The company came to existence as a direct result of the 1920 merger of Stanley's Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company, founded by Frederick's cousin, Henry Stanley, in 1857. During World War II, Stanley Works received the Army-Navy "E" Award for excellence in war production. In May 2002, the company considered moving its corporate headquarters to Bermuda, but public and governmental outcry forced management to reconsider the move. By August 2002, the company had decided to maintain its incorporation in the United States. John F. Lundgren was elected as chairman and chief executive officer in 2004, replacing John Trani, a former protégé of Jack Welch at General Electric. The Hardware & Home Improvement Group, including the Kwikset, Weiser, Baldwin, National Hardware, Stanley, FANAL, Pfister and EZSET brands, was acquired by Spectrum Brands Holdings, Inc. on December 17, 2012. In July 2016, CEO John F. Lundgren stepped down, with President and COO James M. Loree taking over as CEO.