Stanley Black & Decker
Stanley Black & Decker has named Christopher Nelson as the company's next president and CEO, effective October 1.
Nelson currently serves as Stanley Black & Decker's chief operating officer and executive vice president and president of the tools & outdoor business. He will succeed Donald Allan, Jr., who has served as CEO since July 2022.
Nelson will join the board of directors upon assuming the CEO role. As part of the transition, effective October 1, Allan will become executive chair of the Board, and Andrea Ayers, current chair of the board, will become lead independent director and continue to chair the executive committee.
Allan is expected to retire on October 1, 2026, at which time the board intends to revert to a governance structure of independent board chair.
"Don has made an indelible impact on Stanley Black & Decker, and we are deeply appreciative of his leadership over the past 26 years," Ayers says. "His tenure with the company and as CEO will be defined by his strong connection to our business, our customers and our brands, along with his tireless work to position the Company for lasting success. As the architect of our transformation strategy, Don has been instrumental in simplifying the business and has been a stabilizing force during a very challenging period. Don will be an important resource to Chris, the company and the board as he continues his journey with Stanley Black & Decker as executive chair."
"I am grateful to have had the opportunity to serve as CEO of Stanley Black & Decker and work alongside an extraordinarily talented and resilient team," Allan says. "Together, we have made numerous achievements, including successfully transforming Stanley Black & Decker into a more streamlined, focused organization with a durable portfolio of iconic brands and businesses that are poised to deliver sustainable market share gains. As we approach the end of our supply chain transformation and look ahead to the next horizon, the board and I believe now is the right moment to initiate this transition. I am fully committed to supporting Chris and the company in my role as executive chair, and I am confident that Stanley Black & Decker is in excellent hands under Chris' leadership."
"Chris is ideally suited to lead Stanley Black & Decker through our next phase of growth. On behalf of the board, we look forward to working with him even more closely in his role as president and CEO," Ayers says. "As a key member of the executive leadership team and a seasoned global leader, Chris has played a pivotal role in streamlining and optimizing the Company around our core businesses and strong portfolio of global brands. His leadership, strategic vision, commercial expertise and unwavering focus on end-users will continue to be invaluable to all our stakeholders."
"I am honored to become President and CEO of Stanley Black & Decker, an iconic American company with a proud legacy and an incredibly bright future," Nelson says. "Over the past two years, I have had the privilege of working closely with Don and the leadership team, gaining a deep understanding of the needs of our customers and end-users, as well as the unique opportunities ahead for our company. I am energized by the opportunity ahead and look forward to working together with the board and our teams around the world to deliver on the amazing potential for our brands and innovation in the marketplace. I am confident we have created a strong foundation with our transformation that positions the company for sustainable long-term growth and value creation."