Milwaukee Tool‘s Senior Group President has been called up to helm its Hong Kong-based parent company Techtronic Industries Co.

On May 20, Techtronic Industries’ Joseph Galli Jr. resigned as Executive Director and CEO to focus on “family and personal interests” after 16 years in the role and 18 years at the company. A day later, power tool industry veteran and Senior Group President of the company’s flagship Milwaukee Tool business Steven Richman, 64, succeeded Galli.

“After 18 years in playing a pivotal role in transforming Techtronic into a global powerhouse for both professional and consumer power tools, I have made the extremely difficult decision to retire,” Galli said in an announcement in May. “I feel like this is the perfect time for me to move on, the business is flourishing and the team is outstanding.”

Richman was appointed President of Milwaukee Tool in 2007. He had served in that role for over 17 years until his recent promotion in January to the role of Senior Group President.

His responsibilities have encompassed every facet of Milwaukee Tool’s business, including overseeing global product development, manufacturing operations, and sales and marketing. During his tenture, the tool maker has logged double digit compounded annual growth in revenue over the last decade.

Richman is a veteran of the power tool and outdoor power equipment industry with over 35 years in the management of industrial, electrical, plumbing and retail distribution operations. He has also held management positions with Black & Decker and Bosch Power Tools.

Responsibilities of Richman’s previous role have been re-distributed throughout the executive management team (see list in Milwaukee Tool LinkedIn post below) who will continue to report to Richman.