Stanley Black & Decker welcomes a new chairman
Stanley Black & Decker will be getting a new chairman in 2017.
George Buckley, current lead independent director, will become chairman effective Jan. 1, 2017.
He will succeed John Lundgren, who retired as CEO in July after more than 12 years with the company, and has been serving as chairman until year-end. Lundgren will serve as a special adviser to the company through April 30, 2017.
Stanley Black & Decker will be getting a new chairman in 2017.
George Buckley, current lead independent director, will become chairman effective Jan. 1, 2017.
He will succeed John Lundgren, who retired as CEO in July after more than 12 years with the company, and has been serving as chairman until year-end. Lundgren will serve as a special adviser to the company through April 30, 2017.
Buckley has been with the board since March 2010 after previously serving as a director of Black & Decker since 2006. He has been Stanley Black & Decker's lead independent director since April 2015. He is a member of the Audit Committee, the Compensation and Organization Committee and the Executive Committee.
Buckley was also the chairman, president and CEO of 3M Company from 2005 through 2012. Prior to leading 3M, Buckley was chairman and CEO of Brunswick Corporation. He also currently serves as chairman of Smiths Group plc, a director of Hitachi Ltd., and a director of PepsiCo.
Buckley actually began his career as an electrician apprentice in Stanley Black & Decker's Sheffield, UK plant, and the company also sponsored his undergraduate degree program. His mother also worked at the same plant for close to 30 years, and his sister worked for the company for approximately a decade.
"George's depth of experience leading multi-national industrial companies, along with his governance expertise and tenure on Stanley Black & Decker's Board, make him a perfect fit to become chairman," Lundgren said. "On the heels of Jim Loree's smooth transition to CEO this past summer, I know George, Jim and the remainder of the board will continue to work closely and productively with the executive management team to create long-term value for shareholders as Stanley Black & Decker builds on its foundation as an innovative and high-performing industrial company."