Stanley Black & Decker, Inc. announced that on April 11, 2024, Irving Tan informed the board of directors of Stanley Black & Decker, Inc. of his decision not to stand for re-election as a director of the Company at the Company?s 2024 annual meeting of shareholders. Mr. Tan has recently been named the forthcoming Chief Executive Officer of Western Digital Corp., the standalone hard disk drives business that will exist following Western Digital Corp.?s separation of its hard disk drives and flash-based products businesses. Mr. Tan will continue to serve on the Board until the time of the 2024 Annual Meeting.

Mr. Tan?s decision to depart from the Board is in response to Western Digital Corp.?s request that he focus his attention on his new Chief Executive Officer role and did not involve any disagreements with the Company regarding any matter related to its operations, policies or practices. The Board intends to reduce the size of the Board to nine members following the departure of Mr. Tan.