The latest salvo in the increasingly testy back and forth between Newell and Starboard Fund calls out former Jarden CEO Martin Franklin for his enormous golden parachute and the seven figure consulting fee he continues to draw. It suggests that Franklin and the Starboard-backed slate of directors have no plan to create shareholder value at Newell other than to copy the model of the legacy Jarden business, calling it a “back-to-the future” approach.

The letter also notes Franklin and Jarden were not “governance role models” pointing out that the executive team ... Log in to view full article.