Stanley Black & Decker, Inc. Announces Management Changes
January 14, 2013 at 02:00 pm
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The Board of Directors of Stanley Black & Decker announced that John F. Lundgren, Chief Executive Officer, has been elected to serve in the additional capacity as Chairman of the Board of the company, effective March 13, 2013, following the expiration of Nolan D. Archibald's term as Executive Chairman of the Board. Mr. Archibald's Employment Agreement with the company expires on March 12, 2013, at which time Mr. Archibald will retire as Executive Chairman of the Board and as an executive of the company. Mr. Archibald will not stand for reelection as a Director of the company at its April 16, 2013 Annual Meeting of Shareholders.
The Board of Directors announced that James M. Loree, formerly Executive VP and Chief Operating Officer, has been elected to serve as President and Chief Operating Officer, effective January 13, 2013. Further, Mark J. Mathieu, Senior VP, Human Resources will retire on March 31, 2013, at which time Mr. Mathieu will be succeeded by Joseph R. Voelker, currently VP Human Resources. Mr. Loree and Mr. Voelker will report to Mr. Lundgren.
Stanley Black & Decker, Inc. specializes in the design, manufacturing and marketing of tools and engineering solutions for professional, industrial and construction and consumer use. Net sales break down by family of products as follows:
- electric tools and accessories (71.1%): tools and electric devices (drills wire, sanders, saws, grinders, batteries, etc.), garden tools (shears, cutting edge, trimmers, aerators , grinders, chainsaws, etc.), vacuum cleaners, lamps, lights, battery chargers, starter batteries, power converters, hand tools (measuring and leveling tools, planes, hammers, knives, blades, screwdrivers, saws, etc.), consumer mechanics tools (wrenches and sockets), plastic tool boxes, pneumatic tools and fasteners (nail guns, staplers, staples, etc.);
- industrial products (16.2%): professional and automotive mechanics tools (wrenches, sockets, electronic diagnostic tools, etc.), storage systems, plumbing, heating and air conditioning tools (pipe wrenches, pliers, tubing cutters, etc.), hydraulic tools, etc.;
- access and security products (12.7%): automatic doors, door closers, emergency exit devices, locking mechanisms, integrated security devices, etc.
Net sales are distributed geographically as follows: the United States (60.5%), Canada (4.7%), Americas (4.2%), France (4%), Europe (19.2%) and Asia (7.4%).
STANLEY BLACK & DECKER, INC. 
