JIM LOREE is President & Chief Executive Officer of Stanley Black & Decker. Loree joined the company, then Stanley Works, as CFO in 1999 when the company generated just over $2 billion in revenue. In that role, he led a massive restructuring of the business and began a re-architecting of the company’s portfolio. Since that time, he was promoted to COO, President and then CEO in 2016, as the company generated significant growth both organically and through acquisitions to stand at $13 billion in annual revenue (more than 5x growth since 1999), with more than 58,000 employees across 60 countries.
The organization operates the world’s largest tool and storage company featuring iconic brands such as BLACK+DECKER, Bostitch, CRAFTSMAN, DEWALT, FACOM, IRWIN, LENOX, PORTER-CABLE and STANLEY. Stanley Black & Decker is also the world’s second largest commercial electronic security company and operates a leading engineered fastening business that helps hold the world together. The company’s tools, solutions and services are put to work in virtually every country across the globe.
Under Jim’s CEO leadership, the company has embarked on excavating and embedding its purpose, “for those who make the worldTM” with the goal of creating a sustainable enterprise to ensure the company’s long-term success. The purpose serves as the organization’s North Star, guiding its employees in their actions and defining their values. Stanley Black & Decker is for the maker and creators, the craftsmen and the caregivers and those doing the hard work to make our world a better place. Stanley Black & Decker makes the hardest working tools, solutions and services for the world’s hardest working people.
The world is changing at an exponential pace, and Loree believes that in order for companies to be successful in this rapidly changing world, the company must disrupt itself before others do. This has led the company to its 22/22 vision with a strategy to become an organization focused on delivering societal good through its innovations and business model approach, with a heightened focus on diversity and inclusion, environmental impact and enhancing the communities where its employees live and work.
To deliver on its purpose and vision, the approach is threefold: continue delivering top-quartile performance, become known as one of the world’s leading innovators, and elevate its commitment to corporate social responsibility.
During his tenure as CEO, the company has been recognized in a number of notable lists, including Forbes’ America’s Best Employers for Diversity, Barron’s 100 Most Sustainable Companies, Fortune’s Most Admired Companies, Dow Jones Sustainability Index (seventh consecutive year) and Mogul’s Top 100 Innovators in Diversity & Inclusion and Top 100 for Millennial Women.
Prior to Stanley Black & Decker, Loree held a successful 19-year career with GE, spanning a multitude of assignments and industries. He joined GE in 1980 as part of the Financial Management training program then joined the GE Audit staff. For the next 12 years he held positions of increased responsibility in financial and operating management in industrial businesses, corporate and at GE Capital.
Loree is an active member of the business community and the nonprofit sector. He is a director of Whirlpool Corporation, serves as a trustee of his alma mater, Union College (where he earned his bachelor’s in Economics), and is a director at both Hartford Hospital and the Jim and Rebecca Loree Foundation. He is a member of the Wall Street Journal CEO Council, the Business Roundtable, the U.S. Chamber of Commerce, Fortune’s CEO Initiative and the CEO Action for Diversity & Inclusion. He is also a director for the National Association of Manufacturers.
Loree is happily married to his wife, Rebecca, with four children…all young women.
Stanley Black Decker, Inc., formerly known as The Stanley Works, is a Fortune 500 American manufacturer of industrial tools and household hardware and provider of security products and locks headquartered in New Britain, Connecticut. Stanley Black Decker is the result of the merger of Stanley Works and Black Decker on March 12, 2010.[4]
