---
schema_version: "secwatch.filing_event.v1"
accession: "0000049826-23-000046"
form_type: "8-K"
ticker: "ITW"
cik: "0000049826"
company_name: "ILLINOIS TOOL WORKS INC"
filed_at: "2023-09-07T23:59:59+00:00"
generated_at: "2026-06-10T23:04:31.577500+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ITW names Christopher O'Herlihy as CEO effective Jan 1, 2024; Santi becomes Non-Executive Chairman

## Summary
- Christopher A. O'Herlihy, current Vice Chairman, named President and CEO and elected to Board, effective Jan 1, 2024.
- E. Scott Santi steps down as CEO on Jan 1, 2024; remains Chairman until Mar 1, 2024, then Non-Executive Chairman.
- O'Herlihy receives $1.3M base salary and annual incentive target of 150% of year-end base salary.
- Santi gets non-employee director comp plus additional $250K annual stock grant as Non-Executive Chairman.
- Transition follows multi-year succession planning; O'Herlihy is eighth CEO in ITW's 112-year history.

## SEC filing metadata
- accession: 0000049826-23-000046
- form_type: 8-K
- ticker: ITW
- cik: 0000049826
- company_name: ILLINOIS TOOL WORKS INC
- filed_at: 2023-09-07T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49826/000004982623000046/0000049826-23-000046-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49826/000004982623000046/itw-20230906.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000049826-23-000046
- JSON: https://secwatch.observer/filing/0000049826-23-000046.json
- Plain text: https://secwatch.observer/filing/0000049826-23-000046.txt

## Key facts
- Executive change
  E. Scott Santi was appointed as Non-Executive Chairman of the Board at ILLINOIS TOOL WORKS INC.
  - Action: appointed
  - Role: Non-Executive Chairman of the Board
  source text: The Board of Directors appointed Mr. Santi as Non-Executive Chairman of the Board, effective March 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000046/0000049826-23-000046-index.htm
- Executive change
  E. Scott Santi departed as Chief Executive Officer at ILLINOIS TOOL WORKS INC.
  - Action: stepped down
  - Role: Chief Executive Officer
  source text: E. Scott Santi informed the Board of Directors of Illinois Tool Works Inc. (the “Company”) that he will step down as Chief Executive Officer, effective January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000046/0000049826-23-000046-index.htm
- Executive change
  Christopher A. O'Herlihy was elected as President and Chief Executive Officer at ILLINOIS TOOL WORKS INC.
  - Action: elected
  - Role: President and Chief Executive Officer
  source text: the Company’s Board of Directors elected Christopher A. O’Herlihy, age 59, as President and Chief Executive Officer and as a member of the Company’s Board of Directors, effective January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/49826/000004982623000046/0000049826-23-000046-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.