FBIN: Jesse Singh Appointed CEO, a Win for FBIN

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FBIN: Jesse Singh Appointed CEO, a Win for FBIN

EQUITY RESEARCH QUICK TAKE

RBC Capital Markets, LLC

Mike Dahl (Analyst)

Christopher Kalata, CFA (AVP)

Stephen Mea (Senior Associate)

June 29, 2026

Fortune Brands Innovations Inc.

Jesse Singh Appointed CEO, a Win for FBIN

NYSE: FBIN | USD 45.96 | Outperform | Price Target USD 50.00

Sentiment: Positive

Our View: This morning, FBIN announced (link) that its Board of Directors has unanimously appointed Jesse Singh as its new

CEO and to its Board of Directors, effective today. Mr. Singh brings a wealth of building products experience to the FBIN story,

having most recently served as CEO of The AZEK Company from '16 until the company's sale to JHX in '25. During his time at AZEK,

Mr. Singh helped to drive notable operational excellence and innovation alongside material margin expansion, and we believe

many analysts (ourselves included) and investors viewed him as one of the most well-regarded executives amongst our coverage.

Our conversations with investors throughout FBIN’s CEO search process have consistently highlighted Mr. Singh as a consensus

preferred candidate, but many/most clients we spoke with expressed skepticism that he was obtainable (Mr. Singh most recently

has still been serving on the JHX Board and has been involved with the JHX-AZEK integration) - he was effectively the “aspirational”

CEO target hire, in our view. Accordingly, we see his hire a clear positive for the FBIN story due to 1) Mr. Singh's reputation and

deep operational expertise within building products given FBIN's need to improve execution across its portfolio, and 2) the hire

marking the end of short-term 'unknowns' and the beginning of a new chapter of the FBIN story. As part of his hire, Mr. Singh will