Sherwin-Williams' John Morikis to step down as executive chairman

Reuters11-15

Nov 14 (Reuters) - Paint company Sherwin-Williams

said on Thursday Executive Chairman John Morikis will step down, effective Dec. 31, and CEO Heidi Petz will assume the additional role as chair of the board.

Earlier this year, insider Petz took the helm at the company, taking over from Morikis, who was in the CEO role since 2016.

Petz joined Sherwin-Williams with the acquisition of the Valspar Corporation in 2017.

Morikis will continue to be a member of the company's board until his retirement in April, the company said.

(Reporting by Tanay Dhumal in Bengaluru; Editing by Shailesh Kuber)

((Tanay.Dhumal@thomsonreuters.com; Twitter: ))

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Earlier this year, insider Petz took the helm at the company, taking over from Morikis, who was in the CEO role since 2016.   Petz joined Sherwin-Williams with the acquisition of the Valspar Corporation in 2017.   Morikis will continue to be a member of the company's board until his retirement in April, the company said. 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Morikis will continue to be a member of the company's board until his retirement in April, the company said. 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