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Fastenal, SW make ‘wealth creators’ list

BY Brae Canlen

William Oberton, CEO of Fastenal, came in third place on the top “Wealth Creators” by Chief Executive magazine. The annual list shows which CEOs have created the most value for shareholders during the three-year period from July 2009 through June 2012. The rankings were limited to CEO’s at S&P 500 companies who had been in their jobs for at least three years.

Christopher Connor, CEO of paint manufacturer Sherwin Williams, ranked No. 14. James Ryan, chief executive of W.W. Grainger, came in 10th place.

The rankings, created in collaboration with Great Numbers! and the Applied Finance Group, looked at four key measurements: operating cash flow in excess of its risk-adjusted cost of capital, prospects for continuing to make money, wise use of capital and market value of the company’s assets.

"CEOs are hired to create wealth for their shareholders, as well as value for their customers and employees," said J.P. Donlon, Chief Executive’s editor-in-chief. "Chief Executive created the Wealth Creators Index to measure just how well or how poorly some CEOs are performing their jobs."

Bed Bath & Beyond CEO Steven Temares was ranked 59th. Michael Koehler, CEO of Teradata, occupied the 73rd place on the index, two spots above Amazon.com CEO Jess Bezos.

To see the complete list, click here.

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Done deal: Spectrum completes purchase of SWK group

BY HBSDEALER Staff

Spectrum Brands Holdings, a global consumer products company, said it completed the acquisition of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker, Inc. for $1.4 billion in cash. 

The agreement was first announced back on Oct. 9.

HHI is a major manufacturer and supplier of residential locksets, residential builders’ hardware and faucets with leading positions in key North American markets and a portfolio of renowned brands, including Kwikset, Weiser, Baldwin, National Hardware, Stanley, Fanal, Pfister and EZSet. 

HHI is a leader in its key markets with leading positions in U.S. residential locksets (Kwikset), Canada residential locksets (Weiser), U.S. luxury locksets (Baldwin), and U.S. builders’ hardware (Stanley/National Hardware), and a top 5 position in U.S. faucets (Pfister).

“We are pleased to have closed on our HHI acquisition, and with attractive debt financing, before the end of 2012, as we had originally anticipated,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “HHI brings us scale and greater product diversity, more balance in our sales profile, stronger relationships with core retail partners, attractive cross-selling opportunities in all channels, and a new platform for significant future global growth using Spectrum Brands’ existing international infrastructure, most notably in Europe.”

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Lighting Science names new CEO

BY Ken Clark

Satellite Beach, Fla.-based Lighting Science Group Corp. named Jeremy Cage as CEO, effective Jan. 2. 

Cage replaces Brad Knight, who served as interim CEO while the board worked with an executive search firm, and who will continue to serve as COO of the company that designs, develops, manufactures and markets LED lighting solutions.

Cage was selected to lead the company based on his experience in building major brands, his success in developing commercially appealing technologies and bringing them to market, as well as his distinguished track record of strengthening business models and improving operational efficiencies.  

“We are delighted to have Jeremy join the Lighting Science team,” said Nic Brathwaite, chairman of the Lighting Science board of directors. “Jeremy is a proven strategic thinker, inspiring leader and brand builder, who has successfully introduced major innovations at some of the world’s best-known companies, resulting in accelerated sales volume, profit and market share growth. We are confident that he will do the same at Lighting Science.” 

Over the past decade, Cage served in key executive positions at PepsiCo, including senior VP innovation and insights for its U.S. Beverage business, chief marketing officer of International Foods, and, most recently, senior VP of the Global Snacks Group, where he was responsible for developing breakthrough strategies, brand plans and innovation programs for the beverage giant. While heading up innovation for its U.S. beverages unit, Cage implemented a new innovation approach that yielded many breakthroughs, including the company’s industry-leading Dream Machine Recycling program.

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