Stanley Black & Decker names Donald Allan Jr. as CEO effective July 1, 2022; reaffirms FY2022 outlook

STANLEY BLACK & DECKER, INC.

Donald Allan Jr., currently President and CFO, appointed CEO effective July 1, 2022, succeeding James Loree.
Corbin Walburger named Interim CFO; Heidrick & Struggles searching for permanent CFO.
Allan receives base salary of $1.25M, promotion LTI grant of $3.6M, and FY2022 target LTI of $6.75M.
Company reaffirms FY2022 GAAP EPS guidance of $7.20-$8.30; adjusted EPS $9.50-$10.50; FCF $1.0-$1.5B.
Plan to rebalance $200-$250M of annualized investments to fund growth and supply chain productivity.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

James M. Loree

Chief Executive Officer

SWK · STANLEY BLACK & DECKER, INC.

Effective: 2022-07-01
Successor: Donald Allan Jr.
Filed: June 1, 2022, 7:59 PM ET

He will succeed James M. Loree, who has served as Chief Executive Officer since 2016. Mr. Loree also will resign from the Board of Directors of the Company, effective July 1, 2022.

Role change

Donald Allan Jr.

Chief Executive Officer

SWK · STANLEY BLACK & DECKER, INC.

Effective: 2022-07-01
Filed: June 1, 2022, 7:59 PM ET

the Board of Directors of Stanley Black & Decker, Inc. (the “Company”) appointed Donald Allan, Jr., 58, currently President and Chief Financial Officer, its next Chief Executive Officer, effective July 1, 2022.

Appointed (interim)

Corbin Walburger

Interim Chief Financial Officer

SWK · STANLEY BLACK & DECKER, INC.

Effective: 2022-07-01
Filed: June 1, 2022, 7:59 PM ET

the Board also appointed Corbin Walburger, 51, currently Vice President of Corporate Business Development, to serve as Interim Chief Financial Officer, effective July 1, 2022.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

James M. Loree resigned as Chief Executive Officer at STANLEY BLACK & DECKER, INC..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

He will succeed James M. Loree, who has served as Chief Executive Officer since 2016. Mr. Loree also will resign from the Board of Directors of the Company, effective July 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Donald Allan Jr. was appointed as Chief Executive Officer at STANLEY BLACK & DECKER, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors of Stanley Black & Decker, Inc. (the “Company”) appointed Donald Allan, Jr., 58, currently President and Chief Financial Officer, its next Chief Executive Officer, effective July 1, 2022.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Corbin Walburger was appointed as Interim Chief Financial Officer at STANLEY BLACK & DECKER, INC..

Action: appointed
Role: Interim Chief Financial Officer

Exact text from the filing

the Board also appointed Corbin Walburger, 51, currently Vice President of Corporate Business Development, to serve as Interim Chief Financial Officer, effective July 1, 2022.

View on SEC.gov

STANLEY BLACK & DECKER, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-164538

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