Stanley Black & Decker Announces Chairman And Executive Management Changes

  Stanley Black & Decker Announces Chairman And Executive Management Changes

Business Wire

NEW BRITAIN, Conn. -- January 14, 2013

As the 2010 merger of The Stanley Works and Black & Decker approaches its
third anniversary and the integration of the two companies nears completion,
the Board of Directors of Stanley Black & Decker (NYSE:SWK) announced that
John F. Lundgren, Chief Executive Officer, has been elected to serve in the
additional capacity as Chairman of the Board of the Company, effective March
13, 2013, following the expiration of Nolan D. Archibald’s term as Executive
Chairman of the Board.

Mr. Archibald’s Employment Agreement with the Company expires on March 12,
2013,at which time Mr. Archibald will retire as Executive Chairman of the
Board and as an executive of the Company. Mr. Archibald will not stand for
reelection as a Director of the Company at its April 16, 2013Annual Meeting
of Shareholders. Mr. Lundgren commented, “Nolan Archibald’s role in
establishing the combined organization while guiding and supporting the
management team as it drove $500 million in synergy achievement versus an
original target of $350 million has been invaluable. Black & Decker
shareholders prior to the merger have realized more than a 100% increase in
their investment in less than 3 years despite the challenging macro economic
conditions. In addition to the many achievements and milestones over his 27
year tenure with the company, Nolan’s legacy will include the creation of the
world’s largest, and arguably strongest and most valuable branded tools
franchise. We wish him continued success, good health and happiness as he
pursues a full schedule of family, extracurricular and other business

Separately, the Board of Directors announced that James M. Loree, formerly
Executive VP and Chief Operating Officer, has been elected to serve as
President and Chief Operating Officer, effective January 13, 2013. Further,
Mark J. Mathieu, Senior VP, Human Resources will retire on March 31, 2013, at
which time Mr. Mathieu will be succeeded by Joseph R. Voelker, currently VP
Human Resources. Mr. Loree and Mr. Voelker will report to Mr. Lundgren. “Jim
Loree has been a highly respected and critical member of the senior management
team since joining the Company in 1999 as CFO. He was among the earliest and
most influential architects of the company’s portfolio transition strategy in
place since 2004 and his subsequent expanded roles are demonstrative of his
numerous broad based accomplishments during his 13 year tenure.” Mr. Lundgren
continued, “It is difficult if not impossible to quantify Mark
Mathieu’spositive impact on both our performance and our culture since he
joined the company in 1997. We are fortunate to have an experienced and highly
capable internal successor such as Joe Voelker who was identified and
developed through the performance management and succession planning processes
that Mark established and implemented over the past 15 years. Mark’s wisdom,
objectivity, guidance and candor will nonetheless be truly missed.”

The Company will report its fourth quarter and full year 2012 results on
January 24^th, 2013. As communicated in a release on December 17th, the
Company’s fourth quarter and full year guidance for continuing operations,
excluding M&A charges, remains unchanged at $1.28 for the fourth quarter and
$4.60 for the full year 2012. This excludes the results of the divested HHI
business; an 8K was filed with the recasted financials for 2011 and the first
three quarters of 2012 on Monday, January 7^th.

Stanley Black & Decker, an S&P 500 company, is a diversified global provider
of hand tools, power tools and related accessories, mechanical access
solutions and electronic security solutions, engineered fastening systems,
healthcare solutions, infrastructure solutions and more. Learn more at

Cautionary Note Regarding Forward-Looking Statements

Statements in this press release regarding Stanley Black & Decker, Inc.’s
business which are not historical facts are “forward-looking statements” that
involve risks and uncertainties which could cause actual results to differ
from those contained in the forward-looking statements. For a discussion of
risks and uncertainties, see “Risk Factors” in the Company’s Annual Report on
Form 10-K and any material changes set forth in any subsequent Quarterly
Reports on Form 10-Q or those contained in the Company’s other filings with
the Securities and Exchange Commission. The Company makes no commitment to
update any forward-looking statements to reflect events or circumstances
occurring or existing after the date of any forward-looking statement.


Stanley Black & Decker
Kate White Vanek, 860-827-3833
Vice President, Investor & Government Relations
Tim Perra, 860-826-3260
Director, Global Communications, Stanley Black & Decker
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