The Sherwin-Williams Company (NYSE: SHW) has officially announced the appointment of Heidi G. Petz as the next Chief Executive Officer, effective from January 1, 2024.
Ms. Petz, aged 48, has been serving as the President and Chief Operating Officer of Sherwin-Williams for the past two years and will now take on the responsibilities of CEO, a role currently held by Chairman and CEO John G. Morikis. Ms. Petz will continue her role as President.
Following his tenure as CEO since 2016, Mr. Morikis will continue to serve as Executive Chairman. In addition to these changes, the Board of Directors has increased its size from 10 to 11 members and elected Ms. Petz to fill the resulting vacancy, effective from October 10, 2023.
Before serving as President and Chief Operating Officer, Ms. Petz held the position of President of The Americas Group and, prior to that role, she led as President of the Consumer Brands Group, successfully guiding both of these global businesses through some of the most challenging periods in the Company’s history. Ms. Petz joined the Company in June 2017 as part of the Valspar acquisition. Before her time with Valspar in 2013, she held various leadership positions with Target Corporation, Newell Rubbermaid, and PriceWaterhouseCoopers.
Ms. Petz will succeed Mr. Morikis, and she will be supported by an experienced team of leaders with an average of 27 years of Sherwin-Williams experience. Allen J. Mistysyn will continue as Senior Vice President – Finance and Chief Financial Officer, and Justin T. Binns, Karl J. Jorgenrud, and Todd D. Rea will continue to lead the Company’s reportable segments. Colin M. Davie will lead the global supply chain organization, inclusive of global manufacturing operations, which will continue to be led by Joseph F. Sladek. Mr. Binns and Mr. Jorgenrud will assume additional enterprise-wide responsibilities, including greater engagement with the global supply chain organization to accelerate customer solutions and drive productivity.
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