Snap-on Inc., a tool manufacturer, announced Tuesday the promotion of Nicholas T. Pinchuk to president and COO of the company, succeeding Jack Michaels, Snap-on’s chairman and CEO, who also held the title of president. Pinchuk was the senior vice president and president of Snap-on’s Worldwide Commercial and Industrial Group.
Pinchuk has also been appointed to Snap-On's board, expanding it to eleven directors, nine of whom are independent.
“Nick has a solid record of accomplishment both here at Snap-on and in his previous roles. He also has a clear understanding of our goals as well as our strategies to achieve them. I look forward to working with Nick as our new chief operating officer to further hone these strategies and reach new levels of growth and profitability,” said Michaels.
Pinchuk has served as senior vice president and president of Snap-on’s Worldwide Commercial and Industrial Group since June 2002. Prior to joining Snap-on, Mr. Pinchuk served in several executive operational and financial management positions at United Technologies Corp., including president, Global Refrigeration Operations of its Carrier Corp. unit and president of Carrier’s Asia-Pacific Operations. Before Carrier, he held various financial and engineering positions at the Ford Motor Co.
Snap-on is a $2.5 billion, S&P 500 company headquartered in Kenosha, Wis.