B&D; Picks Emhart’s Scott as Chairman
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Peter L. Scott, chairman, president and chief executive of Emhart Corp., has been named chairman of Black & Decker Corp., which completed a tender offer for Emhart last Friday.
Nolan D. Archibald will continue as president and chief executive of Black & Decker. Achim Knust, Emhart’s executive vice president and chief financial officer, will hold the same positions at Black & Decker, the power tool maker said.
Three other executive vice presidents will be Raymond A. DeVita of Emhart and Dennis G. Heiner and George M. Sherman, both already with Black & Decker.
“As a team, they combine the best of Black & Decker and the best of Emhart,” Archibald said. “The expertise of these leaders and the continuity of their leadership not only will help ensure a smooth transition as we combine the two companies, but also will provide a competitive advantage in our businesses.”
Emhart, of Hartford, Conn., agreed to be acquired by Black & Decker, which is based in the Baltimore suburb of Towson, Md., for $2.8 billion.
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