Chairman & CEO Message

At Snap-on we’re powered by advantage – in product, in brand, in people – as we solve the most critical of tasks.  And, we’re enabled by improvement authored – by kaizen, by technology, by training – as we rise to the possibilities of our future.

Snap-on is rooted in the critical.  We make work easier, offering solutions for essential tasks where the penalties for failure are high.  We connect with our customers, working men and women, developing further advantages in our products, meeting the needs of rapidly changing workplaces.  And, we enable the makers and fixers who perform day in and day out to move the world forward.

Since our founding in 1920, our principal value-creating mechanism has been to observe work and translate the insights gained into creative solutions.  Opportunities to leverage this approach, both within and beyond vehicle repair, are embodied in our runways for growth: enhance the franchise network; expand with repair shop owners and managers; extend to critical industries, and build in emerging markets.  We continue to invest in each of these strategically decisive areas, positioning Snap on for ongoing growth, increasing profitability, and rising prosperity in the times ahead.

Through our Snap-on Value Creation Processes, a suite of principles we use every day, we remain committed to the areas of safety, quality, customer connection, innovation, and rapid continuous improvement (RCI).  Since it was established in 2005, Snap-on’s RCI framework, a structured set of tools used across the company to eliminate waste and improve operations, has contributed significantly in advancing our operating margin.  Over these last 18 years, our operating margin before financial services has improved by a total of 1,550 basis points, or approximately 85 basis points, on average, per year.

We expect to make continued progress along our runways for both growth and improvement.  We will wield the power of our advantages in our products, our brands, and our people…driving growth across our operations…we will leverage our Snap-on Value Creation Processes, creating productivity and efficiency…pursuing the balanced approach that has served us well in a variety of environments.  At the same time, we will maintain our responsibility to our communities by pursuing gains in the environmental, social, and governance areas.  We will remain deeply dedicated to honoring and celebrating the dignity of work, providing the innovative products necessary to solve critical tasks.  And, we will endeavor to maintain the Snap-on brand as the visible sign of the pride working people take in their essential efforts that move our society onwards.  As we turn to the possibilities of our future, I thank our franchisees and associates around the world for their contributions and dedication, and our customers and shareholders for their confidence and commitment.

Nicholas T. Pinchuk
Chairman and Chief Executive Officer
Snap-on Incorporated