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Stanley Black & Decker announces CEO transition

John F. LundgrenStanley Black & Decker announced that chairman and chief executive officer John F. Lundgren will retire as CEO after more than 12 years with the company, effective July 31, 2016.

Mr. Lundgren has been Chairman and Chief Executive Officer of Stanley Black & Decker since 2004, when he joined the Company (then Stanley Works) in that position.

Mr. Lundgren began his business career in brand management at the Gillette Corporation in Boston, MA and later held functional and general management positions in the U.S. and Europe with Georgia Pacific and predecessor companies.

Mr. Lundgren is currently a member of the Board of Directors of Callaway Golf Company, Staples, Incorporated and the Executive Committee of NAM (National Association of Manufacturers), where he serves as Vice Chairman.

In addition, Mr. Lundgren is a member of the President's Advisory Council of the U.S. Chamber of Commerce, the Dartmouth Athletics Advisory Board, G100, The Business Council, Prium, and the Business Roundtable.

Mr. Lundgren will continue as Chairman of the Board until the end of the year and serve as Special Advisor to the Company through April 30, 2017.

James M. Loree, currently President and Chief Operating Officer, will succeed Mr. Lundgren as President and CEO on August 1, 2016 and join the Board at that time.

Mr. Loree joined Stanley Black & Decker (then Stanley Works) in 1999 as VP and Chief Financial Officer after 19 years with General Electric Company (GE). He was named EVP and CFO in 2002, EVP & Chief Operating Officer in 2009 and President & COO in 2013.

Mr. Loree served for over five years as a director of Harsco Corporation, including four as Audit Committee Chair.


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