Newell Rubbermaid

(NWL) - Get Report

named William T. Alldredge as president of corporate development and chief financial officer.

Alldredge, age 60, has been with the Freeport, Ill., consumer products company since 1983. He succeeds Dale L. Matschullat, who will serve as the company's general counsel.

Shares of Newell closed at $26.71, down 35 cents, or 1.3% on the

New York Stock Exchange