Stanley Black & Decker Names Don Allan President and CFO

Rhea-AI Summary

Stanley Black & Decker (NYSE: SWK) appointed Donald Allan, Jr. as President and CFO, effective Feb. 23, 2021. Allan, a long-term employee, will expand his role to include leading the company's strategy and operating model while overseeing various business segments. He has been pivotal in the company’s transformation to a global industrial leader, achieving revenues close to $15 billion in 2020. The CEO praised Allan's values-based leadership and impact on the company’s performance.

Positive

• Donald Allan, Jr. has extensive experience within the company, having joined in 1999 and previously held key positions.
• The appointment aims to drive strategic, long-term profitable growth.
• Allan will oversee critical areas such as Outdoor, Asia Tools & Storage, and the implementation of the company's operating model.

Negative

• None.

NEW BRITAIN, Conn., Feb. 23, 2021 /PRNewswire/ -- Stanley Black & Decker (NYSE: SWK) today announced that it has named Donald Allan, Jr., President and CFO. In this new role, Allan will continue his focus on driving strategic, long-term profitable growth for the company and take on additional responsibilities, such as the execution and advancement of the company's operating model and certain growth initiatives. He will continue to report to Stanley Black & Decker's CEO James M. Loree.

"Having worked hand-in-hand with Don for more than two decades, I know him to be a values-based, agile and inspiring leader, and this appointment recognizes the expanded responsibilities he has assumed over the last several years," said Loree. "Don has had a meaningful impact at the company and was a significant contributor to our outstanding performance in 2020. Together, with our deep bench of senior executives and teams around the globe, we have built Stanley Black & Decker into a world-class company focused on purpose, innovation and social responsibility, and we are well-positioned for the next period of growth."

In his new role, Allan will expand his responsibilities to further the company's growth trajectory, including leading the strategy and implementation of Stanley Black & Decker's operating model and oversight of Outdoor, Asia Tools & Storage and Stanley X. He will retain his existing responsibilities, including Finance, STANLEY Security, Information Technology, Margin Resiliency, Industry 4.0 and Advanced Analytics, as well as shared oversight of Global Operations and Supply Chain.

Allan joined the company in 1999 as director of financial planning before being appointed Senior Vice President and CFO in 2008, and later Executive Vice President and CFO. He has been instrumental in driving the company's transformation strategy to a global diversified industrial with revenues approaching $15 billion in 2020. Before joining The Stanley Works, Allan held global financial management positions with Loctite Corporation, and spent nine years with Ernst & Young, predominately as part of the audit team.

Allan is Lead Director at Anderson Corporation and is Chairman of the Board for United Way of Central and Northeastern Connecticut. He also serves on the boards of several non-profits, including Junior Achievement of Southwest New England, Boy Scouts Connecticut Rivers Council, The University of Hartford's Barney School of Business and Hartford Stage. Allan earned his bachelor's in accounting from the University of Hartford and is a CPA.

About Stanley Black & Decker
Stanley Black & Decker is a purpose-driven, $14.5 billion revenue industrial organization. Stanley Black & Decker has 53,000 employees in more than 60 countries and operates the world's largest tools and storage business, the world's second-largest commercial electronic security services company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include BLACK+DECKER, Bostitch, CRAFTSMAN, DEWALT, FACOM, IRWIN, LENOX, Porter Cable and STANLEY. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place. Learn more at www.stanleyblackanddecker.com.

Media Contacts:
Shannon Lapierre
Chief Communications Officer
shannon.lapierre@sbdinc.com
860-259-7669

Debora Raymond
Vice President, Public Relations
debora.raymond@sbdinc.com 

Investor Relations Contacts:
Dennis Lange
Vice President, Investor Relations
dennis.lange@sbdinc.com
860-827-3833

Cort Kaufman
Director, Investor Relations
cort.kaufman@sbdinc.com
860-515-2741

 

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SOURCE Stanley Black & Decker

FAQ

Who is the new President and CFO of Stanley Black & Decker?

Donald Allan, Jr. has been appointed as the new President and CFO of Stanley Black & Decker.

When was Donald Allan, Jr. appointed as CFO of Stanley Black & Decker?

Donald Allan, Jr. was appointed as CFO on February 23, 2021.

What are Donald Allan's responsibilities as President and CFO?

He will focus on strategic growth and oversee the company's operating model and various business units.

What revenue did Stanley Black & Decker achieve in 2020?

Stanley Black & Decker reported revenues approaching $15 billion in 2020.