Stanley Black & Decker CEO Becomes Chairman

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On Monday, toolmaker Stanley Black & Decker (NYSE: SWK  ) announced that it is giving Chief Executive Officer John F. Lundgren the additional title of chairman of the board of directors.

Current Chairman Nolan D. Archibald's term of office expires on March 12, at which time he will retire. One day later, Lundgren will don a second hat, becoming simultaneously chairman and CEO.

In other news, the company announced Monday that Chief Operating Officer James M. Loree received the additional title of president as of Jan. 13. Elsewhere, Senior VP for Human Resources Mark J. Mathieu will retire on March 31, to be replaced by his subordinate, Human Resources VP Joseph R. Voelker.

Finally, the company noted that its Q4 and full-year 2012 earnings results will be released on Jan, 24. Guidance remains unchanged at $1.28 in per-share earnings for the quarter, and $4.60 for the year, pro forma.

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9/26/2016 11:59 AM
SWK $121.13 Up +0.21 +0.17%
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