By Will Feuer

Sherwin-Williams Chief Executive John Morikis will step down from his role at the start of next year and will be succeeded by Chief Operating Officer Heidi Petz.

Morikis, who has been CEO since 2016, will remain chairman of the paint-and-coatings maker.

Petz, 48, joined Sherwin-Williams in 2017 after the company bought Valspar for more than $9 billion, a deal that bolstered the company's access to big-box retailers like Lowe's. Before taking over as COO, she led Sherwin-Williams' Americas business. Before that, she helmed the consumer-brands business. Petz previously held roles at Target, Newell Rubbermaid and PriceWaterhouseCoopers.

Morikis, who started with Sherwin-Williams in 1984, said the transition follows years of succession planning.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

October 11, 2023 08:01 ET (12:01 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Sherwin Williams (NYSE:SHW)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024 Click aqui para mais gráficos Sherwin Williams.
Sherwin Williams (NYSE:SHW)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024 Click aqui para mais gráficos Sherwin Williams.