Newell Brands Inc.—a company that plays in diverse categories that range from ski and snowboard equipment to ballpoint pens to candles to food storage to name just a few—has unveiled a series of changes following comprehensive strategic review of its business conducted since the completion of the Newell Rubbermaid and Jarden combination. The firm says it will transform from a holding company to an operating company and, with a “new set of investment priorities and a sharpened set of portfolio...