ATLANTA ( TheStreet) -- Newell Rubbermaid ( NWL) CEO Mark Ketchum is expected to retire after the board finds a successor, the Wall Street Journal reports.

The maker of consumer brands, like Rubbermaid storage tubs and Paper Mate pens and pencils, is expected to make the announcement Tuesday, the Journal reports.

Spencer Stuart, a recruiting firm, has been hired to help the board consider internal and outside prospects, a process expected to take four to six months, a Newell spokesman told the Journal.

Ketchum told the Newell board when he took the job in early 2006 that he would stay for five years. In an interview with the Journal Monday, Ketchum said he was leaving because the company has completed his transformation plan.

Newell's share price has dropped since Ketchum was hired, but its gross profit margins have improved, thanks largely to cost cuts, a spokesman told the newspaper.

Newell shares closed Monday at $18.08, up 1 cent.

-- Written by Joseph Woelfel

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