Grainger's CEO Adds Chairman Title
The company's board of directors has named CEO DG Macpherson to assume the additional role of chairman of the board effective Oct. 1, 2017.
Stu Levenick, lead director of the board for Grainger, announced Aug. 2 that upon the retirement of Jim Ryan, the board's chairman, the company's board of directors has named CEO DG Macpherson to assume the additional role of chairman of the board effective Oct. 1, 2017. Macpherson's appointment to chairman is part of the succession plan highlighted in August 2016, when Macpherson was named CEO.
"We thank Jim for his nearly 37 years of service with Grainger, including eight years as CEO," said Levenick. "Jim's leadership established an industry foothold in IT and e-commerce capabilities, as well as the development of an industry-leading supply chain all with a commitment to helping teammates prosper. Under Jim's leadership, the company consistently delivered top quartile shareholder return and industry-leading market share growth. His unsurpassed industry knowledge and passion for Grainger served the company remarkably well during his tenure as CEO and chairman. We now welcome DG to the chairman's seat. We are confident in his ability to lead this board, especially during this time of great opportunity for the company."
"I am thankful to those I've worked with and had the privilege of serving during my career," said Ryan. "I look forward to seeing Grainger continue to evolve and prosper under DG's leadership. He is a talented leader who is focused on doing what's best for our customers, team members, the business, and its stakeholders."
Macpherson joined Grainger in 2008 after working on behalf of Grainger for six years as a partner and managing director at Boston Consulting Group. Since he joined Grainger, his accomplishments include overseeing the launch of its U.S. single channel business, Zoro; building the company's supply chain capabilities globally and realigning the U.S. business to create greater value for customers of all sizes, according to the company's announcement.
"It's a privilege to serve as Grainger's CEO and now as board chairman, as well," he said. "I appreciate the support and vote of confidence from Jim and the board. I am excited about the future of Grainger; I think we are focused on the right initiatives to best serve our customers and create greater value for all of our stakeholders in the process."