8-KLeadership ChangesExhibits & Filings

W.W. GRAINGER, INC. 8-K Report, Executive Changes (Jan 12, 2021)

Filed January 12, 2021For Securities:GWW

Summary

W.W. Grainger, Inc. (GWW) has announced a key leadership change, appointing Deidra C. Merriwether as the new Senior Vice President and Chief Financial Officer, effective January 12, 2021. Ms. Merriwether's promotion to CFO marks a significant internal transition, as she has been a long-standing member of the Grainger team, holding various senior leadership roles since 2013, most recently as Senior Vice President and President of North American Sales & Services. This appointment replaces Robert F. O’Keef, Jr., who served as Interim CFO and will continue his contributions as Vice President and Treasurer. The company has indicated that Mr. O’Keef's departure from the interim CFO role is amicable and not due to any disputes. Investors should note the compensation package for Ms. Merriwether, which includes a base salary of $650,000, a target annual incentive bonus of 90% of her base salary, and a target annual equity grant of $1,250,000. Her extensive experience within Grainger, coupled with her external board membership at Weyerhaeuser Company, suggests a well-qualified candidate stepping into this critical financial role. The company has also filed an accompanying press release as an exhibit to this report.

Key Highlights

  • 1Deidra C. Merriwether appointed Senior Vice President and Chief Financial Officer, effective January 12, 2021.
  • 2Robert F. O’Keef, Jr. transitions from Interim CFO to Vice President and Treasurer.
  • 3The transition of Mr. O’Keef is not due to any disagreements.
  • 4Ms. Merriwether's compensation includes a $650,000 base salary, 90% target bonus, and $1,250,000 target annual equity grant.
  • 5Ms. Merriwether has held various senior finance and sales leadership roles at Grainger since 2013.
  • 6Ms. Merriwether serves on the board of directors for Weyerhaeuser Company.
  • 7The appointment was announced via a press release filed as Exhibit 99.1.

Frequently Asked Questions

Deidra C. Merriwether has been appointed as the new Senior Vice President and Chief Financial Officer of W.W. Grainger, effective January 12, 2021.

Ms. Merriwether will receive an annual base salary of $650,000, a target annual incentive bonus opportunity of 90% of her base salary, and a target annual equity grant opportunity of $1,250,000.

Robert F. O’Keef, Jr., who served as the Interim Chief Financial Officer, will continue in his role as Vice President and Treasurer. His transition is amicable and not due to any disagreements.

Yes, Ms. Merriwether has extensive experience within W.W. Grainger, holding several senior leadership positions in finance and sales since 2013, including her most recent role as Senior Vice President and President of North American Sales & Services.