TOWSON, Md., March 1 /PRNewswire-FirstCall/ -- The Black & Decker
Corporation (NYSE: BDK) today announced that it has reorganized its power
tools and accessories business into two separate groups. The purpose of the
reorganization is to streamline the worldwide organizational structure of the
power tools and accessories business and bring sharper focus to the
Corporation's Black & Decker and DEWALT brands. Thomas D. Koos, 40, has been
named Group Vice President and President - Black & Decker(R) Consumer Group.
John W. Schiech, 45, has been named Group Vice President and President -
DEWALT(R) Professional Group. Both executives will have worldwide
responsibility and will report to Nolan D. Archibald, Chairman and Chief
Executive Officer.
Mr. Koos joined the Corporation in 1999 as Vice President - Business
Development for Power Tools and Accessories. He had been President - Black &
Decker Consumer Products in the United States since 2000. Before joining
Black & Decker, he was President of the Goody Products Division of Newell
Rubbermaid. Mr. Schiech has been employed by the Corporation since 1980 in
engineering, marketing and general management positions in the professional
power tools business, both in the United States and in Europe. He had been
President - DEWALT Professional Products in the United States since 1999.
Under the new structure, Ian Carter, 42, who headed the power tools and
accessories business in Europe, has been named President - Europe and Asia
with responsibility for Europe, Asia, Australia, and New Zealand. Edward J.
Scanlon, 49, formerly in charge of North American commercial operations, has
been named President - Commercial Operations, North and South America.
Paul F. McBride, 48, has been named to the newly created corporate post of
Senior Vice President - Human Resources and Corporate Initiatives. In this
capacity, Mr. McBride will have worldwide responsibility for human resources
as well as the Corporation's Six Sigma and executive development programs. He
will report to Mr. Archibald. Mr. McBride succeeds Leonard A. Strom, who has
retired after a 20-year career at the Corporation, having served as Senior
Vice President - Human Resources for the past 18 years.
Mr. McBride had been President - Power Tools and Accessories Group since
joining Black & Decker in 1999. Mr. McBride had been previously employed
since 1978 by General Electric Company, where he held various management
positions in several businesses in the United States, Mexico and Asia,
culminating in his role as Vice President and General Manager of the global
silicones business.
In addition, Christopher T. Metz, 38, has been named Group Vice President
and President - Hardware and Home Improvement Group. Mr. Metz has headed
Kwikset(R) security hardware and the Corporation's North American Hardware and
Home Improvement business for several years. He will continue to report to
Mr. Archibald.
Commenting on the changes, all of which are effective immediately, Mr.
Archibald said, "We believe that the new power tools and accessories
organization will streamline our management structure and bring sharper focus
to each of our key brands. This business is in the enviable position of
having two exceptionally strong global brands, Black & Decker and DEWALT, both
of which have the potential to generate significantly greater sales volume
than current levels. With Tom Koos leading the worldwide Black & Decker
Consumer Group and John Schiech heading the worldwide DEWALT Professional
Group, we will be in an excellent position to drive initiatives that will
increase sales and profits more rapidly for both of these brands through
internal growth and acquisitions. Tom and John each have distinguished
themselves in their careers at Black & Decker and are highly respected within
the power tool industry. We look forward to exciting progress in the power
tools and accessories business under their leadership.
"Len Strom has made invaluable contributions to our company and has earned
a long and happy retirement. We will miss him, but are fortunate to have Paul
McBride, a seasoned executive, in house. His broad managerial experience and
skill base will enable us to leverage the traditional human resources role to
include responsibility for our corporate-wide Six Sigma Program and executive
development efforts.
"Our Hardware and Home Improvement Group has recently added the strong
Baldwin and Weiser brand names to its Kwikset security hardware and Price
Pfister(R) plumbing products operations. Chris has done an excellent job of
moving this Group forward, and his new title reflects his increased
responsibility."
This release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. By their nature, all forward-looking statements involve
risks and uncertainties. For a more detailed discussion of the risks and
uncertainties that may affect Black & Decker's operating and financial results
and its ability to achieve the financial objectives discussed in this press
release, interested parties should review the "Forward-Looking Statements"
sections in Black & Decker's reports filed with the Securities and Exchange
Commission, including the Annual Report on Form 10-K for the fiscal year ended
December 31, 2002.
Black & Decker is a leading global manufacturer and marketer of power
tools and accessories, hardware and home improvement products, and technology-
based fastening systems.
SOURCE Black & Decker Corporation
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CONTACT:
Barbara B. Lucas, Senior Vice President,
Public Affairs, +1-410-716-2980; or Mark M. Rothleitner, Vice
President, Investor Relations and Treasurer, +1-410-716-3979,
both of Black & Decker Corporation
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