CEO Lyle Heidemann to retire from True Value

True Value has announced the retirement of president and CEO Lyle Heidemann, effective May 31. John Hartmann has been appointed as the company’s new president and CEO, following the retirement of Heidemann. Heidemann will continue to serve True Value through the end of 2013 as an adviser.

"As I reflect on the past eight years with True Value, I would like to thank two significant groups of people that have made these years personally rewarding for me: our True Value associates and our True Value retailers," said Heidemann. "I leave feeling confident in the future of True Value. John is an exceptional leader with strong strategic thinking skills, tremendous financial acumen and a true passion for the entrepreneurial spirit. He and our True Value associates and retailers will have continued success."

Hartmann has more than 15 years of corporate experience, including 11 years in the home improvement/hardware retail sector. He served as CEO of Mitre 10, a New Zealand-based hardware cooperative, and spent eight years at Home Depot and HD Supply in a variety of roles, including long-range planning, strategic business development, operations and sourcing. He finished his tenure as chief operating officer of the electrical and plumbing/HVAC divisions.

Hartmann holds a Bachelor of Science degree from Rochester Institute of Technology and a JD from Syracuse University College of Law.

"The True Value board conducted an extensive search process to choose the ideal person to succeed Lyle," said Brent Burger, chairman of the board for True Value. "John was our unanimous choice. He has a deep understanding of consumer expectations, product distribution and the competitive landscape, and equally important, he has a clear understanding -- with first-hand experience -- of the hardware co-op environment."