Stanley Works names new executives

The tool maker Stanley Works has promoted James Loree to chief operating officer from chief financial officer as of Jan. 1, the New Britain, Conn.-based company announced. Donald Allan Jr., the company’s controller, will be promoted to replace Loree as CFO.

Loree joined Stanley Works in 1999 from General Electric Co. Allan also came to the company in 1999 to serve as director of financial reporting after holding financial management positions at Loctite Corp. and Ernst & Young LLP.

The company also said Dec. 17 that Donald J. McIlnay, president of the industrial tools and emerging markets groups, has decided to retire at the end of 2008.