Stanley Black & Decker Announces Executive Changes

TL;DR

SBD shakes up ops leadership, Allan departs strategy role.

AI Summary

Stanley Black & Decker, Inc. announced on April 11, 2024, the appointment of Michael J. Scharfenberger as Senior Vice President, Global Operations, effective April 15, 2024. Additionally, the company announced the departure of Donald Allan, Jr. from his role as Senior Vice President, Corporate Development and Strategy, effective April 11, 2024. The company also disclosed compensatory arrangements for certain officers.

Why It Matters

Changes in key operational and strategic leadership roles can impact a company's future direction and execution, potentially affecting investor confidence and operational efficiency.

Risk Assessment

Risk Level: medium — Executive changes, especially in operational and strategic roles, can signal internal shifts or challenges that may affect future performance.

Key Players & Entities

• Stanley Black & Decker, Inc. (company) — Registrant
• Michael J. Scharfenberger (person) — Appointed Senior Vice President, Global Operations
• Donald Allan, Jr. (person) — Departed Senior Vice President, Corporate Development and Strategy
• April 11, 2024 (date) — Effective date of Allan's departure and report date
• April 15, 2024 (date) — Effective date of Scharfenberger's appointment

FAQ

From the Filing

0001193125-24-094697.txt : 20240412 0001193125-24-094697.hdr.sgml : 20240412 20240412161654 ACCESSION NUMBER: 0001193125-24-094697 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 14 CONFORMED PERIOD OF REPORT: 20240411 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240412 DATE AS OF CHANGE: 20240412 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STANLEY BLACK & DECKER, INC. CENTRAL INDEX KEY: 0000093556 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 060548860 STATE OF INCORPORATION: CT FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05224 FILM NUMBER: 24841700 BUSINESS ADDRESS: STREET 1: 1000 STANLEY DR STREET 2: P O BOX 7000 CITY: NEW BRITAIN STATE: CT ZIP: 06053 BUSINESS PHONE: 8602255111 MAIL ADDRESS: STREET 1: 1000 STANLEY DR CITY: NEW BRITAIN STATE: CT ZIP: 06053 FORMER COMPANY: FORMER CONFORMED NAME: STANLEY WORKS DATE OF NAME CHANGE: 19920703 8-K 1 d805637d8k.htm 8-K 8-K false 0000093556 0000093556 2024-04-11 2024-04-11       UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): April 11, 2024     Stanley Black & Decker, Inc. (Exact Name of Registrant as Specified in its Charter)       Connecticut   001-05224   06-0548860 (State or other jurisdiction of incorporation)   (Commission File Number)   (I.R.S. Employer Identification No.)   1000 Stanley Drive   New Britain , Connecticut   06053 (Address of principal executive offices)   (Zip Code) Registrant’s telephone number, including area code: (860) 225-5111 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 on which registered Common Stock - $2.50 Par Value per Share   SWK   New York Stock 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 April 11, 2024, Irving Tan informed the board of directors (the “Board”) of Stanley Black & Decker, Inc. (the “Company”) of his decision not to stand for re-election as a director of the Company at the Company’s 2024 annual meeting of sharehold