ILLINOIS TOOL WORKS INC 8-K

What Happened
Illinois Tool Works Inc. filed a Form 8‑K (Item 5.02) on May 22, 2026, announcing that Randall J. Scheuneman, Vice President & Chief Accounting Officer and Principal Accounting Officer, will step down from his role on June 30, 2026 and retire effective March 1, 2027. Mr. Scheuneman will remain with the company as an advisor through his retirement date. Matteo C. Pigozzo, currently Vice President & Corporate Controller, will succeed him as Vice President & Chief Accounting Officer and Principal Accounting Officer effective July 1, 2026.

Key Details

• Randall J. Scheuneman notified the company of his retirement on May 19, 2026; stepping down June 30, 2026 and retiring March 1, 2027.
• Matteo C. Pigozzo (age 55) becomes Chief Accounting Officer effective July 1, 2026; he joined ITW in 2006 and was most recently VP & Corporate Controller.
• Pigozzo began his career at Deloitte & Touche LLP and worked 11 years in the assurance practice before joining ITW.
• The filing states there were no material changes to Pigozzo’s compensation, no family relationships with executives or directors, and no related‑party transactions requiring disclosure. The company also noted Scheuneman’s retirement is not due to any disagreement over accounting, controls, operations, policies or practices.

Why It Matters
This is a planned, orderly leadership transition in ITW’s finance organization that names an internal successor with long tenure at the company and audit experience. For investors, the filing signals continuity in the company’s accounting and reporting oversight (the Principal Accounting Officer role) and confirms there are no disclosed disputes or related‑party concerns tied to the change. The timing—successor in place July 1, 2026, with the outgoing officer advising through March 1, 2027—supports a structured handover of responsibilities.