Appliance maker names board member
An appliance maker in the region has appointed the top executive of a tool manufacturer to its board of directors.
Benton Harbor-based Whirlpool Corporation added James Loree, president and CEO of New Britain, Connecticut-based Stanley Black & Decker Inc., to its board, effective immediately.
Loree will serve on the Audit Committee and the Corporate Governance and Nominating Committee.
“Jim is a proven, respected leader in the consumer products industry, and we are excited to welcome him to the Whirlpool board of directors,” said Jeff Fettig, Whirlpool chair.
“We believe his strong experience, particularly in financial management, strategic planning and mergers and acquisitions, will be extremely valuable as Whirlpool continues strengthening our operations in developed and emerging markets.”
The Whirlpool board of directors consists of 14 members elected to one-year terms and currently includes Fettig, former CEO, and Marc Bitzer, who succeeded Fettig as CEO on Oct. 1.
Loree also will serve one year unless re-elected.
Loree was named president, CEO and director of Stanley Black & Decker in 2016 after serving as president and COO since 2013.
Prior to that, Loree was executive vice president and COO.
Loree joined The Stanley Works as vice president and CFO in 1999, following 19 years with General Electric Co.
He previously served as a director of Harsco Corp.
Loree earned a bachelor’s degree in economics from Union College.
Whirlpool Corp. (NYSE: WHR) had nearly $21 billion in sales, 93,000 employees and 70 manufacturing and technology research centers in 2016.
The company markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand names around the world.