Stanley Black & Decker on Monday named a successor to its chairman, who will retire later this year.
Debra Crew, the former CEO of spirits giant Diageo and a board member at Stanley B&D since 2013, will succeed Donald Allan effective Oct. 1. Allan stepped down as the company’s CEO last fall but said he would remain chair for another year.
"Debra's leadership and profound industry expertise have been instrumental to Stanley Black & Decker," Allan said in a statement. "Her extensive background in marketing, operations, and strategic leadership — paired with her global perspective — provides the Board with critical insights that drive innovation and support sustained growth."
Crew was also named the tool maker’s lead independent director effectively immediately, replacing Andrea Ayers, who will retire from the board entirely at the company’s shareholders meeting in April. Advance Auto Parts President and CEO Shane O'Kelly, a former CEO of HD Supply, PetroChoice Holdings and A.H. Harris & Sons, has been also appointed to the board.
