO Amit Banati to avert a proxy fight with activist investor Garden Investments, the Financial Times reported Monday.

The company has also added Ed Garden, head of Garden Investments and co-founder of Trian Fund Management, to the board, according to the report. Garden nominated a slate of directors earlier this year.

Banati, former chief financial officer of Kenvue, is set to assume the CEO role in May, the report said.

Fortune Brands Innovations ( FBIN ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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