India, March 23 -- In February 2026, Fortune Brands Innovations announced that Amit Banati had been appointed its chief executive officer, effective May 13, 2026. Banati resigned from his position as CFO at Kenvue to join Fortune Brands - only to be left effectively jobless after a governance shakeup at the Illinois-headquartered company.

However, despite never working a single day as the CEO, IIM Lucknow alum Amit Banati will walk away with a $18.4 million paycheck.

Fortune Brands' plan to install Amit Banati as CEO unraveled amid a broader governance shakeup and pressure from activist investors, most notably Ed Garden of Garden Investments. Banati had been tapped to replace CEO Nicholas Fink and scheduled to start in mid-May.

However...