Garry Ridge, longtime CEO of WD-40 Co. (NASDAQ: WDFC) is retiring on Aug. 31.
The company made the announcement on March 16. Steve Brass, president and COO of the company, has been tapped to succeed Ridge as CEO.
The leadership transition was planned, WD-40 said.
“I have worked with Steve for three decades and I am incredibly pleased that he will be the next chief executive officer of WD-40 Co.,” Ridge said. “Steve is a talented, collaborative leader with deep operational and global experience. His leadership, guidance and support of our tribe throughout the pandemic have been nothing short of phenomenal.”
“I’m humbled and excited to be asked to serve as the next chief executive officer of WD-40 Co.,” Brass said. “It’s a great honor to be able to serve this tribe and all our stakeholders. I also want to take this opportunity to thank Garry for his leadership in planning for this transition. He has set me up for success by ensuring I inherit a solid strategy for the company and an excellent team of senior leaders, many of whom I have worked with for decades who will continue to guide the company in its next phase of growth.”
Ridge, 65, joined the company in 1987 and was named president and CEO in 1997. He will remain chairman of the board until the annual meeting of stockholders on Dec. 23.
Brass, 56, joined the company in 1991. In connection with the transition, he was appointed to the board on March 15.
“As we continue to grow our business worldwide and leverage our incredible culture, now is the right time for this transition,” Ridge said. “I feel extremely fortunate to hand the reins over to this clear and capable leader who will guide the company in its next phase of growth.”