---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-195306"
form_type: "8-K"
ticker: "LECO"
cik: "0000059527"
company_name: "LINCOLN ELECTRIC HOLDINGS INC"
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-13T01:14:33.008473+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Lincoln Electric CEO Christopher Mapes to retire Dec 31, 2023; COO Steven Hedlund named successor effective Jan 1, 2024

## Summary
- Christopher Mapes will retire as President/CEO on Dec 31, 2023, and become Executive Chairman on Jan 1, 2024.
- Steven Hedlund, current COO (since May 2022), appointed President/CEO and Board member effective Jan 1, 2024.
- Hedlund's base salary raised to $1,010,000, target bonus to $1,464,500; receives $1M in equity grants (RSUs and stock options).
- Board increased from 11 to 12 directors to accommodate Hedlund's appointment.
- Transition follows structured succession; Mapes' tenure since 2012 delivered 523% total shareholder return.

## SEC filing metadata
- accession: 0001193125-23-195306
- form_type: 8-K
- ticker: LECO
- cik: 0000059527
- company_name: LINCOLN ELECTRIC HOLDINGS INC
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/59527/000119312523195306/0001193125-23-195306-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/59527/000119312523195306/d441093d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-195306
- JSON: https://secwatch.observer/filing/0001193125-23-195306.json
- Plain text: https://secwatch.observer/filing/0001193125-23-195306.txt

## Key facts
- Executive change
  Christopher L. Mapes retired as Executive Chairman at LINCOLN ELECTRIC HOLDINGS INC.
  - Action: retired
  - Role: Executive Chairman
  source text: notified the Company of his intention to retire from his position as President and Chief Executive Officer effective as of the close of business on December 31, 2023. After December 31, 2023, Mr. Mapes will be designated Executive Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/59527/000119312523195306/0001193125-23-195306-index.htm
- Executive change
  Steven B. Hedlund was appointed as President and Chief Executive Officer at LINCOLN ELECTRIC HOLDINGS INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: the Board elected Steven B. Hedlund, age 56, as President and Chief Executive Officer of the Company, effective as of January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/59527/000119312523195306/0001193125-23-195306-index.htm

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