Stanley Black & Decker will have a new CEO, Donald Allan, Jr, who currently serves as their President and CFO, with the change to go into effect on July 1st, 2022.
I missed the news, but luckily a reader reached out with the info (thank you, John!).
Stanley Black & Decker owns many popular tool brands, such as Dewalt and Craftsman.
Allan will be succeeding James M. Loree, who served as SBD’s CEO since 2016. Corbin Walburger will serve as Interim CFO, also effective starting July 1st.
SBD investor press materials credit Loree for driving significant growth, increasing annual revenue from $11 billion in 2016 to over $19 billion that’s expected for 2022.
Allan is described as a “seasoned leader” and SBD veteran who has been with the company for 23 years.
It will be interesting to see if Stanley Black & Decker’s new leadership will result in any obvious changes.
Stanley Black & Decker’s stock price closed today at $114.68, barely higher than their 52 week low of $112.38 and nearly 50% off from the 52 week high of $213.35.