Stanley Black & Decker names new president
Stanley Black & Decker has named Donald Allan Jr., currently president and chief financial officer, to chief executive officer, effective July 1, 2022.
Allan will succeed James M. Loree, who has served as CEO since 2016. Upon assuming his new role, Allan will join the Board of Directors and retain his title as president.
The company also appointed Corbin Walburger to serve as interim CFO, effective July 1, 2022.
"Don Allan's appointment reflects the Board's succession planning, and in naming him as our next CEO, we have chosen a world-class executive with exceptional experience and leadership skills," said Andrea J. Ayers, Chair of the Board of Directors.
Since arriving at the company in 1999, Don has been instrumental in driving the company's growth and transformation strategy. He is well respected throughout the organization as well as among our valued customers and the investment community. He is ideally suited to lead Stanley Black & Decker through its next stage of growth, and we expect a very smooth transition of leadership."
During his time as president and CFO, Allan has focused on driving strategic, long-term profitable growth and has overseen the execution and advancement of the company's operating model. He has shared responsibility for Global Operations and Supply Chain, and has overseen the Stanley Security business, the Outdoor Products Group and Asia Tools & Storage. He has also led Finance, Information Technology, Margin Resiliency, Industry 4.0 and Advanced Analytics.
Walburger has been with Stanley Black & Decker for 14 years and currently serves as vice president of Corporate Business Development with global leadership responsibility for mergers, acquisitions and divestitures, as well as the company's corporate venture initiative. He joined the company in 2008 following 10 years at Goldman, Sachs & Company.
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