Stanley Black & Decker has announced that Chief Operating Officer Chris Nelson will become the company’s next President and Chief Executive Officer, effective October 1, 2025. Nelson will succeed Donald Allan Jr., who will transition to the role of Executive Chairman of the Board until his planned retirement on October 1, 2026.
Nelson, 55, joined Stanley Black & Decker in June 2023 as Chief Operating Officer and Executive Vice President, also serving as President of the Tools & Outdoor business. In this role, he has been instrumental in streamlining operations and advancing the strategic roadmap for the company’s $13 billion Tools & Outdoor division.
Prior to joining Stanley Black & Decker, Nelson held executive positions at Carrier Global Corporation, including President of the company’s heating, ventilation, and air-conditioning segment. His career also includes leadership roles at Johnson & Johnson, McKinsey & Company, and service as an officer in the U.S. Army.
Under Allan’s leadership since July 2022, Stanley Black & Decker implemented a $2 billion cost-cutting plan aimed at improving profitability and cash flow. This initiative included facility closures and workforce reductions in response to global economic challenges and tariffs.
As CEO, Nelson is expected to continue these efforts, focusing on innovation and operational efficiency to drive sustainable growth. His compensation package includes a base salary of $1.3 million, a target annual bonus of 160% of his base salary, and equity awards with a target grant date value of over $10.3 million for 2026.
The leadership transition also brings changes to the company’s board. Nelson will join the board of directors upon assuming the CEO role, and Andrea Ayers, currently Chair of the Board, will become Lead Independent Director and continue to chair the Executive Committee.
“I am honored to become President and CEO of Stanley Black & Decker, an iconic American company with a proud legacy and an incredibly bright future,” Nelson said in a statement. “Over the past two years, I have had the privilege of working closely with Don and the leadership team, gaining a deep understanding of the needs of our customers and end-users, as well as the unique opportunities ahead for our company.”
Allan expressed confidence in Nelson’s leadership, stating, “Chris is ideally suited to lead Stanley Black & Decker through our next phase of growth. On behalf of the Board, we look forward to working with him even more closely in his role as President and CEO.”
Stanley Black & Decker, headquartered in New Britain, Connecticut, is a global leader in tools and outdoor products, with brands including DEWALT, BLACK+DECKER, CRAFTSMAN, and STANLEY. The company employs approximately 48,000 people worldwide and reported revenues of $15.4 billion in 2024.
