Wells Fargo analyst Bonnie Herzog expects shares to Newell Brands to trade higher on news of that CEO Mike Polk will be retiring at the end of Q2. While no replacement was announced, it's hard to believe "things can get much worse from here," Herzog tells investors in a research note. She sees a low probability of an earnings revision as she thinks Newell's new CFO set fiscal 2019 guidance very conservatively. Management credibility seemed about as low as you can get, so investors will view the CEO change positively, Herzog contends. She reiterates an Outperform rating on Newell Brands.