CLEVELAND, Oct. 25, 2016 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) announced today that its
Board of Directors has elected Allen J.
Mistysyn to serve as Senior Vice President – Finance and
Chief Financial Officer, effective January
1, 2017. Mr. Mistysyn, 47, has served as
Sherwin-Williams' Senior Vice President – Corporate Controller
since October 2014 and will assume
the CFO duties currently held by Sean P.
Hennessy. Mr. Hennessy will remain with the Company in
the role of Senior Vice President – Corporate Planning, Development
and Administration where he will provide support for the Valspar
acquisition integration planning process and assist Mr. Mistysyn
with his new role to ensure a smooth transition of
responsibilities.
"This appointment is the result of the Board's multi-year
succession planning process to identify the absolute best candidate
to assume leadership of the Company's financial and risk management
operations," said John Morikis,
President and Chief Executive Officer. "Al has served
as an important member of our senior leadership team for many years
and exemplifies the right combination of financial, strategic and
accounting leadership experience to support the Company's continued
growth and success."
Mr. Mistysyn has held a variety of operational and corporate
finance leadership positions since joining Sherwin-Williams in June
1990. Prior to his appointment as Senior Vice President –
Corporate Controller, he served as Vice President – Corporate
Controller from May 2010 to October
2014. Mr. Mistysyn also served as Vice President – Assistant
Corporate Controller from August 2009
to May 2010, Vice President –
Controller, Paint and Coatings Division from November 2006 to August
2009, and Vice President – Controller, Consumer Division
from February 2003 to November
2006. Additionally, Mr. Mistysyn served in various roles in
our Paint Stores Group and Product Finishes Division. Mr.
Mistysyn holds a Bachelor's degree in Finance with a minor in
Economics from The Pennsylvania State
University, and a Master's degree in Business Administration
from Case Western Reserve
University.
"We are fortunate to have such a strong internal candidate in
Al Mistysyn for the role of CFO, a
reflection of our ongoing commitment to management development and
succession," said John Stropki,
Sherwin-Williams' Lead Director. "The Board is also pleased
that Sean Hennessy will continue to
provide support and guidance as we transition to a new CFO and
close the acquisition of Valspar. Sean's extraordinary
vision, insight and execution during his 15 years as CFO have been
instrumental in contributing to the Company's strong operating
results, responsible and disciplined financial management and
significant returns for our shareholders."
Sherwin-Williams also announced that, effective October 25, 2016, the Board elected Jane M. Cronin as Senior Vice President –
Corporate Controller. Mr. Mistysyn will serve in the role of
Senior Vice President – Finance until assuming the role of Senior
Vice President – Finance and CFO on January
1, 2017.
Ms. Cronin, age 49, has been employed with Sherwin-Williams
since September 1989. She has served as Vice President –
Corporate Audit and Loss Prevention since September 2013. She
served as Vice President – Controller, Diversified Brands Division,
Consumer Group from July 2005 to
September 2013, prior to which she
served as Director of Accounting, Consumer Group from August 2003 to July
2005. Ms. Cronin holds a Bachelor's degree in Accounting
from Miami University (Ohio).
"Jane is a highly effective leader and a skilled accountant,"
said Mr. Morikis. "This appointment reflects our recognition
of her success with the Company and our confidence in her skills
and experience to lead the Company's global accounting operations
and financial reporting functions."
The Sherwin-Williams Company, founded in 1866, is one of the
world's leading companies engaged in the manufacture, distribution
and sale of coatings and related products to professional,
industrial, commercial and retail customers.
Investor Relations
Contact:
Bob Wells
Senior Vice
President, Corporate Communications
and Public
Affairs
Sherwin-Williams
Direct:
216.566.2244
rjwells@sherwin.com
|
Media
Contact:
Mike
Conway
Director, Corporate
Communications
Sherwin-Williams
Direct:
216.515.4393
Pager:
216.422.3751
mike.conway@sherwin.com
|
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SOURCE The Sherwin-Williams Company