The board of directors at Stanley Black & Decker has appointed Donald Allan Jr., currently president and chief financial officer, as chief executive officer of the company with effect from 1 July 2022. He will succeed James M. Loree, who has been CEO since 2016. Upon accepting his new role, he will join the board of directors and retain his title as president. “Since joining the company in 1999, Donald Allan has been instrumental in driving the company's growth and transformation strategy,” reports Andrea J. Ayers, chair of the board of directors. He was also jointly responsible for the Global Operations and Supply Chain divisions and headed the security business at Stanley, the Outdoor Products group and the Asia Tools & Storage division. He was also responsible for finances, information technology, margin resiliency, Industry 4.0 and advanced analytics.
In addition, the company has appointed Corbin Walburger as interim chief financial officer with effect from 1 July 2022. He has been with Stanley Black & Decker for 14 years and is currently vice president of corporate business development with responsibility for mergers, acquisitions, divestitures as well as the company's corporate venture initiative. Prior to that, Walburger had worked at Goldman, Sachs & Company for ten years.