Stanley Black & Decker appointed Patrick Hallinan as EVP and CFO effective April 6, the hardware manufacturer announced Monday.
Hallinan will succeed interim CFO Corbin Walburger, who will resume his previous role as VP for business development.
The incoming CFO most recently served as EVP and CFO for Fortune Brands Innovations, where his career spanned 17 years, including both financial and technology leadership roles.
Walburger has served in the role since July, when former CFO Donald Allan, Jr. was promoted to CEO.
“Patrick is a seasoned executive who has led global, high performing finance functions across top consumer brands,” CEO Donald Allan Jr. said in a statement. “I look forward to partnering with him as we execute our transformation to streamline and optimize the company around our core business and strong portfolio of global brands.”
Stanley Black & Decker is in the midst of a three-year, $1.5 billion cost savings plan to reduce its manufacturing footprint and cut its product portfolio by 40%.
“I am honored to be joining Stanley Black & Decker … at such a pivotal moment,” Hallinan said in a statement. “Having long followed the company, I have tremendous respect for this leadership team and the transformation that is already progressing rapidly.”
