Stanley Black & Decker CEO Donald Allan to switch to chairman role

Stanley Black & Decker announced that its board of directors has named Christopher Nelson as the company’s next president and CEO, effective October 1. Nelson currently serves as Stanley Black & Decker’s COO and executive VP and president of the tools and outdoor business. He will succeed Donald Allan, who has served as CEO since July 2022. Nelson will join the board of directors upon assuming the CEO role. Allan will become executive chair of the board, and Andrea Ayers, current chair of the board, will become lead independent director and continue to chair the executive committee. Allan is expected to retire on October 1, 2026, at which time the board intends to revert to a governance structure of independent board chair.