Lincoln Electric Announced Chairman, President and Chief Executive Officer Christopher L. Mapes Will Retire as President and CEO on December 31, 2023, Will Be Designated Executive Chairman of the Board, Effective January 1, 2024
Portfolio Pulse from Benzinga Newsdesk
Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced that its Chairman, President and CEO, Christopher L. Mapes, will retire as President and CEO on December 31, 2023, and will become Executive Chairman of the Board from January 1, 2024. Steven B. Hedlund, the current COO, will take over as President and CEO, and will also join the Board from January 1, 2024.
July 27, 2023 | 11:34 am
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NEUTRAL IMPACT
The announced retirement of CEO Christopher L. Mapes and the appointment of Steven B. Hedlund as the new CEO could potentially impact the company's stock in the short term.
CEO changes can often lead to uncertainty among investors, potentially impacting the stock price. However, the company has planned for a smooth transition, which may mitigate any negative impact.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100