MINNEAPOLIS - The Valspar Corp. Board of Directors announced that Gary E. Hendrickson, currently Valspar’s President and Chief Operating Officer, will succeed William L. Mansfield as Chief Executive Officer, effective June 1, 2011. Mansfield, who has served as CEO since 2005, will continue as Chairman of the Board.

Hendrickson has served as President and Chief Operating Officer since February 2008. He joined Valspar’s Packaging business in 1994 after serving 11 years in the U.S. Navy, where he rose to the rank of Lieutenant Commander. In 1998, Hendrickson moved to Australia to lead the company’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, in addition to his role as President, Valspar Asia Pacific. In 2005, Hendrickson was named Senior Vice President and assumed additional responsibility for Valspar’s Consumer business.