True Value said that its current chief commercial officer, Chris Kempa, has been promoted to CEO to replace John Hartmann, who had been chief executive since 2013.
The company also stated that CFO Deb O’Connor will become president and CFO.
Hartmann will transition his responsibilities in May and remain a director on the company’s board.
Before joining True Value, Kempa served as CEO and group president of ORS Medco. O’Connor was OfficeMax svp/integration and finance during that company’s merger with Office Depot.
Aron Schwartz, chairman of True Value ‘s board of managers, said, “Over the last seven years, John’s leadership has shaped the company, including the last two with us, where he was the visionary behind the transaction unlocking over $250 million of retailers’ equity. He was the leading advocate of investments the company has made in supply chain, technology, as well as a number of merchandising and marketing initiatives, to better serve True Value’s customers. As the company moves into this next phase of growth, we have a deep leadership bench, with Chris and Deb at the helm, to continue the important investments being made to support the growth and profitability of our retailers. Chris has a long track record of successfully leading businesses in this channel and has rapidly implemented and executed an integrated merchandising, sales and pricing go-to-market strategy at True Value. Deb has been with the company for five years and has been an instrumental leader in transforming the business and accelerating investments to further support all independent hardware retailers.”