Stanley Black & Decker taps COO Christopher Nelson as next CEO

Power tools maker Stanley Black & Decker SWK has appointed operations chief Christopher Nelson as its next CEO and President, effective from October 1, it said on Monday.

Nelson, who also heads the company's $13 billion tools and outdoor division, will succeed Donald Allan Jr., who served as CEO since July 2022.

Allan Jr. will become executive chair after the transition before retiring in October 2026, the company said.

Nelson joined the tool maker in June 2023 as its COO prior to which he was president of Carrier Global's heating, ventilation, and air conditioning segment. He holds a master's degree in business from Cornell University.

Stanley Black & Decker also said it still expects second-quarter earnings per share to exceed the assumptions outlined in its first quarter earnings call.