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February 20, 2023 / 2023 Power 50

2023 Power 50: 8. Donald Allan Jr.

Don Allan is one of those rare Connecticut corporate CEOs with strong ties to the state. 

Last year, Allan was named president and CEO of New Britain tool-making giant Stanley Black & Decker, replacing Jim Loree. 

Allan is a familiar name within the company and Greater Hartford. He joined Stanley in 1999 and worked his way up the corporate ladder, eventually to president and chief financial officer before being named CEO. 

The University of Hartford graduate also previously held financial management positions with Loctite Corp. and spent nine years at Ernst & Young. 

Allan has also been active locally, having been a past board chair of the United Way of Central and Northeastern Connecticut.

His time so far in the corner office hasn’t been easy. Not even a full month into his new role, Allan in July announced Stanley Black & Decker — which has been significantly impacted by supply chain disruptions, inflation and slower demand, among other economic headwinds — was planning to implement a significant cost-cutting initiative that would trim expenses by up to $200 million by the end of 2022, $1 billion by the end of 2023 and $2 billion within three years.

Part of the cost cuts involved companywide layoffs, including in Connecticut. Stanley also confirmed that it closed its downtown Hartford innovation center. 

Prior to becoming CEO, Allan shared responsibility for Stanley’s global operations and supply chain.

Find out who else is in the 2023 Power 50.

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