Stanley Works Announces Executive Management Changes
JIM LOREE TO BECOME COO, DON ALLAN TO BECOME CFO
James M. Loree, Executive Vice President and Chief Financial Officer, has been elected to serve as Executive Vice President and Chief Operating Officer. Mr. Loree joined Stanley from the General Electric Company in 1999 and has held a number of senior finance and business leadership positions during his career.
Donald Allan, Jr., Vice President and Controller, has been elected to serve as Vice President and Chief Financial Officer. Mr. Allan joined Stanley in 1999 as Director of Financial Reporting and was named Corporate Controller in 2000 and a Corporate Vice President in 2002. Prior to joining Stanley he held financial management positions with Loctite Corporation and Ernst & Young LLP.
Mr. Lundgren continued, “Don Allan’s technical skills, business acumen, proven leadership and objectivity make him an ideal choice to succeed Jim. Don has been a tremendous asset to our finance organization and Jim and I have come to rely on him for his judgment and thoughtfulness on important issues facing Stanley.”
In addition to the promotions noted above,
Mr. Lundgren stated, “Don McIlnay has been an outstanding business leader for our company since he joined Stanley in 1999. As a demonstration of his exceptional service to the company, Don postponed an earlier planned retirement to play a major role in our growth initiatives. He will be missed as a friend and trusted colleague but the increased time with family and friends and reduced global travel burden is well deserved.”
Additional Information About The Stanley Works
The Stanley Works, an S&P 500 company with 2007 revenues of
The Stanley Works corporate press releases are available in the Investor Relations section of the company’s Internet web site at www.stanleyworks.com.
SOURCE The Stanley Works