ATLANTA — Newell Rubbermaid, whose portfolio includes the hair accessories brand Goody, has announced that its president and CEO, Mark Ketchum, will retire later this year.

An executive recruiting firm has been retained to conduct an outside search for Ketchum's replacement and also assist with the assessment of internal candidates, the company stated. To help ensure a smooth and transition, Ketchum plans to remain on the company¹s board through the spring of 2012.