UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
(Exact Name of Registrant as Specified in its Charter)
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| |
||
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number including area code:
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
Trading Symbol(s) |
Name of each exchange | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 23, 2021, Stanley Black & Decker, Inc. (the “Company”) announced that Donald Allan, Jr. had assumed the title of President and Chief Financial Officer. Prior to this new role, Mr. Allan had served as the Company’s Executive Vice President and Chief Financial Officer since October 2016. In connection with this new role, Mr. Allan will receive an increase of approximately $500,000 in annual equity awards, in addition to a customary merit increase in his total target cash compensation. James M. Loree will continue to serve as the Company’s Chief Executive Officer. A copy of the press release containing the announcement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits:
| Exhibit Number |
Description | |
| 99.1 | Press release dated February 23, 2021, issued by Stanley Black & Decker, Inc. | |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL) | |
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Stanley Black & Decker, Inc. | ||
| By: | /s/ Janet M. Link | |
| Name: | Janet M. Link | |
| Title: | Senior Vice President, General Counsel and Secretary | |
Dated: February 23, 2021
Exhibit 99.1
Press Release
Stanley Black & Decker Names Don Allan President and CFO
NEW BRITAIN, Conn., Feb. 23, 2021 – 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.
|
| ||
| Press Release |
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