CLEVELAND, Nov. 14,
2024 /PRNewswire/ -- The Sherwin-Williams
Company (NYSE: SHW) announced today that John G. Morikis will retire from his position as
Executive Chairman effective as of the close of business on
December 31, 2024, following a
40-year career with the Company. Mr. Morikis will remain a member
of the Sherwin-Williams Board of Directors until his retirement
from the Board at the end of his current term at the 2025 Annual
Meeting of Shareholders in April
2025. The Board has elected Heidi G.
Petz to assume the additional role of Chair of the Board
effective January 1, 2025. Ms. Petz
has served as Sherwin-Williams
President and Chief Executive Officer since January 1, 2024.
"My deep and sincere thanks go to John for his exceptional
leadership, dedication and vision over his distinguished career
with Sherwin-Williams," commented Ms. Petz. "John's passion for
driving the success of our customers and our employees resulted in
strong and sustained performance by our Company throughout his
tenure. He leaves us with a tremendous foundation upon which we can
continue to build profitable growth for years to come. We wish him
all the best in his well-deserved retirement."
Ms. Petz joined Sherwin-Williams with the acquisition of The
Valspar Corporation in 2017. Since joining the Company, she has
held positions of increasing responsibility, including President of
the Consumer Brands Group, President of The Americas Group and,
prior to her current role, President and Chief Operating Officer.
Prior to joining Sherwin-Williams and Valspar, Ms. Petz held
various leadership roles with Newell
Rubbermaid, Target Corporation and
PricewaterhouseCoopers.
"This announcement is the result of a defined and thoughtful
leadership transition process for the Company and the Board," said
Jeff M. Fettig, Sherwin-Williams
Lead Director. "The Board believes this leadership structure, with
Heidi serving as both CEO and Chair, is the most efficient and
effective model for the Company as it provides unified leadership
and focus. Heidi's broad business experience, including her
successful career in various key corporate and business unit
leadership positions with the Company, makes her well suited for
this role.
On behalf of the Board of Directors, our shareholders,
customers, employees and other stakeholders, I thank John for his
four decades of extraordinary service to Sherwin-Williams. His
decisive leadership and strategic direction drove consistently
strong results for the Company. John leaves us positioned
exceedingly well for the future, and we wish him a happy and
healthy retirement."
About The Sherwin-Williams Company
Founded in 1866,
The Sherwin-Williams Company is a global leader in the manufacture,
development, distribution, and sale of paint, coatings and related
products to professional, industrial, commercial, and retail
customers. The Company manufactures products under well-known
brands such as Sherwin-Williams®, Valspar®,
HGTV HOME® by Sherwin-Williams, Dutch
Boy®, Krylon®, Minwax®,
Thompson's® WaterSeal®,
Cabot® and many more. With global headquarters in
Cleveland, Ohio,
Sherwin-Williams® branded products are sold
exclusively through a chain of more than 5,000 Company-operated
stores and branches, while the Company's other brands are sold
through leading mass merchandisers, home centers, independent paint
dealers, hardware stores, automotive retailers, and industrial
distributors. The Sherwin-Williams Performance Coatings Group
supplies a broad range of highly-engineered solutions for the
construction, industrial, packaging and transportation markets in
more than 120 countries around the world. Sherwin-Williams shares
are traded on the New York Stock Exchange (symbol: SHW). For more
information, visit www.sherwin.com.
INVESTOR RELATIONS CONTACTS:
Jim
Jaye
Senior Vice President, Investor Relations & Corporate
Communications
Direct: 216.515.8682
investor.relations@sherwin.com
Eric Swanson
Vice President, Investor Relations
Direct:
216.566.2766
investor.relations@sherwin.com
MEDIA CONTACT:
Julie
Young
Vice President, Global Corporate Communications
Direct: 216.515.8849
corporatemedia@sherwin.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sherwin-williams-executive-chairman-john-morikis-to-retire-president-and-ceo-heidi-petz-elected-chair-302305872.html
SOURCE The Sherwin-Williams Company
