Illinois Tool Works Inc.

05/22/2026 | Press release | Distributed by Public on 05/22/2026 14:03

Management Change/Compensation (Form 8-K)

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 19, 2026, Randall J. Scheuneman, Vice President & Chief Accounting Officer and Principal Accounting Officer of Illinois Tool Works Inc. (the "Company") notified the Company that he will retire from the Company effective March 1, 2027 and that he will be stepping down from his current role effective June 30, 2026. Mr. Scheuneman will remain with the Company as an advisor through March 1, 2027. Mr. Scheuneman's planned retirement is not due to any disagreement with the Company on any matter relating to the Company's financial statements, internal control over financial reporting, operations, policies or practices.
In conjunction with this transition and consistent with our long-term succession planning, Matteo C. Pigozzo, age 55, will succeed Mr. Scheuneman as the Company's Vice President & Chief Accounting Officer and Principal Accounting Officer, effective July 1, 2026. Since joining the Company in 2006 as Director of Financial Reporting, Mr. Pigozzo has held progressively senior accounting and finance roles over the past 20 years, most recently serving as Vice President & Corporate Controller. Before joining the Company, Mr. Pigozzo began his career with Deloitte & Touche LLP and was an auditor in the assurance practice for 11 years.
There were no material changes to Mr. Pigozzo's compensation arrangements relating to this appointment and he was not selected pursuant to any arrangement or understanding between him and any other person. Mr. Pigozzo has no familial relationship with any director or executive officer of the Company, and there are no transactions between Mr. Pigozzo and the Company that would require disclosure under Item 404(a) of Regulation S-K.
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