Management ChangeMay 22, 2026, 04:08 PM
Illinois Tool Works Appoints Matteo Pigozzo as New CAO
AI Summary
Illinois Tool Works Inc. announced that Randall J. Scheuneman, Vice President & Chief Accounting Officer, will retire from the company effective March 1, 2027, and will step down from his current role on June 30, 2026. Matteo C. Pigozzo, currently Vice President & Corporate Controller, will succeed Mr. Scheuneman as Vice President & Chief Accounting Officer, effective July 1, 2026. This transition is part of the company's long-term succession planning.
Key Highlights
- Randall J. Scheuneman, VP & Chief Accounting Officer, will retire effective March 1, 2027.
- Mr. Scheuneman will step down from his current role effective June 30, 2026.
- Matteo C. Pigozzo, age 55, will succeed Mr. Scheuneman as VP & Chief Accounting Officer.
- Mr. Pigozzo's appointment is effective July 1, 2026.
- Mr. Pigozzo previously served as Vice President & Corporate Controller.
- Mr. Pigozzo joined Illinois Tool Works in 2006 as Director of Financial Reporting.
Price Impact
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