Global coatings firm The Sherwin-Williams Company recently announced that John G. Morikis will retire from his position as Executive Chairman at the end of the year. The move will be effective at the end of business on Dec. 31, following his 40-year career with the company.
Morikis will reportedly remain a member of the Sherwin-Williams Board of Directors until his retirement from the Board at the end of his current term at the 2025 Annual Meeting of Shareholders in April 2025.
The Board has also elected Heidi G. Petz to assume the additional role of Chair of the Board effective Jan. 1. Petz became Chief Executive Officer and President after Morikis’ retirement from the position back in October 2023.
“My deep and sincere thanks go to John for his exceptional leadership, dedication and vision over his distinguished career with Sherwin-Williams,” commented Petz. “John’s passion for driving the success of our customers and our employees resulted in strong and sustained performance by our Company throughout his tenure. He leaves us with a tremendous foundation upon which we can continue to build profitable growth for years to come. We wish him all the best in his well-deserved retirement.”
Petz joined Sherwin-Williams with the acquisition of The Valspar Corporation in 2017. Since joining the company, she has held positions of increasing responsibility, including president of the Consumer Brands Group, president of The Americas Group and, prior to her current role, president and chief operating officer. Prior to joining Sherwin-Williams and Valspar, she also held various leadership roles with Newell Rubbermaid, Target Corporation and PricewaterhouseCoopers.
“This announcement is the result of a defined and thoughtful leadership transition process for the Company and the Board,” said Jeff M. Fettig, Sherwin-Williams Lead Director. “The Board believes this leadership structure, with Heidi serving as both CEO and Chair, is the most efficient and effective model for the Company as it provides unified leadership and focus.
“Heidi's broad business experience, including her successful career in various key corporate and business unit leadership positions with the Company, makes her well suited for this role. On behalf of the Board of Directors, our shareholders, customers, employees and other stakeholders, I thank John for his four decades of extraordinary service to Sherwin-Williams. His decisive leadership and strategic direction drove consistently strong results for the Company. John leaves us positioned exceedingly well for the future, and we wish him a happy and healthy retirement.”
