Newell Brands stock (NYSE:NWL) is surging on Monday afternoon as the company announced that it was hiring a new Chief Financial Officer in Christopher Peterson.

The Hoboken, New Jersey based company said that it is bringing in Peterson in order to strengthen the Newell Brands leadership team with the appointment officially occurring on December 3rd. He will report to the company President and CEO Michael Polk.

Peterson has plenty of industry experience as he was most recently working as the Chief Operating Officer, Operations at Revlon (NYSE:REV). He has also had senior executive roles at Procter & Gamble (NYSE:PG) and Ralph Lauren (NYSE:RL) over the years.

The new Newell Brands CFO has plenty of experience with financial planning and management roles, as well as a deep knowledge of the consumer goods space. Peterson’s appointment makes sense due to his track record improving operational efficiency and corporate restructuring plans.

“I am very excited to join Newell Brands and am energized by the opportunity to partner with Mike and the leadership team in building a world class finance and IT capability at Newell, while strengthening the operational and financial performance of the company,” said Chris Peterson.

He will be replacing Ralph Nicoletti for the role, who plans to retire at the end of 2018.

NWL stock is up about 8.1% on Monday following the news.