Company: Stanley Black & Decker, Inc.
Company Description: Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, and more.
Nomination Category: Management Categories
Nomination Sub Category: Executive of the Year - Consumer Products – Durables

Nomination Title: John F. Lundgren, CEO

Tell the story about what this nominee achieved since January 1 2011 (up to 500 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms. Be sure to mention obstacles overcome, innovations or discoveries made, and outcomes:

John F. Lundgren, CEO Stanley Black & Decker led the company through the merger of Stanley Works and Black & Decker in 2010. The company had a great 2011 with Lundgren’s strategy to use best practices of both companies to succeed and expand internationally with multiple brands.

“2011 was a notable year for our Company. It was a year during which we drove change, growth and value in virtually every business and region where we compete, despite very little help from our external markets, particularly those which are construction-related. It was also a year in which revenues reached $10 billion and free cash flow exceeded $1 billion* for the first time in our history”

Our stated strategy of continuous evolution as a diversified industrial company remains in place.

• A balanced capital allocation plan over the long term, in which roughly two-thirds of our free cash flow will be deployed to promote organic growth across all businesses and to complete acquisitions within our four growth platforms.

• The portfolio strategy centers around a steady and methodical reallocation of capital to activities where superior returns are sustainable and above-portfolio–average organic growth is achievable

• 2011 was an exemplary year to illustrate this, as we increased our dividend 20%, implemented a $350 million share repurchase, lowered our debt to EBITDA ratio to 2.2x from 2.8x, and purchased a leading European commercial electronic security and monitoring company, Niscayah.

The Stanley Black & Decker Integration

When the company announced the transaction in November of 2009 we laid out the following three-year targets: $350 million in cost synergies, $1.5 billion in EBITDA, $1 billion in Free Cash Flow and $5.00 in EPS.

As we close out 2011—and the first twenty-two months as a combined enterprise —we have already achieved approximately $350 million in cost synergies and raised our estimate to $450 million by the end of 2012. During our first full year of management, the Free Cash Flow target has been achieved and the EPS and EBITDA targets have been exceeded.

In 2011, we conducted a global employee opinion survey. The feedback was encouraging, as close to 90% of the questions surveyed were considered favorable or highly favorable, and the responses from each legacy company were virtually identical

Going Forward

"We commenced 2012 on solid footing amidst a macroeconomic backdrop filled with mixed signals," said Stanley Black & Decker President and CEO John F. Lundgren. "March 12th marked the two year anniversary of the Stanley Black & Decker combination and we remain pleased with how the integration has progressed. We are in the final stages of achieving the previously announced annualized cost synergy rate of $485 million as we enter 2013, up from our original forecast of $350 million. Our plans to achieve $300 - $400 million in revenue synergies by 2013 remain on track and we feel confident these projects will drive profitable organic growth as they did in 2011."

Upload a collection of supporting files and web addresses to our server to provide more background information to the judges. You may upload any number of attachments and URLs through the "Add Attachments, Videos, or Links to This Entry" link above.

http://yearinreview.stanleyblackanddecker.com/at-a-glance.html
http://www.appliancemagazine.com/news.php?article=1576514
http://articles.businessinsider.com/2012-01-25/markets/30662174_1_stanley-black-decker-john-f-lundgren-lower-share-count#ixzz1utfrToCF
http://ir.stanleyblackanddecker.com/phoenix.zhtml?c=114416&p=irol-newsArticle&ID=1652801&highlight=
http://articles.businessinsider.com/2012-01-25/markets/30662174_1_stanley-black-decker-john-f-lundgren-lower-share-count#ixzz1utgGjssb
http://articles.businessinsider.com/2012-01-25/markets/30662174_1_stanley-black-decker-john-f-lundgren-lower-share-count#ixzz1utgEChOi
http://investing.businessweek.com/research/stocks/people/person.asp?personId=179737&ticker=SWK:US&previousCapId=304977&previousTitle=STANLEY%20BLACK%20%26%20DECKER%20INC

Provide a brief (up to 100 words) biography about the nominee:

Mr. John F. Lundgren has been the Chief Executive Officer of Stanley Black & Decker, Inc. (Formerly Stanley Works) since March 1, 2004 and its President since March 2010. Mr. Lundgren served as Chairman of Stanley Black & Decker, Inc. from March 1, 2004 to March 12, 2010. Mr. Lundgren has been a Director of Stanley Works since March 1, 2004 and Callaway Golf Co. since March 05, 2009. He is a member of the Board of Directors of the National Association of Manufacturers (NAM). Mr. Lundgren is a graduate of Dartmouth College and received his MBA from Stanford University