LINCOLNSHIRE, IL — Klein Tools, for professionals since 1857, announced Wednesday that Mathias Klein III (Mat) will retire as chairman of the board in June, 2015 but will continue to serve on the company’s board of directors.
This caps a 46-year career with Klein Tools in which Mat helped transform the company into an innovative manufacturer producing the highest quality hand tools for professional tradesmen in the U.S. and around the world. Upon Mat’s retirement, current president Thomas R. Klein Sr. (Tom) will succeed him as chairman. Additionally, Mark Klein, vice president of domestic sales, and Thomas Klein Jr. (Tom Jr.), general manager of heavy infrastructure, will be promoted and serve as co-presidents of Klein Tools effective January 1, 2015.
“Mat will be long remembered for his steadfast commitment to the company,” Thomas R. Klein Sr. said. “With his leadership and vision, Klein Tools is in a better position today than when he started years ago.”
“Under Tom’s leadership as president, Klein Tools not only survived the recession, it emerged stronger and became the undisputed leader in the hand tool industry,” stated Mathias Klein III, chairman of Klein Tools. “His compelling vision ultimately drove Klein to become the world-class manufacturer and new product development machine that it is today. In his new role as chairman, Tom will be in a position to continue to help drive Klein Tools into the future.”
During Tom’s tenure as president since 2006, Klein Tools’ manufacturing has moved forward with major investments, including the new Advanced Manufacturing Technology Center and heat treat facilities in Mansfield, Texas. The new product development process has been transformed and is achieving industry-leading results, with major portions of the company’s growth tied to new product introductions.
Also under his leadership, the company has achieved significant growth through its focused efforts on international sales and acquisitions in Australia, Mexico and Brazil. In addition, the company has grown with the domestic acquisition of Heritage Cutlery (now Klein Cutlery) and Klein’s joint venture investment with UEI.
As chairman, Tom will retain responsibility for finance, legal, corporate development and human resources. As Tom ascends to chairman, Mark Klein will assume the new role of president of sales and marketing and will be responsible for global marketing, sales and customer service. He will also manage the company’s cutlery division in New York, Klein Cutlery and Klein Tools de Mexico affiliates. Thomas Klein Jr., (Tom Jr.) will assume a new role as president of operations and research and development. Tom Jr. will be responsible for Klein Tools’ manufacturing, operations and new product development functions. He will also manage two of the company’s international affiliates, Civitella & Cia in Brazil and Mumme Tools in Australia.
For more information, visit Klein Tools' website here.