Industrial supplier Grainger names new VP and CFO

Grainger's board of directors on February 20 elected Ronald L. Jadin to the position of senior vice president and chief financial officer. His new responsibilities include financial planning and analysis, financial processes, financial reporting, internal audit, and treasury operations. He is replacing P. Ogden Loux, who was named vice chairman. Both gentlemen will report to Grainger chairman and chief executive officer Richard L. Keyser. The change will be effective March 1.

Jadin, 47, was previously vice president and controller for the company. He joined Grainger in 1998 as director of financial planning and analysis for the company. He also served as vice president of finance for Grainger Industrial Supply Division, where he was responsible for the financial planning and analysis of Grainger's U.S. branch-based business, with emphasis on its financial performance and related investment decisions. Prior to joining Grainger, he spent 15 years serving in financial analysis and management capacities within General Electric Company.

Jadin graduated with a bachelor of arts degree in economics from Yale University and earned his master's degree in business administration with a concentration in finance from the University of Wisconsin-Whitewater.

Loux, 65, was elected senior vice president of finance and chief financial officer in December 1996. Since 1987, when he joined Grainger, he served in a variety of financial roles including vice president and controller and vice president of business support. In his new position as vice chairman, he will provide the company with advice and support on a broad range of business initiatives.

Prior to joining Grainger, Loux had financial management responsibilities for three businesses within General Electric: a motor production operation, a specialty motor business, and a metallurgical business. He also held a number of positions at GE's headquarters and its power generation and engineered materials businesses, as well as in its corporate finance and administration staffs. In addition, he served as a member of General Electric's audit staff.

Loux graduated with a bachelor's degree from Drexel University in Philadelphia.

W.W. Grainger Inc., with 2007 sales of $6.4 billion, is the leading broad line supplier of facilities maintenance products serving businesses and institutions in Canada, China, Mexico and the United States.