Sherwin-Williams’ Board of Directors has elected Heidi Petz to serve as Chief Executive Officer, effective 1 January 2024.
Currently President and Chief Operating Officer of Sherwin-Williams, Petz will assume the CEO duties currently held by John Morikis. She will remain President, while Morikis will continue to serve the company as Executive Chairman. Additionally, the board expanded from 10 members to 11 and elected Petz to fill the vacancy, effective 10 October 2023.
“Today’s announcement follows a comprehensive process and multi-year organisational succession plan to identify the best candidate to lead the company,” said Morikis. “Heidi has been an invaluable member of my leadership team, demonstrating a record of driving growth and operational excellence that has generated increased value for our customers, shareholders, and employees. With this transition, Heidi becomes only the 10th CEO in the 157-year history of the company. Supported by a deep and experienced senior leadership team, she is the right leader to accelerate achievement of the company’s growth and profitability goals.”
Prior to her current roles, Petz served as President of the Americas Group and President of the Consumer Brands Group, leading both global businesses through what Sherwin-Williams said were some of the most challenging periods in the company’s history.
Petz joined Sherwin-Williams in June 2017 in connection with the Valspar acquisition. Prior to joining Valspar in 2013, she held various leadership positions with Target Corporation, Newell Rubbermaid and PriceWaterhouseCoopers.
She serves on the board of directors of Ulta Beauty, the board of the University Hospitals Health System in Cleveland, Ohio, and is a member of the Harvard Joint Center for Housing Studies Policy Advisory Board. She holds a bachelor’s degree in business and leadership from the University of Richmond, and an MBA from Loyola University Maryland.
“The selection of Heidi as CEO is the result of a well-developed and thoughtful process to ensure a seamless leadership transition that focuses on strength, momentum, and growth,” said Jeff Fettig, Sherwin-Williams Lead Director.
“We are pleased John has agreed to remain in his role as Executive Chairman, continuing an incredible career that began 39 years ago as a member of one of the first Sherwin-Williams management trainee classes, progressing through numerous roles of increasing responsibility, and ultimately ascending to CEO.
“On behalf of the entire board, we thank John for his extraordinary leadership, commitment, and dedication to Sherwin-Williams, as well as his many accomplishments and business decisions that drove the company’s strong performance and unprecedented growth during his tenure as CEO.”