Lincoln Electric Promotes COO Steven Hedlund To Succeed Christopher Mapes As President And CEO

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) announced Thursday that Christopher Mapes, Chairman, President and Chief Executive Officer (CEO), who has served as President and CEO since 2012, will retire as President and CEO on December 31, 2023, and will be designated as Executive Chairman of the Board, effective January 1, 2024.

Steven Hedlund, who has been with the Company for 15 years and serves as Chief Operating Officer, will be named President and CEO, and appointed as a member of the Board, effective January 1, 2024.

As Executive Chairman, Mapes will work closely with Hedlund to ensure a seamless transition for all Lincoln Electric stakeholders and support the Company's Higher Standard 2025 Strategy initiatives.

Mapes has achieved a distinguished 38-year career in global manufacturing and joined Lincoln Electric in 2010 as a member of the Board of Directors and was named President and CEO in 2012. He has served as Chairman, President and CEO since 2013.

Hedlund joined Lincoln Electric in 2008 as Vice President, Strategy and Business Development and a member of the executive leadership team. In 2015, he was promoted to Senior Vice President, President of Global Automation. In 2017, he served as Executive Vice President, President of International Welding.

In 2020, Hedlund was named Executive Vice President, President of Americas and International Welding, to further align the Company's global welding technologies and strategies. In 2022, Hedlund was promoted to Chief Operating Officer, where he has been leading our record performance. Prior to joining Lincoln Electric, Hedlund held various executive leadership roles at Fortune Brands, Inc. and served as principal with the management consulting firm, Booz Allen & Hamilton.