Here’s Stanley’s new board member

Stanley Black & Decker has elected Jim Scholefield, 55, VP and global CIO of Nike, to the company's board of directors. Scholefield brings the company's total number of directors to 11, including 10 independent directors.

"Stanley Black & Decker is focused on accelerating its innovation efforts to enhance its track record of delivering top-quartile financial performance while operating in a highly sustainable manner," said George W. Buckley, Stanley Black & Decker's chairman of the board. "Jim's expertise in this digitization and technology space spans both consumer products and automotive industries, as well as organizations with strong brands. He will be of tremendous value to the company, and we couldn't be more pleased to have Jim as part of our board."

At Nike, Scholefield leads the company's enterprise technology strategy, delivering innovative solutions to support the company's business growth, the company said.

Prior to joining Nike in 2015, Scholefield was chief technology officer at The Coca-Cola Company, responsible for the organization's IT strategy, tech operations and technology engineering. He also held IT leadership roles at Northern Trust, Ford Motor Company and Procter & Gamble. Scholefield earned a Bachelor's from Florida State University and a Master's from the Georgia Institute of Technology.

"Technology continues to move at a rapid pace, causing massive disruption across businesses and industries," said Scholefield. "Stanley Black & Decker is a company that recognizes that change is coming and is committed to keeping the pace with innovation and business model evolutions to stay ahead of the curve. It's an organization with strong brands, a rich history and an exciting future. I look forward to being part of the Board."