Libbey Inc. has named Mike Bauer as the company’s next CEO, effective March 25. Bill Foley, Libbey’s current CEO and chairman of the board, will retire as CEO effective March 24, but will remain with the company as executive chairman of the board. Bauer was also appointed to the company’s board of directors.
“As part of Libbey’s succession planning process, which has been underway for some time, we undertook an extensive search and our board believes that Mike is the ideal candidate to succeed Bill. Mike’s extensive experience and track record of success leading strategy, growth and margin expansion in multi-channel, global consumer product organizations are a strong fit for Libbey,” said John Orr, Libbey’s lead independent director.
“I’m truly excited to be joining Libbey and believe that our organization has a tremendous opportunity to build upon the foundational elements that Bill and the team have put in place over the last few years,” said Bauer.
The company said that Bauer has more than 30 years of experience with leading consumer product manufacturers. Most recently, he served as president of The Master Lock Company, the security segment of Fortune Brands Home & Security, Inc., from 2014 to 2018. In that role, he was responsible for all aspects of the global consumer goods manufacturer, including the marketing and distribution of locks, safes and other mechanical, electromechanical and digital security products.
Prior to joining The Master Lock Company, Bauer served as president of the U.S. business of Moen, also a Fortune Brands Home & Security, Inc. subsidiary and an international manufacturer, marketer and distributor of residential and commercial faucets, sinks, bath accessories and bath safety products.