A change in company management led us to eliminate the Fund’s position in Newell Brands (NASDAQ:NWL) during the reporting period. Under intense pressure from shareholder activists, the company’s Chief Executive Officer, the architect and driving force behind the company’s consumer products acquisition strategy, was forced to resign following weak sales and missed turnaround targets.
From Robert Olstein (Trades, Portfolio)'s All-Cap Value Fund 2019 annual letter.
