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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): October 21, 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 |
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 October 21, 2024, the Board of Directors (the “Board”) of Stanley Black & Decker, Inc. (the “Company”) elected John L. Garrison, Jr. as a director of the Company. Mr. Garrison will serve as a member of the Board’s Corporate Governance Committee and Compensation and Talent Development Committee. Mr. Garrison will participate in the compensation program for non-employee directors as described under the heading “Director Compensation” in the Company’s definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on March 8, 2024.
A copy of the Company’s press release announcing the election of Mr. Garrison to the Board is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits:
| Exhibit No. |
Description | |
| 99.1 | Press Release dated October 22, 2024. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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. | ||||||
| Date: October 22, 2024 | ||||||
| By: | /s/ Janet M. Link |
|||||
| Name: | Janet M. Link | |||||
| Title: | Senior Vice President, General Counsel and Secretary | |||||
Exhibit 99.1
John L. Garrison, Jr. Elected to Stanley Black & Decker Board of Directors
NEW BRITAIN, Conn., Oct. 22, 2024 – Stanley Black & Decker (NYSE: SWK) today announced that John L. Garrison, Jr, former Chairman, President, and Chief Executive Officer of Terex Corporation has been elected to the company’s Board of Directors.
Garrison has more than 30 years of experience successfully executing multi-level transformations in various industries.
“John is a highly accomplished executive with extensive experience leading large-scale and complex global operations,” said Andrea J. Ayers, Stanley Black & Decker Chair. “John’s track record of developing and implementing financial and human capital strategies and transforming processes to drive business outcomes and operational excellence makes him a great addition to the Board as the Company intensifies its focus on accelerating organic growth with margin expansion to drive long-term shareholder returns.”
Garrison, most recently, served as President and Chief Executive Officer of Terex Corporation, a global manufacturer of materials processing machinery and aerial work platforms, a position he held from 2015 until his retirement in 2024. In addition, Garrison served as Chairman of the Board of Terex from August 2018 until his retirement in 2024.
Prior to joining Terex, Garrison was President and CEO of Bell Helicopter, a Textron company. He previously held senior leadership roles at E-Z-GO, a Textron company, Azurix Corporation and Case Corporation. He also served 10 years on active duty in the U.S. Army as an Airborne Ranger qualified Artillery Officer and taught in the Department of Social Sciences at the United States Military Academy at West Point.
Garrison served as the past President and Chairman of American Helicopter Society’s International and Chairman of Vertical Flight Foundation, a board member for the General Aviation Manufacturers Association (GAMA), and as a Cabinet member of the Marine Corps Scholarship Foundation’s American Patriots Campaign.
He currently serves on the Flowserve Corporation Board, a position he has held since 2018. On the Flowserve Board, he serves as Chair of the Organization and Compensation Committee and as a member of Corporate Governance and Nominating Committee.
Garrison received a bachelor’s degree in engineering from the United States Military Academy at West Point and a master’s degree in business administration from Harvard University.
About Stanley Black & Decker
Founded in 1843 and headquartered in the USA, Stanley Black & Decker (NYSE: SWK) is a worldwide leader in Tools and Outdoor, operating manufacturing facilities globally. The Company’s approximately 50,000 employees produce innovative end-user inspired power tools, hand tools, storage, digital jobsite solutions, outdoor and lifestyle products, and engineered fasteners to support the world’s builders, tradespeople and DIYers. The Company’s world class portfolio of trusted brands includes DEWALT®, CRAFTSMAN®, STANLEY®, BLACK+DECKER®, and Cub Cadet®. To learn more visit: www.stanleyblackanddecker.com or follow Stanley Black & Decker on Facebook, Instagram, LinkedIn and X.
Media Contact:
Debora Raymond
Vice President, Public Relations
debora.raymond@sbdinc.com
203-640-8054