ITW Announces CEO Succession Plan - Seite 3

Mr. O’Herlihy, 59, has been with ITW for over 34 years and will become the eighth CEO in ITW’s 112-year history. He was named Executive Vice President of the company’s Food Equipment Group in 2010 and elected Vice Chairman in 2015. He serves on the Board of Directors of Masco Corporation. Mr. O’Herlihy has a bachelor’s degree in science from the University College Cork, Ireland, and a master’s degree in science from the University of Massachusetts.

Mr. Santi’s retirement from active service in early 2024 will mark the culmination of a 41-year career with the company, having first joined ITW as a summer intern in 1982. He was elected CEO in 2012 and Chairman in 2015. During Mr. Santi’s tenure as ITW’s CEO to date, the company’s market capitalization has increased from $23 billion to $74 billion, and the company paid out $12 billion in dividends resulting in total shareholder value creation of $63 billion. During that time period, total shareholder returns were 431% vs. 336% for ITW’s proxy peer group and 282% for the S&P 500.

About Illinois Tool Works
ITW (NYSE: ITW) is a Fortune 200 global multi-industry manufacturing leader with revenue of $15.9 billion in 2022. The company’s seven industry-leading segments leverage the unique ITW Business Model to drive solid growth with best-in-class margins and returns in markets where highly innovative, customer-focused solutions are required. ITW’s approximately 46,000 dedicated colleagues around the world thrive in the company’s decentralized and entrepreneurial culture. www.itw.com

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