Stanley Black & Decker Forges New Leadership for Future Growth

NEW BRITAIN, Conn. – January 26, 2026 – Stanley Black & Decker (NYSE: SWK) today unveiled a significant, forward-looking evolution of its Board of Directors, signaling a strategic shift in leadership designed to navigate its ongoing transformation and secure future growth. The company announced that independent director Debra Crew will become Chair of the Board in 2026 and has appointed supply chain veteran Shane M. O’Kelly to the board, effective immediately.

The moves represent a meticulously planned succession and a reinforcement of the board's expertise as the iconic tool and outdoor solutions company continues to reshape its operations in a dynamic global market.

A Deliberate and Strategic Succession

The centerpiece of the announcement is the planned leadership transition at the top. Effective October 1, 2026, Debra Crew will assume the role of Chair of the Board, succeeding Donald Allan, Jr., who will retire as Executive Chair. This transition aligns with the company's previously stated goal of returning to a non-executive Chair structure, a move widely seen as a best practice in corporate governance to enhance board independence and oversight.

To ensure a smooth handover, Crew will immediately step into the role of Lead Independent Director. She succeeds Andrea Ayers, who is set to retire from the board in April after more than 11 years of service. Allan acknowledged her contributions, stating, "I would like to thank Andrea for being a valued partner to me during my time as CEO of the Company and her exemplary leadership and significant contributions throughout her tenure, particularly during her time as Chair leading the Board through the transformation of Stanley Black & Decker."

The deliberate, long-term nature of this succession plan underscores a commitment to stability and strategic foresight, allowing the company to prepare for a new chapter without the disruption of an abrupt change.

Fortifying the Board with Diverse Expertise

The appointments of Crew and O'Kelly bring a potent combination of consumer brand prowess and operational discipline to the boardroom. Both new leaders also share a background of service as officers in the U.S. Army.

Debra Crew, a director since 2013, brings a wealth of experience from the highest echelons of global consumer goods companies. Her most recent role as CEO of Diageo plc from June 2023 to July 2025 saw her navigate a challenging market by initiating significant cultural change programs and a multi-year cost-reduction plan. Her extensive career also includes senior leadership positions at PepsiCo, Kraft Foods, Nestlé S.A., and Mars, Inc., giving her deep insights into brand activation, global marketing, and strategic growth.

"Debra's leadership and profound industry expertise have been instrumental to Stanley Black & Decker," said Allan. "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."

Joining the board is Shane M. O’Kelly, the current President and CEO of Advance Auto Parts. O’Kelly is a seasoned executive known for his expertise in driving operational turnarounds and managing complex supply chains. Since taking the helm at Advance Auto Parts in September 2023, he has initiated a major reorganization focused on cost savings and strategic realignment. His prior success as CEO of HD Supply, a subsidiary of The Home Depot, where he delivered record sales and profit, highlights his ability to enhance operational execution.

"Shane's exceptional expertise in customer-focused strategy and operational excellence will significantly enhance the strength and effectiveness of our Board," Allan remarked. "We are confident that his leadership and vision will play a pivotal role as we drive forward our strategic priorities."

Leadership for an Ongoing Transformation

These leadership changes are not happening in a vacuum. Stanley Black & Decker is in the midst of a multi-year transformation aimed at streamlining operations, improving profitability, and focusing on its core high-performing brands like DEWALT®, CRAFTSMAN®, and STANLEY®.

The company has shown progress, reporting an adjusted gross margin of 31.6% in the third quarter of 2025 and making headway on a global cost reduction program. However, the path forward requires sustained focus. The company's long-term goals beyond 2027 include achieving mid-single-digit organic revenue growth and a more robust adjusted gross margin of over 35%.

The new board appointments appear tailor-made to address these strategic imperatives. Crew’s background in building and marketing global consumer brands is critical for a company seeking to "activate its brands with purpose." Meanwhile, O’Kelly’s proven track record in logistics, distribution, and cost management directly supports the core goal of driving "operational excellence" across a complex global supply chain. Their combined experience will be crucial as the company continues to invest in growth initiatives and portfolio simplification.

Aligning with Governance Best Practices

Stanley Black & Decker's board refresh aligns with broader trends in corporate governance, where investors and stakeholders are increasingly demanding greater board independence, specialized expertise, and clear succession planning. The move to separate the Chair and CEO roles is a significant step that brings the company in line with many of its industry peers, such as Makita and Techtronic Industries (TTI), which also emphasize independent board leadership.

In an era marked by geopolitical uncertainty, supply chain volatility, and rapid technological change, having a board with diverse and relevant experience is paramount. The addition of leaders with deep knowledge in consumer markets and logistics provides Stanley Black & Decker with the strategic oversight needed to navigate these challenges. By proactively planning for leadership succession and fortifying its board with proven operators, the company is positioning itself not just for the challenges of today, but for the opportunities of tomorrow.