PUBLIC COMPANY; YEAR ESTABLISHED: 1866
REVENUE: $12.1 billion s (2017: $11.5 billion)
(Note: Sherwin-Williams reported total revenue of $17.53 billon for fiscal 2018. However, for purposes of this report, sales of painting tools and equipment are not reported as part of coatings revenue. The above is Coatings World’s estimate.)
Architectural coatings; Industrial coatings; Protective and marine coatings; OEM product finishes; Wood finishes; Aerospace coatings
John Morikis, chairman and CEO; David B. Sewell, president and COO; Allen J. Mistysyn, senior VP – finance and CFO; Mary Garceau, senior VP, general counsel and secretary; Jane Cronin, corporate controller.
The Sherwin-Williams Company reported $17.53 billion in net sales for 2018. Minus the sale of painting tools and equipment, Coatings World estimates the company’s paint and coatings sales to be approximately $12.1 billion.
Sherwin-Williams manufactures products under well-known brands such as Sherwin-Williams, Valspar, Dutch Boy, HGTV HOME by Sherwin-Williams, Krylon, Minwax, Cabot, Thompson’s Water Seal and more. With global headquarters in Cleveland, Ohio, Sherwin-Williams branded products are sold primarily through more than 5,100 company-operated stores and facilities, while the Company’s other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers and industrial distributors.
The company is comprised of three reportable segments. The Americas Group comprises 55 percent of total sales and operates the exclusive outlets for Sherwin-Williams branded paints, stains, supplies, equipment and floor covering in the U.S., Canada and the Caribbean. The Americas Group also manufactures and sells a wide range of architectural paint, industrial coatings and related products across Latin America through company-operated stores and dedicated dealers. Consumer Brands Group comprises 16 percent of total sales and sells one of the industry’s most recognized portfolios of branded and private-label products through retailers across North America and in parts of Europe, Australia, New Zealand and China, and also operates a highly efficient global supply chain for paint, coatings and related products.
Performance Coatings Group comprises 29 percent of total sales and sells a wide range of industrial coatings and finishes to general industrial, industrial wood, protective and marine, coil & extrusion, packaging and automotive customers in more than 120 countries.
In the company’s annual report CEO John Morikis reported that Sherwin-Williams delivered record performance across many measures in 2018, including sales, earnings before interest, taxes, depreciation and amortization (EBITDA), and net operating cash. “Our success stems from our continued focus on innovative products and services to help our customers improve their productivity, profitability and projects.
The company’s Board of Directors recently elected David B. Sewell to serve as president and chief operating officer.
Sewell has served as Sherwin-Williams’ president, Performance Coatings Group, since August 2014. Sewell will report to John G. Morikis, who will continue as chairman and CEO.
Sewell has held numerous key leadership positions since joining Sherwin-Williams in February 2007. He previously served as president and GM, Product Finishes Division, Global Finishes Group from July 2012 to August 2014. Sewell joined Sherwin-Williams after spending 15 years at General Electric Company.
In his new role, Sewell will be responsible for all of Sherwin-Williams’ operating segments, which includes The Americas Group, the Performance Coatings Group and the Consumer Brands Group.
“David has served as an important member of our senior leadership team for many years and is ideally suited to lead our global operations based on his deep industry knowledge and commitment to operational excellence and delivering value to our customers,” Morikis said. “David’s leadership capabilities and long record of consistently delivering strong results will help Sherwin-Williams continue focusing on our long-term objectives with the goal of creating exceptional value for all of our stakeholders.”
Sherwin-Williams also announced that the Board has elected Aaron M. Erter as president, Performance Coatings Group, succeeding Sewell, and Robert F. Lynch as president, Consumer Brands Group, succeeding Erter. Both positions are also effective March 1, 2019.
Erter joined Sherwin-Williams in June 2017 in connection with the Valspar acquisition. He has served as president, Consumer Brands Group since August 2017. Erter held the position of president and GM, Consumer Division, Consumer Brands Group from June 2017 to August 2017. Prior to joining Sherwin-Williams, Erter served as SVP of Valspar from December 2015 to June 2017 and VP and GM, North America of Valspar from November 2011 to December 2015.
Lynch has been employed with Sherwin-Williams since October 2000. He has served as president and GM, retail – North America, Consumer Brands Group since August 2017. Lynch held the position of SVP, sales, Automotive Finishes Division, Global Finishes Group from August 2012 to July 2017 and president and GM, Paint and Sundries, Diversified Brands Division, Consumer Group from November 2008 to August 2012.