We have accomplished a great deal together over the last eleven years in executing our Enterprise Strategy to leverage the powerful set of strategic, operational, and cultural practices that comprise the ITW Business Model to their full potential. As a result, our company has never performed better or been better positioned for the future. The central focus of the next phase of our Enterprise Strategy is to elevate high-quality organic growth and Customer-Back Innovation as key ITW differentiators on par with our best-in-class operational capabilities and financial performance. Our leadership team and I are deeply committed to doing just that in delivering on ITW's 2030 enterprise performance goals." Mr. O'Herlihy, 59, has been with ITW for over 34 years and will become the eighth CEO in ITW's 112-year history. He was named Executive Vice President of the company's Food Equipment Group in 2010 and elected Vice Chairman in 2015. He serves on the Board of Directors of Masco Corporation. Mr.