Edward McGreen has been promoted to CEO at Kreg Tool, the company announced recently.

McGreen, who had served as the company’s chief financial officer, succeeds Todd Sommerfeld effective immediately, the Ankeny-based company announced in a release.

Sommerfeld will continue as chairman of the company’s board of directors.

McGreen joined Kreg in September 2022 after serving as president at MidAmerican Energy Services. Before that, he was vice president of strategic planning at MidAmerican Energy Services.

McGreen thanked Sommerfeld for his leadership at Kreg, saying he led the company through the relocation of its headquarters from Huxley to Ankeny and navigated the challenges it faced during the pandemic, including supply chain disruptions, staffing shortages and inflation.

“He has been a champion of Kreg’s culture and purpose and what that means from a past, present, and future view and I’m excited to carry on his vision,” he said in the release.

Sommerfeld has been part of the company since it began in 1989, and officially joined the company as general manager in 1999. He later served as president and CEO and transitioned to executive chairman in 2015 and then back to CEO in 2019.

Kreg Tool Co. creates products for woodworkers and do-it-yourself consumers.

Sommerfeld said he’s excited for the company’s future under McGreen’s leadership.

“Since his arrival, he has played a valuable role in helping to build and shape our strategy, while placing Kreg’s culture and values at the forefront of our organization,’ Sommerfeld said in the release.

With McGreen’s move from CFO to CEO, Carrie Trenkamp will move into the CFO position. She has worked at Kreg as director of financial planning and analysis since 2021. Before joining Kreg, she worked at Deere & Co.