CLEVELAND, Oct. 28, 2019 /PRNewswire/ -- The
Sherwin-Williams Company (NYSE: SHW) announces with deep sadness
the loss of John G. ("Jack") Breen, former Chairman and Chief
Executive Officer of Sherwin-Williams. Mr. Breen passed away today
at the age of 85.
"On behalf of the Board of Directors and the entire
Sherwin-Williams family worldwide, we extend our deepest
condolences to Jack's wife, Mary
Jane, and the Breen family. Jack was a tremendous leader and
well respected across the organization, as well as by customers,
shareholders and community leaders," states John G. Morikis, Sherwin-Williams Chairman and
Chief Executive Officer. "Jack is credited with saving the Company
from the many difficult financial challenges he inherited after
being named only the seventh CEO in Sherwin-Williams history. He
was instrumental in returning the Company back to its roots of
providing unmatched products and services to customers. Under his
leadership, he led a strategic restructuring that focused on
selling products through a revitalized platform of company-operated
stores and expanding into other distribution channels, both of
which resulted in Sherwin-Williams becoming an industry leader.
Jack also implemented the Sherwin-Williams Management Training
Program, which strengthened leadership development and sustained
performance that continues today. Jack was a great mentor and
friend to many, and he was an inspiration to all."
Mr. Breen joined the Company in 1979 as Chief Executive Officer
and under his visionary leadership and direction, Sherwin-Williams
achieved 21 consecutive years of earnings improvement. During his
tenure, revenues grew from $1.1
billion to more than $5.0
billion in 1999, and net income improved from $5.0 million to $304
million. In addition, the number of Sherwin-Williams stores
grew from 1,400 in 1979 to 2,396 in 1999. Mr. Breen was known for
his unquestioned commitment to delivering innovative, high-quality
products to customers, providing strong returns to shareholders,
and implementing career enhancing and wealth building opportunities
to employees. Mr. Breen retired as CEO in October 1999 and as Chairman in April 2000. In June
2000, Sherwin-Williams dedicated the John G. Breen
Technology Center in Cleveland to
honor his long, distinguished service. Mr. Breen remained a member
of the Sherwin-Williams Board of Directors until his retirement in
April 2005. In addition to his
responsibilities to the Company, Mr. Breen served on the Board of
Directors for several corporations and non-profit organizations.
Over his lifetime, he was a generous supporter of numerous
non-profit organizations including the Achievement Centers for
Children, University Hospitals, John Carroll
University and Saint Ignatius High School.
Known for his honest, no-nonsense determination and tough-minded
decision-making, Mr. Breen was exceedingly committed to the success
of Sherwin-Williams during his tenure. "I had the good fortune of
working with Jack for many years and drawing upon his advice and
counsel, which served me well throughout my career with
Sherwin-Williams," adds Christopher M.
Connor, former Chairman and Chief Executive Officer. "Jack
was an exceptional leader. We are forever grateful for his
remarkable legacy, and he will be greatly missed."
About The Sherwin-Williams Company
Founded in 1866,
The Sherwin-Williams Company is a global leader in the manufacture,
development, distribution, and sale of paints, coatings and related
products to professional, industrial, commercial, and retail
customers. Sherwin-Williams manufactures products under well-known
brands such as Sherwin-Williams®, Valspar®,
HGTV HOME® by Sherwin-Williams, Dutch Boy®,
Krylon®, Minwax®, Thompson's® Water Seal®,
Cabot® and many more. With global headquarters in
Cleveland, Ohio,
Sherwin-Williams® branded products are sold exclusively
through a chain of more than 4,900 company operated stores and
facilities, while the company's other brands are sold through
leading mass merchandisers, home centers, independent paint
dealers, hardware stores, automotive retailers, and industrial
distributors. The Sherwin-Williams Performance Coatings Group
supplies a broad range of highly-engineered solutions for the
construction, industrial, packaging and transportation markets in
more than 120 countries around the world. Sherwin-Williams shares
are traded on the New York Stock Exchange (symbol: SHW). For more
information, visit www.sherwin.com.
Investor Relations Contacts
Jim Jaye
Senior Vice President – Investor Relations & Corporate
Communications
216-515-8682
james.r.jaye@sherwin.com
Eric Swanson
Vice President, Investor Relations
216-566-2766
eric.r.swanson@sherwin.com
Media Contacts
Julie
Young
Vice President, Global Corporate Communications
216-515-8849
julie.s.young@sherwin.com
Mike Conway
Director, Corporate Communications and Investor Relations
Sherwin-Williams
216.515.4393
mike.conway@sherwin.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/sherwin-williams-announces-the-passing-of-former-chairman-and-ceo-john-g-breen-300946705.html
SOURCE The Sherwin-Williams Company