Mathias Klein III will retire as chairman of the board of Lincolnshire, Illinois-based Klein Tools in June, 2015 but will continue to serve on the company’s board of directors.
The company said Klein’s 46-year career with the company helped transform Klein Tools into an innovative manufacturer and industry leader. Upon Mat’s retirement, current president Thomas R. Klein Sr. (Tom) will succeed him as chairman. Additionally, Mark Klein, vice president of domestic sales, and Thomas Klein Jr. (Tom Jr.), general manager of heavy infrastructure, will be promoted and serve as co-presidents of Klein Tools effective Jan. 1, 2015.
“Mat will be long remembered for his steadfast commitment to the company,” said Thomas R. Klein Sr. “With his leadership and vision, Klein Tools is in a better position today than when he started years ago.”
“Under Tom’s leadership as president, Klein Tools not only survived the recession, it emerged stronger and became the undisputed leader in the hand tool industry,” stated Mathias Klein III chairman of Klein Tools. “His compelling vision ultimately drove Klein to become the world-class manufacturer and new product development machine that it is today. In his new role as chairman, Tom will be in a position to continue to help drive Klein Tools into the future.”