SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 5, 2004
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The Stanley Works
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(Exact name of registrant as specified in charter)
Connecticut 1-5224 06-0548860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
1000 Stanley Drive, New Britain, Connecticut 06053
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (860) 225-5111
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Not Applicable
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(Former name or former address, if changed since last report)
Exhibit Index is located on Page 3
Page 1 of 5 Pages
Item 5. Other Events.
The Stanley Works has announced the election of John F. Lundgren to
the posts of chairman and chief executive officer, effective
March 1, 2004. A copy of the press release announcing Mr. Lundgren's
election is filed herewith as Exhibit 99.1 and is hereby
incorporated by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
Exhibit No. Description
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99.1 Press release, dated February 5, 2004 issued by The
Stanley Works, announcing the election of John F.
Lundgren to the posts of chairman and chief executive
officer, effective March 1, 2004.
Page 2 of 5 Pages
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE STANLEY WORKS
Date: February 5, 2004 By: /s/ Bruce H. Beatt
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Name: Bruce H. Beatt
Title: Vice President, General
Counsel and Secretary
EXHIBIT INDEX
Current Report on Form 8-K
Dated February 5, 2004
Exhibit No. Page
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99.1 4
Page 3 of 5 Pages
Exhibit 99.1
FOR IMMEDIATE RELEASE
The Stanley Works Names John F. Lundgren Chairman and Chief Executive Officer
New Britain, Connecticut, February 5, 2004... The Board of Directors of The
Stanley Works (NYSE: SWK) today announced the election of John F. Lundgren to
the posts of chairman and chief executive officer, effective March 1, 2004,
concluding the board's search to fill this position. He will head the Office of
the CEO and will oversee all corporate functions and business operations.
Mr. Lundgren, 52, has been employed by Georgia-Pacific Corporation since 2000,
as President - European Consumer Products, a $2 billion business based in
London. In that role, he has served industrial and consumer customers, including
large retailers across Europe. As president of European operations, he reported
to Georgia-Pacific's Chairman & CEO.
Mr. Lundgren held that same position with James River Corporation from 1995-1997
and Fort James Corporation from 1997-2000 until its acquisition by
Georgia-Pacific in 2000. In this role he directed all operations, business
strategy, long-range planning, merger and acquisition activity including the
integration of acquired businesses, divestitures and strategic services.
The interim structure announced January 2, which includes John D. Opie, interim
Chairman, Joseph J. DeAngelo, Executive Vice President and President - Tools
Group, and James M. Loree, Executive Vice President - Finance and CFO, will
continue to oversee the company's operations until March 1. Mr. Opie commented:
"We are delighted to announce the appointment of John Lundgren as Stanley's new
Chairman and CEO. John has the experience and the ideal background to lead
Stanley through the growth phase of its corporate development. His strong
marketing, strategic planning and portfolio realignment skills line up perfectly
with our growth objectives. I am confident the company will continue to make
strong progress with all of its customer and investor focused initiatives under
his leadership."
Page 4 of 5 Pages
Mr. Lundgren stated: "I was pleased to see Stanley report strong fourth quarter
growth last week. I have watched with great interest as the company recently
took several key steps to reposition its portfolio of businesses to achieve a
stronger presence in favored markets. The two growth platforms - Tools and
Security Solutions - are a great base upon which the company's growth phase can
be built. Recognizing the great potential for high performance inherent in this
strategy, I look forward to continuing the process of achieving sustained growth
and enhanced shareholder returns."
Mr. Lundgren added: "This company has a proud history and, at the same time,
enormous potential. It is a real privilege to be able to oversee a 160 year-old
company that is recognized throughout the world as a great brand name."
Prior to 1995, Mr. Lundgren held positions of increasing responsibility with
Jamont N.V. (a James River joint venture), James River Corporation, American Can
Company and Gillette Company in a variety of disciplines that included strategic
planning, corporate development, marketing and product management. He holds an
M.B.A. from Stanford University and a B.A. from Dartmouth College.
The Stanley Works, an S&P 500 company, is a worldwide supplier of tools,
hardware and security solutions for professional, industrial and consumer use.
More information about The Stanley Works, including corporate press releases,
can be found at http://www.stanleyworks.com.
Contact: Gerry Gould, Vice President - Investor Relations at (860) 827-3833
ggould@ stanleyworks.com
Page 5 of 5 Pages