Chris O’Herlihy has been appointed chief executive and president of US-listed manufacturer Illinois Tool Works
Filings with the US Securities and Exchange Commission suggest Mr O’Herlihy is in line for a substantial pay rise following his promotion. The group’s current chief executive, Ernest Scott Santi, was paid a base salary of $1.4 million in 2021, but took home a total of $4.3 million after bonuses. Mr O’Herlihy was paid a base salary of $858,934 and took home $1.7 million.
It is a Fortune 200 company that generated revenue of $15.9 billion in 2022. It employs about 46,000 people around the world. Mr Santi, ITW’s chief executive since 2012, will step down from his position but will remain chairman of the ITW board until March 1st, at which time he will become non-executive chairman.
“Chris is an exceptional leader with deep knowledge of our business model, our enterprise strategy, and our culture. He has been an invaluable partner and collaborator over the past 11 years.
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