This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stanley Black & Decker Announces Chairman And Executive Management Changes

Stocks in this article: SWK

As the 2010 merger of The Stanley Works and Black & Decker approaches its third anniversary and the integration of the two companies nears completion, the Board of Directors of Stanley Black & Decker (NYSE:SWK) announced that John F. Lundgren, Chief Executive Officer, has been elected to serve in the additional capacity as Chairman of the Board of the Company, effective March 13, 2013, following the expiration of Nolan D. Archibald’s term as Executive Chairman of the Board.

Mr. Archibald’s Employment Agreement with the Company expires on March 12, 2013, at which time Mr. Archibald will retire as Executive Chairman of the Board and as an executive of the Company. Mr. Archibald will not stand for reelection as a Director of the Company at its April 16, 2013 Annual Meeting of Shareholders. Mr. Lundgren commented, “Nolan Archibald’s role in establishing the combined organization while guiding and supporting the management team as it drove $500 million in synergy achievement versus an original target of $350 million has been invaluable. Black & Decker shareholders prior to the merger have realized more than a 100% increase in their investment in less than 3 years despite the challenging macro economic conditions. In addition to the many achievements and milestones over his 27 year tenure with the company, Nolan’s legacy will include the creation of the world’s largest, and arguably strongest and most valuable branded tools franchise. We wish him continued success, good health and happiness as he pursues a full schedule of family, extracurricular and other business activities.”

Separately, the Board of Directors announced that James M. Loree, formerly Executive VP and Chief Operating Officer, has been elected to serve as President and Chief Operating Officer, effective January 13, 2013. Further, Mark J. Mathieu, Senior VP, Human Resources will retire on March 31, 2013, at which time Mr. Mathieu will be succeeded by Joseph R. Voelker, currently VP Human Resources. Mr. Loree and Mr. Voelker will report to Mr. Lundgren. “Jim Loree has been a highly respected and critical member of the senior management team since joining the Company in 1999 as CFO. He was among the earliest and most influential architects of the company’s portfolio transition strategy in place since 2004 and his subsequent expanded roles are demonstrative of his numerous broad based accomplishments during his 13 year tenure.” Mr. Lundgren continued, “It is difficult if not impossible to quantify Mark Mathieu’s positive impact on both our performance and our culture since he joined the company in 1997. We are fortunate to have an experienced and highly capable internal successor such as Joe Voelker who was identified and developed through the performance management and succession planning processes that Mark established and implemented over the past 15 years. Mark’s wisdom, objectivity, guidance and candor will nonetheless be truly missed.”

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,600.25 +243.38 1.40%
S&P 500 2,041.01 +28.12 1.40%
NASDAQ 4,713.1480 +68.8360 1.48%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs