TTI appoints new CEO as Galli retires
The board of directors of Techtronic Industries (TTI), the parent company of Milwaukee Tools, Ryobi, Hart, and others, announced that Joseph Galli Jr. has resigned as Executive Director and Chief Executive Officer effective May 20, 2024. The board also announced the appointment of Steven Richman as TTI’s Chief Executive Officer effective May 21, 2024.
“After 18 years in playing a pivotal role in transforming Techtronic into a global powerhouse for both professional and consumer power tools, I have made the extremely difficult decision to retire,” said Galli. “I feel like this is the perfect time for me to move on, the business is flourishing and the team is outstanding. This is all possible because of our incredible bench strength, some of which we have recently showcased. We have built an incredible team of the finest executives, capable of outperforming our competition, the likes of which I have never seen either inside or outside of our industry.”
Appointment of Chief Executive Officer
Richman, the company’s new CEO is 64 and was appointed as the president of the Milwaukee Tool business in 2007. He served in that role for more than 17 years. In that period, Milwaukee experienced double digit compounded annual growth in revenue. His responsibilities encompass every facet of Milwaukee Tool’s business, including overseeing global product development, manufacturing operations, and sales and marketing.
Before that, Richman held key management positions with Black & Decker and served as president of Skil and Bosch Power Tools for over five years respectively. He is a member of the board of directors of Traeger, Inc.
