Newsletter Q3_Digital

HEADLINES
The Stanley Black & Decker Quarterly Newsletter Quarter No. 3 2016
JIM LOREE APPOINTED
PRESIDENT & CEO
This July, John Lundgren announced his retirement as CEO after more
than 12 exceptional years with the Company. “John has been an
outstanding mentor and friend, and I am honored to succeed him as
CEO at such an exciting time in our Company’s history." - Jim Loree.

TABLE
OF
CONTENTS
SFS 2.0: Breakthrough Innovation in Action
SFS 2.0: Digital Excellence Delivers
2nd Quarter Results
John Lundgren: A Remarkable Tenure
1
3
5
5
Jim Loree Named President & CEO
6
A Letter from John Lundgren
7
A Letter from Jim Loree
9
Apply to Win the Second William Hart Award!
11
RE*UP – Stanley Black & Decker’s First Veterans
Affinity Group
12
Meet Doug Redpath, President of Stanley Hydraulics
13
Global Tools & Storage Summer Intern
Program Highlights
15
CEO Answers
17
Did You Know?
19

BREAKTHROUGH
INNOVATION IN
ACTION.
Power of Corded.
Freedom of Cordless.
DEWALT FLEXVOLT is a game-changing, patent-protected
battery technology platform that will revolutionize the way
work gets done on jobsites everywhere. Its proprietary cell
configuration provides users with multiple voltage outputs
from a single DEWALT battery pack – 20V, 60V and the
never-before-seen power of 120V when doubled up
(equivalent to 18V, 54V, 108V in Europe) – thus giving users
the power of corded with the freedom of cordless.
1
Not only does the battery pack automatically change voltage
when you change tools without compromising performance,
but also, this battery platform is backwards compatible with
the existing DEWALT 20V system. We are introducing “cut
the cord” power without leaving millions of our legacy 20V
DEWALT end-users behind! This year, we will launch 18 tools
and 45 accessories across North America and Europe, with
more to come over the next few years.
The SFS 2.0 Trifecta.
The launch of DEWALT FLEXVOLT represents the
combination of three SFS 2.0 elements: Breakthrough
Innovation, Commercial Excellence, and Digital Excellence.
The DEWALT FLEXVOLT platform encompasses innovation
breakthroughs that truly represent world-class collaboration
between our core innovation groups – notably the Products
Group (PPG) and the breakthrough innovation teams. The
technology behind this product is one of the largest patent
filings in Stanley Black & Decker history at about 500 pages.
Further, the teams are launching this platform with the most
digitally enabled and commercially comprehensive marketing
campaign in our history. Over the past six months, DEWALT
has brought in over 550 global customers representing
nearly half of GTS’s global business to see the new DEWALT
FLEXVOLT platform and experience the power firsthand.

CONGRATULATIONS
AND THANK YOU!
A truly remarkable product launch would not
have been possible without the hardworking,
committed team behind it. Thank you and
congratulations to these employees!
• ANZ Marketing Team
• BENELUX Marketing Team
• Brand Marketing Teams
• CEE Marketing Team
• Commercial CFM team
• Communications
• Customer Fulfillment Support (CFS) Team
• Customer Service Team
• Digital Experience Team
• EANZ Accessories Product Marketing Team
• EANZ Brand Marketing Team
• EANZ DEWALT Product Marketing Team
• EANZ Finance
• EANZ Human Resources
• EANZ Training Team
• eCommerce CFM team
• France Marketing Team
• GALP Marketing Team
• Graphic Design & Packaging
• Home Depot CFM team
• Home Depot Channel Team, Sales Team and
Field Team
• Iberia Marketing Team
• Industrial Design
• Italy/Southern Europe Marketing Team
• Legal
• NA Channel Marketing
• NA Commercial Finance
• NA Event Marketing Team
• NA Human Resources
• NA National Account Team
• NA Product Service Division
• NA Retail Finance
• NA Sales and Field Marketing Team
• NORDIC Marketing Team
• Operations Finance
• PPG Engineering (Platform & Tools Teams)
• PPG Finance
• PPG Product Marketing
• Public Relations
• SBDU and Power Train Team
• SBU Human Resources
• Special Forces
• Supply Planning Team
• Suzhou Manufacturing – Battery Team
• Testing, Compliance & Reliability
• UK & ROI Marketing Team
• Usti Manufacturing
2

DIGITAL
EXCELLENCE
DELIVERS.
Do it yourself. Do it wise.
This home improvement mobile app empowers DIYers to
tackle do-it-yourself projects the “wise” way. The app is
home to a library of DIY projects including electrical, exterior,
lawn and garden, paint plumbing, walls and flooring, and
windows and doors.
The app allows you to search for home projects and watch
step-by-step instructions as well as how-to videos. Plus, it will
give you a complete tool and materials list. You can easily
choose what you need, order online, and have everything
delivered to your door. If you need additional help, you can
request a live video chat with a pro advisor who can guide
you through the project.
The DIYZ app is available for FREE now in the US Apple Store
for iPhone and Google Play for Android.
The DIYZ app is Stanley Black & Decker’s first purely digital
product. Because many categories and industries have been
impacted by the digital revolution, the DIYZ team recognized
an opportunity to influence the home improvement category.
More than a year in development, and the first under the
DIYZ brand, the new DIYZ app is part of the greater SFS 2.0
initiative, and a joint venture between Global Tools & Storage
and the Digital Accelerator. Through a dedicated website,
email blasts, social media, and more, the team has truly
utilized a digital go-to market strategy.
AVAILABLE THROUGH
OR
3

CONGRATULATIONS AND
THANK YOU!
This digital launch was powered by a remarkable,
devoted team. Thank you and congratulations to
these employees!
• Angelica Turner
• Angie Benamati
• Anthony Cairo
• Brendan McKenna
• Brian Koster
• Brian Pertman
• Chinnette Cannida
• Chris Ireland
• Chris Merkel
• Chris Phillips
• Christina Plumb
• Dan Johnson
• David Balcom
• Earl Little
• Hamid Montazeri
• Irwin Coleman
• Jason Bourbeau
• Jason Russell
• Jennifer Gionfriddo
• Jessie Helene
• Jim O’Sullivan
• John Wyatt
• Jonathan Hart
• Jordan Thompson
• Jorge DeLaTorre
• Josh Cowley
• Justin Wingo
• Kathryn Werthman
• Kelly Stelmack
• Kevin Boutin
• Kurt Arnold
• Lee McChesney
• Matt Nestorick
• Miranda Haynes
• Mitch Osterhouse
• Muhammad Ullah
• Naomi Fort
• Nicholas Profitt
• Paul Park
• Peter DuBois
• Phil Pickering
• Rashard Longino
• Robert Coop
• Robert Ross
• Rusty Walters
• Saul Stoogenke
• Yousef Alhamad
4

REVENUES
$2.9 Billion
+2% VPY
ORGANIC GROWTH
4%
Growth in
All Regions
OPERATING MARGIN
15.8%
NEW
RECORD!
WORKING CAPITAL
8.2x
+1.2x VPY
2ND QUARTER
RESULTS.
We had a stellar second quarter – we were able to increase
our full year guidance and once again outperform external
expectations.
This performance is indicative of what we have become as
an elite industrial company. Tools & Storage continued
with its recent track record of strong organic growth
driven by exceptional commercial execution. Security’s
revenues increased versus last year as organic growth in
Europe continued. Our Industrial segment, which consists
of businesses that are dependent on manufacturing and
infrastructure markets, was down due to weakness in those
markets.
Our portfolio is strong, our operating execution is solid, and
our culture cannot be beat. We are executing across multiple
fronts as we forge ahead toward our vision of the future, and
we must continue this momentum into a strong second half
of the year.
JOHN LUNDGREN
A Remarkable Tenure
Under John Lundgren’s leadership, Stanley Black & Decker
has undergone a period of significant growth and diversification,
evolving from a small cap company focused on tools
and doors to a large cap industrial with leading franchises in
the tools & storage, security and industrial sectors.
During that time, the Company has produced compounded
annual revenue growth of 12% and generated a total
shareholder return in excess of 300%, significantly
outperforming the S&P 500.
George W. Buckley, Board of Directors Lead Director,
said, “John’s tenure at Stanley Black & Decker has been
extraordinary. With his vision and energy, John developed
and led a world-class management team which has created a
high performing, dynamic and innovative corporate culture.
On behalf of the Board and the entire Company, we thank
John for his dedication and commitment to making Stanley
Black & Decker the outstanding company it is today.”
2000
Revenue
$2B+
Market Cap
$2.7B
Employees
15K
2015
Revenue
$11B+
Market Cap
$16.4B
Employees
50K+
5

JIM LOREE NAMED
PRESIDENT & CEO
Jim Loree was named President and CEO of Stanley Black & Decker effective
August 1, 2016.
John Lundgren, who will turn 65 this September, announced his retirement as
CEO after more than 12 exceptional years with the Company. John will continue
as Chairman of the Board until the end of the year and serve as Special Advisor to
the Company through April 30, 2017.
Jim, who has spent 17+ years with Stanley Black & Decker, has been intimately
involved in every major strategic decision and initiative that we have undertaken
during his tenure here, and has championed our organic growth and operational
excellence initiatives.
“It has been a great privilege to lead this exceptional organization for the past 12
years, and I am proud of all we have accomplished together,” said John. “Today
Stanley Black & Decker is stronger, more agile and more innovative than ever
before, and that is due in large part to Jim and the entire management team. Our
future is bright and I am confident the Company will continue to thrive under Jim’s
leadership.”
“John has been an outstanding mentor and friend, and I am honored to succeed
him as CEO at such an exciting time in our Company’s history,” said Jim. “Under
John’s leadership, we built Stanley Black & Decker into a company that is both
strong and continually evolving, with a portfolio of world-class franchises and
brands. With this as our platform, we are well positioned for sustained success.”
6

A LETTER FROM
JOHN LUNDGREN
A REMARKABLE 12 YEARS
7

To All Stanley Black & Decker Associates:​
Today, after leading our iconic company for more than twelve years, and as I approach my 65th
birthday in September, I am announcing my retirement as Chief Executive Officer. Our Board has
engaged in a thoughtful, thorough and inclusive succession planning process and it is with great
pleasure that I can convey that Jim Loree will succeed me as President & CEO. I will remain as
Chairman of the Board until year-end and oversee what we envision will be a seamless transition
process.
I derive great pride and sense of accomplishment as I reflect on our many achievements as a team
since 2004. Our company’s revenues have quadrupled, our market capitalization has quintupled,
and we have generated total shareholder return in excess of 300%, far above the S&P 500 and our
peer groups. We have achieved this by working together while taking accountability for our individual
actions and striving to exceed the needs of our customers and the expectations of our investors.
We are pleased but hopefully never satisfied, and I am even more excited about what the future
holds for our great company. Our strategy is sound and SFS 2.0 as our operating edge is gaining
traction while becoming further embedded in our culture. Organic growth is robust, operating
margins are at record levels and our capital efficiency is the envy of many of our peers. Now is the
perfect time to pass the baton to a trusted colleague, a tested and proven leader with the capability
to take our company to the next level and achieve our next generation vision.
Jim is uniquely qualified to propel Stanley Black & Decker on its path forward. Over his 17-year
career with the company, he has shown exemplary leadership, sound judgment, exceptional strategic
insight, deep business acumen and proactive executional capabilities. He has been intimately
involved in every significant decision that we have made as a leadership team during my tenure, not
the least of which was the transformational merger of The Stanley Works and Black and Decker in
2009-2010. Jim and his highly capable management team will ensure that we not only maintain
our track record of success, but that we come to exemplify “performance in action” by planning
and executing to outperform.
Beyond working with Jim and our Board during our planned transitional period, I will continue my
efforts to impact public policy in Washington D.C. and around the world to establish an environment
where manufacturing companies like ours can continue to thrive and prosper.
Together we have built Stanley Black & Decker into an elite industrial powerhouse dramatically
different from the small hand tools and doors company that Stanley was at the turn of this millennium.
It has been an honor and a privilege to have been the leader of this team knowing all that
we have accomplished is due to your steadfast dedication and unwavering support.
I have said this before but have never been more confident in saying it again. “Our best days are
still ahead.” Thank you for all that you have done and continue to do every day to position Stanley
Black & Decker for further success.
With deepest gratitude,
8

A LETTER FROM
JIM LOREE
PRESIDENT & CHIEF EXECUTIVE OFFICER
9

To All Stanley Black & Decker Associates
I am honored to be chosen as our company’s next President and Chief Executive Officer, succeeding John Lundgren,
who will become Executive Chairman at that time and assist with the transition. John and I have enjoyed an incredibly
strong business partnership since he joined the company in 2004. It is no coincidence that upon his arrival, the company
began to undergo a sustained renaissance. His leadership and commitment to growth and high performance have
been key catalysts in driving the success of Stanley Black & Decker which, when evaluated against virtually any measure,
has been extraordinary. Moreover, he leaves us with strong business momentum and a rock solid foundation at a
challenging time with slowing global growth, rapidly advancing technology and increasing geopolitical volatility. John’s
impact on building our high integrity, agile winning business culture cannot be overstated. He has been a mentor and
a friend to me and our colleagues on our very strong and capable leadership team. John also executed one of the most
important yet most difficult responsibilities of a CEO, which is to build a smooth and credible long term succession plan.
I have dedicated the last 17 years of my life to serving this company, first as Chief Financial Officer for a decade and
most recently as Chief Operating Officer for over six years. I am deeply proud of what we collectively have accomplished
during that time period. From a $2 billion market cap company with a strong brand and a modest portfolio
of hand tools, hinges, hydraulic tools, entry doors and automatic doors; we have evolved into a $17 billion large cap
diversified industrial with iconic brands, the world’s largest tools and storage company, the world’s second largest commercial
security services provider and a leading provider of engineered fastening solutions. During this period we have
built a winning organization that insists upon outperforming our competitors in growth, profitability, cash flow and
asset efficiency. At the same time, we have demonstrated a commitment to grow and develop our people, provide for
their health and safety, and foster an inclusive and respectful work environment. We conduct ourselves with integrity
and sustainability at the heart of everything we do. We are bold and agile, yet thoughtful and disciplined. Most importantly,
while we are proud, we are never arrogant.
One of the great advantages of being a high performing company with a stable, long term succession plan is that
sweeping changes are not necessary or appropriate during a CEO transition. There is no need to fix something that is
working quite well. That is not to say that everything is working perfectly but in the aggregate we are performing at
a high level and we remain obsessed with raising the bar. There will be tweaks here and there and some slight rudder
adjustments in a few places but nothing major so I would encourage you to stay the course and continue your winning
ways.
One of the keys to our success in recent years is the way you have embraced and engaged in driving SFS 2.0. It is stunning
to think that we only formally introduced it to the organization 19 months ago. Yet it is hard to find an associate
that is not excited and passionate about their role in one or more of the five elements of SFS 2.0: Digital Excellence,
Breakthrough Innovation, Commercial Excellence, Functional Transformation and Core SFS. The manifestation of that
energy and excitement is becoming readily apparent across the company with everything from FLEXVOLT and DIYZ to
Security IoT to 11% organic growth in Latin America to record working capital turns. Wherever you look in this company,
examples abound of accomplishments others would consider impossible. Keep up the great work!
We have a growth vision for the next seven years which is to once again double the size of the company. We will soon
be back on the acquisition trail and come to be known as the rare acquisitive company that can achieve outstanding
organic growth at the same time. During the next few months, my senior team and I will be working on some key
themes that will become part of our broader vision. When that process is complete we will share them with all associates.
In the meantime we will be listening to customers, employees, shareholders and others as we form our vision.
You can be sure that customers, growth, outperformance and SFS 2.0 will be part of it. We will also be incorporating
an even bigger and broader commitment to social responsibility including but not limited to diversity and sustainability.
I look forward to sharing it with you at the appropriate time.
In the meantime, on everyone’s behalf, I would like to personally thank John Lundgren for his extraordinary contributions
to this company. I would also like to extend my thanks and appreciation to all of you who have worked so
diligently and dedicated yourselves to the success of this great enterprise. You are the fabric of this company and I am
humbled to be your leader as we tackle the many challenges and opportunities ahead of us.
Sincerely,
10

IN 2015, WE RECEIVED
120 NOMINATIONS
APPLY TO WIN THE
SECOND ANNUAL
WILLIAM HART
AWARD!
FROM
16 COUNTRIES
Last year, we introduced the inaugural William Hart Award,
dedicated to recognizing the commitment that our employees
make in their communities and in the world. This is a global
award, open to everyone, and offers a substantial donation
to the winners’ charity of choice. In 2015, we awarded
$50,000 in prizes, with the grand prize winning a $25,000
donation to the charity of their choice.
The William Hart Citizenship Award
William Hart was the company’s second president and its
first Chief Operating Officer. During his 65-year tenure with
the Company, Hart made numerous commitments to his
city and community, including manufacturing for soldiers
during World War I, serving as president of many charitable
organizations, and even donating his home to form the first
museum dedicated to the collection of American art.
AND FROM
EVERY BUSINESS UNIT
At Stanley Black & Decker, we are committing to carry on his
legacy via the William Hart Citizenship Award. We are proud
of our employees who show the same commitment and this
award recognizes, celebrates, and rewards our employees
for the good they do in the community.
Nominations Are Open
Giving back is part of who we are. Whether you volunteer
regularly with an organization, act as a leader through
fundraising, or actively serve on the board of a non-profit,
your contributions make an impact. Nominate yourself or
a coworker who you think best represents William Hart’s
charitable work and gives back to their community.
Nominees are asked to submit a personal statement about
their role, actions, and overall community impact. Complete
the nomination form online (eCentral > Resources >
Community) and send it in by November 1, 2016. Winners
will be announced at the end of the year.
CONGRATULATIONS
TO OUR WINNERS:
• Theresa Valentine (Corporate)
• Ashok Shinde (GEM)
• Peter Hilhorst (STANLEY Security)
• Yingfa Chen (GTS)
11

STARTING LEFT: Beth Zwierko, Jon Moles, Drew Everett, Jim Cannon, Dave Jones
RE*UP – STANLEY
BLACK & DECKER’S
FIRST VETERANS
AFFINITY GROUP.
STANLEY Security employees launched the company’s first
Veterans Affinity Group at our Noblesville, IN branch. The
RE*UP Program is led by Drew Everett, a System Integration
Consultant, has been with the company since April of 2015.
Drew, an Army veteran himself, saw the opportunity to
build a sense of community and veteran support within the
company.
RE*UP aims to ensure that veterans have what they need
to succeed at Stanley Black & Decker and progress in their
career. Members are able to network and develop with
employees from all levels of the organization. The group
stays active, hosting family friendly events every quarter.
“One of our biggest challenges is identifying interest as there
are so many unidentified veterans in our company,” says
Drew. “STANLEY Security is working to send out a Veterans
New Hire Packet to include in their onboarding process,
which would help connect employees from the start.”
Drew emphasizes that this group is not only for military
veterans, but also first responders, family of, friends of,
and all employees who feel veteran’s issues are important
to recognize and want to be involved in some way. It is
an inclusive community, open to all who are supportive of
fostering this culture.
Global Tools & Storage has also begun building momentum
in several locations to start their own Veterans Affinity Group.
If interested in getting involved with this group or leading
one for your local market, please contact
Drew.Everett@sbdinc.com
“
STANLEY Security is working to send
out a Veterans New Hire Packet to
include in their onboarding process,
which would help connect employees
from the start.
- Drew Everett
System Integration Consultant
12

Top Row: Christophe Jarrin, European Commercial Leader; Jeff Slutz, CFO; Mike Elling, Business Unit Controller; Patrick Vaillancourt,
Regional Sales Manager, Canada; Larry Nelson, VP of Sales, Americas; Bruce Redding, Regional Sales Manager, Midwest; Michael
Piwoni, Director of HR; Andy Weisbeck, Director of New Product Development
Middle Row: Georges Rodrigues, Europe Operations Manager; Jason Lin, China General Manager; Mike Kaczrowski, Plant Manager;
Peter Lemon, VP of Global Operations; Anthony Saraceno, Director of Sales; Eric Kennedy, Sr. IT Manager; Jessica Kinzler, FP&A
Manager
Bottom Row: Ian Harney, Director of Marketing; Flavia Garcia, Latin America Sales Manager; Doug Redpath, President;
Frank DeSantis, VP of Breakthrough Innovation; Scott Pugliese, Engineering Manager; John Portwood, North America Sales Manager
7

MEET
DOUG REDPATH
PRESIDENT - STANLEY HYDRAULICS
Doug Redpath was recently named President – STANLEY
Hydraulics. Hydraulics is a key element in our Infrastructure
segment providing tools and services for big jobs, like building
roads, repairing utilities, raising bridges and laying railroads.
STANLEY Hydraulic Tools has been able to transform into the
world’s largest handheld hydraulic tool manufacturer and worldwide
market leader offering over 150 handheld hydraulic tools
and over 30 mounted impact tools.
Our newest President of STANLEY Hydraulics is a world traveler and has done so
with a career solely at Stanley Black & Decker.
Doug was born in South Africa, raised in Europe, and educated in the United
States. He attended Towson State University (now Towson University) where he
studied Marketing and played Division I soccer.
In 1993, Doug started his career as an intern with Black & Decker. Since his first
role as an End User Specialist in North Carolina, Doug has progressed through jobs
in sales, licensing, channel marketing, and product development.
Within his 23 years with the Company, Doug has lived in 11 different cities, in four
states, in five countries, and on four continents. He currently resides in Baltimore,
MD with his wife Suzanne, his son Gavin, and daughter Natalie.
In his free time, Doug enjoys playing golf and soccer. In fact, he now coaches his
daughter’s soccer team as well.
“I’m extremely excited about the prospect of revolutionizing the Hydraulics
Industry. As a Company, we’re looking to disrupt the pneumatic industry with
breakthrough innovations in cordless technology,” said Doug. “I was pleasantly
surprised when I assumed this role to discover how iconic the LaBounty brand
is. These impressive attachments have been used at the front line for rescue and
clean-up when major disasters have occurred. LaBounty was one of the first calls
made to the World Trade Centers after 9/11 to help break up the concrete and
move debris. So far, I have met with an incredibly passionate team across our
locations in Two Harbors, Portland, Blois and China and I couldn’t be more excited
for the road ahead with STANLEY Hydraulics.”
14

GLOBAL TOOLS
& STORAGE
SUMMER INTERN
PROGRAM
HIGHLIGHTS
Global Tools & Storage welcomed their largest intern class this
summer. This newly expanded and redesigned program is 10
weeks long, with multiple intern locations in New Britain, CT;
Towson, MD; Allentown, PA; Dallas, TX; and Holliston, MA.
Our interns are provided with hands-on, challenging, and
valuable projects. This gives our existing teams the needed
support to execute projects while also developing young
professionals in their own career. This year, we provided a
more structured educational experience focused around
networking, practical work knowledge, and a broader
understanding of Stanley Black & Decker. A variety of
events were planned to assist with the enhancement of this
program:
Community Involvement:
• Two Habitat for Humanity build days were held this
summer. It was a great way to get the interns out
of the office and give back to the local community
while using our tools.
Networking and Team Building:
• Interns had the chance to network at a New Britain
Bees baseball game and a Baltimore Orioles game.
• They also had an All-Intern Dinner & Trivia Night to
connect and build relationships with one another
early on in the summer.
Practical Work Knowledge:
• During a “Unique You: Personality Styles at
Work” seminar, interns discovered characteristics,
strengths, and challenges of different personality
styles, explored strategies to improve style and
team dynamics, and took an assessment to
determine their own personality style.
• And the first-ever Intern Committees— social,
photography, and communications—were tasked
with engaging their fellow interns. The
15

communications team, for example, created
a daily communications schedule for posting
on Yammer. The social committee scheduled
informal get-togethers such as lunches and an
Oriole’s game. And the photography committee
documented the summer.
Company Background:
• At the Introduction to Power Tool Awareness
training, interns learned about and had the
opportunity to use the very products that make
Stanley Black & Decker a world-leader in the
industry. The interns also kept a woodworking
souvenir that they made.
• Interns were given exposure to our company’s
leadership and they learned more about future
career paths at an Executive Panel Lunch, the GTS
Business Leader Panel, and at a SLP Lunch & Learn.
Some of the highlighted Executive speakers were
Jon Michael Adinolfi, Maureen Carter, Bob Scillia,
Keith Lombardi, Chris Wooley, John Murray, John
Horky, John Cunningham, Pam Szymanski, Abigail
Gutstein, Christine Potter, Matt Cornell, Maria
Ford, Will Harman, and Kate PerryJones.
From a company perspective, this strategic workforce
planning allows us to account for a number of promising
interns that we hope to hire full-time after they graduate.
Our summer intern program is an effective recruiting tool
that builds a pipeline of young talent for our company and
brands Stanley Black & Decker as an “employer of choice”
TOWSON, MD
NEW BRITAIN, CT
73 INTERNS
23 INTERNS
33 COLLEGES
18 COLLEGES
12 FUNCTIONS
11 FUNCTIONS
16

CEO
ANSWERS
Many of you asked questions
regarding our CEO transition and our
leaders responded:
Q: Since one of our goals is to double the size of the company
in 5-7 years, what would Mr. Loree do differently as our new
CEO?
Jim Loree, President & CEO:
One of the great advantages of being a high performing
company with a stable, long term succession plan is that
sweeping changes are not necessary or appropriate during
a CEO transition. There is no need to fix something that is
working quite well. However we realize that not everything
is working perfectly and so I and my senior team will be
refining our strategy and direction over the coming months,
and we will share them with you at that time.
Q: You have mentioned getting back on the acquisition trail.
Is the plan to diversify or to increase our market share in
current businesses?
Jim Loree, President & CEO:
Both. The pipeline is very full right now for opportunities for
both. We expect to see acquisitions across the portfolio over
time. Consolidating acquisitions for the big, strong franchises
like Tools and Engineered Fastening. It’s really about merging
the organic growth and the inorganic growth activities to
stay consistent with our company strategy.
Q: Is the organization losing its appeal in Emerging Markets?
Jim Loree, President & CEO:
I would say that the exact opposite is true actually. You know
we placed some big bets in the emerging markets early when
we had the resources to do so and many of our competitors
did not. I think this is really paying off and this is evidenced
by the continued outperformance in Latin America and Asia.
Our strategy in these regions is the right one—strong commercialization
coupled with products designed and built in
market, for market—and we’re doing well even though the
regions are slowing.
17

Q: With Jim stepping into the CEO role, has there been
any discussion as to who will fill the COO role? And do you
anticipate any leadership changes across the organization?
Jim Loree, President & CEO:
There is no plan to fill the COO role at this point in time. As
John Lundgren has said, “You have now got both jobs and
therefore you are going to be even busier than you were.” I
think in our company, that role would be used for succession
planning. There may come a time when we think about
filling that role if the company becomes a little bigger and
broader and it seems appropriate at the time. But right now,
I suspect that the job will remain open for the time being.
Q: John Lundgren has been an inspiration to so many of us
here. Jim, what do you think is something that you are taking
from him while moving onto the next level?
Jim Loree, President & CEO:
Having worked for John for the past 12 years, there is a very
long list of things that I have taken from him. It is hard to pick
one out, but I will touch upon community. Our reputation
in the Hartford community is among the very best for a
corporation and it’s all because John came into this job and
he said serving the community is an important part of your
role. He encouraged each one of the senior managers of the
company to get involved.
Q: Is Security or CSS back up for sale?
Jim Loree, President & CEO:
We made an announcement a little more than a year ago
about our evaluation of this portfolio. We, frankly, really
began that evaluation in the early parts of this year, with
last year more focused on continued improvement of
the operational performance across the board and we’re
starting to see some of the fruit from that labor. And we
had a good discussion at this board meeting and we will
likely have another one in October, hopefully that will solidify
our discussion and we’ll be able to announce something
post-October.
But we’ve looked at obviously the three options we’ve
discussed previously, which is keeping the entire business,
potentially selling or spinning the entire business, or
divesting a portion of it and we specifically had mentioned
our mechanical lock business as a potential candidate for
that. So we continue to evaluate those. I would say that, it’s
getting very close to the finish line, and I would imagine in
the next 90 days to 120 days, we’ll have something very clear
to say on that.
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