Business

ITW announces CEO succession plan

Posted September 06, 2023 11:00 pm

GLENVIEW - Illinois Tool Works Inc. announced a succession plan that promotes Christopher A. O'Herlihy, currently vice chairman, to president and chief executive officer and a member of the ITW board of directors effective Jan. 1.

E. Scott Santi, ITW's CEO since 2012, will step down as CEO but remain chairman of the ITW board until March 1, at which time he will become nonexecutive chairman of the ITW board.

ITW is a global, multi-industry manufacturing company with revenue of $15.9 billion in 2022. It employs 46,000 people.

"ITW's independent directors and I determined that this is the right time to transition to a leader who can see the company through this next phase, and that Chris O'Herlihy is the absolute right person to lead ITW forward as our next CEO." Santi said.

O'Herlihy, 59, has been with ITW for 34 years and will become the eighth CEO in ITW's 112-year history. He was named executive vice president of the company's Food Equipment Group in 2010 and elected vice chairman in 2015.

O'Herlihy has a bachelor's degree in science from the University College Cork, Ireland, and a master's degree in science from the University of Massachusetts.

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