Valspar Corp. has announced that the company’s current president and chief operating officer, Gary E. Hendrickson, will succeed William L. Mansfield as CEO, effective June 1.
Mansfield, who has served as Valspar’s CEO since 2005, said Hendrickson's appointment is the result of the company board of directors’ long-standing succession plan. Mansfield will remain chairman of the board.
“Gary and I have worked closely together in developing Valspar’s long-term strategy for growth,” Mansfield said. “His exceptional record of success as president and chief operating officer, extensive international experience, and in-depth knowledge of the global coatings industry make him an outstanding choice for CEO.”
Hendrickson has been Valspar’s president and COO since February 2008. He joined Valspar’s packaging-coatings business in 1994 after serving 11 years in the U.S. Navy, where he rose to the rank of Lieutenant Commander.
After four years with the packaging-coatings business, Hendrickson moved to Australia to lead Valspar’s Asia Pacific business. In 2001, he relocated to Hong Kong and was named an officer of the company. In 2004, Hendrickson was named group vice president, Global Wood Coatings while remaining president, Valspar Asia Pacific.
In 2005, Hendrickson was named senior vice president and assumed additional responsibility for Valspar's Consumer business.
Hendrickson has a bachelor's degree from the University of Connecticut and an MBA from Harvard University.