The Sherwin-Williams Company announced that John G. Morikis will retire as executive chairman effective December 31, 2024, after a 40-year tenure with the company. Morikis will remain on the board of directors until the end of his current term at the 2025 annual meeting of shareholders in April.

The board has elected Heidi G. Petz to assume the role of chair effective January 1, 2025. Petz has served as president and chief executive officer since January 1, 2024.

“My deep and sincere thanks go to John for his exceptional leadership, dedication and vision over his distinguished career with Sherwin-Williams,” Petz said. “John's passion for driving the success of our customers and employees resulted in strong and sustained performance throughout his tenure. He leaves us with a tremendous foundation for continued growth. We wish him all the best in his well-deserved retirement.”

Petz joined Sherwin-Williams through its acquisition of The Valspar Corporation in 2017. Since then, she has held several leadership roles, including president of the Consumer Brands Group, president of The Americas Group and president and chief operating officer before assuming her current position.

“This announcement is the result of a defined and thoughtful leadership transition process for the company and the board,” said Jeff M. Fettig, lead director. “The board believes this leadership structure, with Heidi serving as both CEO and chair, provides unified leadership and focus. Heidi’s broad business experience and her success in various key positions make her well suited for this role.

“On behalf of the board, shareholders, customers, employees and other stakeholders, I thank John for his four decades of extraordinary service to Sherwin-Williams. His decisive leadership and strategic direction drove consistently strong results for the company. John leaves us positioned exceedingly well for the future and we wish him a happy and healthy retirement,” Fettig said.