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Get filing alertsITW Chief Accounting Officer Scheuneman to retire; 20-year veteran Pigozzo promoted
Filed May 22, 2026 · Period ending May 19, 2026 · ~1 min read
Key Changes
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Chief Accounting Officer Randall Scheuneman will retire March 2027, stepping down from his current role June 30, 2026. The filing confirms this is not due to any disagreement with the company.
Item 5.02 verify on EDGAR → -
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Matteo Pigozzo, 55, promoted to Vice President & Chief Accounting Officer effective July 1, 2026. He has 20 years with ITW in accounting and finance roles, plus 11 years as auditor at Deloitte.
Item 5.02 verify on EDGAR →
Summary
Illinois Tool Works disclosed a planned leadership transition in its accounting function. Chief Accounting Officer Randall Scheuneman announced his retirement, effective March 2027, and will step down from his current role at the end of June 2026. The company emphasized this is part of long-term succession planning and not related to any disagreement.
Matteo Pigozzo, currently Vice President & Corporate Controller, will take over as Chief Accounting Officer on July 1, 2026. With two decades at ITW and prior Big Four audit experience, Pigozzo represents internal continuity. For retail investors, this is a routine executive transition with minimal expected impact on operations or financial reporting. Watch for Pigozzo's first quarterly earnings filing in his new role to confirm a smooth handoff.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
On May 19, 2026, Randall J. Scheuneman, Vice President & Chief Accounting Officer and Principal Accounting Officer of Illinois Tool Works Inc. (the “Company”) notified the Company that he will retire from the Company effective March 1, 2027 and that he will be stepping down from his current role effective June 30, 2026.
The company's Chief Accounting Officer announced his retirement. He will step down from his current role on June 30, 2026 but remain as an advisor until his full retirement on March 1, 2027. The filing explicitly states this is not due to any disagreement with the company.
Added in current filing · verify on EDGAR →
In conjunction with this transition and consistent with our long-term succession planning, Matteo C. Pigozzo, age 55, will succeed Mr. Scheuneman as the Company’s Vice President & Chief Accounting Officer and Principal Accounting Officer, effective July 1, 2026.
Matteo Pigozzo, currently Vice President & Corporate Controller, will become the new Chief Accounting Officer effective July 1, 2026. He has been with the company for 20 years in progressively senior accounting and finance roles since 2006, and previously spent 11 years as an auditor at Deloitte & Touche LLP.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 25, 2026 · How we verify