Patrick J. McHale to Retire as Graco’s President & CEO
February 16 2021 - 8:00AM
Business Wire
Graco appoints Mark W. Sheahan as successor
effective June 10, 2021
Graco Inc. (NYSE:GGG), a leading manufacturer of fluid
handling equipment, announced today that Mark W. Sheahan has been
appointed President and Chief Executive Officer of the Company
effective June 10, 2021. He succeeds Patrick J. McHale who, on Feb.
11, 2021, submitted his notice of intent to retire from the
Company. Mr. McHale will step down from his CEO and board positions
on June 10, 2021, but will remain employed by the Company through
Sept. 15, 2021 to assist with the leadership transition. The board
also appointed Mr. Sheahan a director effective June 10, 2021.
“After a thorough and thoughtful succession planning process,
Mark is the clear choice to lead Graco into the future as President
and CEO,” said Lee R. Mitau, Chairman of the Board. “In addition to
successful corporate roles including most recently as CFO, Mark has
a decade of experience leading a large and complex Graco division
where he successfully developed and implemented business strategies
and delivered exceptional results.”
Mr. Sheahan, 56, joined Graco in 1995. He has served as Chief
Financial Officer and Treasurer since 2018. From 2008 to 2018, he
was Vice President and General Manager of the Applied Fluid
Technologies Division. He served in various corporate roles from
1995 to 2008. Mr. Sheahan graduated from the Carlson School of
Management, University of Minnesota, with a Bachelor of Science in
Business degree (accounting concentration). He also attended
William Mitchell College of Law, from which he graduated with a
juris doctorate degree.
Mr. McHale has been Graco’s President and CEO since 2007, and
has worked for the Company for more than 31 years. “It’s been a
great honor to spend my career at Graco. We have an outstanding
team of employees, a high-performance and fact-based culture, great
distributor and supplier partnerships, and a proud history of
delivering high-quality and leading-technology products globally
for nearly a century,” said Mr. McHale. “I am pleased to be able to
pass the leadership torch to Mark, who shares my commitment to
Graco’s culture, values, employees and business partners.”
Mr. Mitau thanked Mr. McHale on behalf of the board for his
extraordinary leadership at the Company. “Pat’s contributions to
Graco have been immense. His relentless drive for operational
excellence, product innovation and superior customer service has
propelled the Company to ever higher levels of performance. All
Graco stakeholders are grateful for Pat’s tireless efforts, and the
board wishes him well in retirement.”
ABOUT GRACO
Graco Inc. supplies technology and expertise for the management
of fluids in both industrial and commercial applications. It
designs, manufactures and markets systems and equipment to move,
measure, control, dispense and spray fluid and powder materials. A
recognized leader in its specialties, Minneapolis-based Graco
serves customers around the world in the manufacturing, processing,
construction and maintenance industries. For additional information
about Graco Inc., please visit us at www.graco.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210216005340/en/
FOR FURTHER INFORMATION: Investors: Mark Sheahan,
612-623-6656 Media: Charlotte Boyd, 612-623-6153
Charlotte_M_Boyd@graco.com
Graco (NYSE:GGG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Graco (NYSE:GGG)
Historical Stock Chart
From Jul 2023 to Jul 2024