Valspar Announces New Chief Financial and Administrative Officer

The Valspar Corporation (NYSE: VAL) announced today that James L. Muehlbauer has been named Executive Vice President, Chief Financial and Administrative Officer, effective March 11, 2013. Muehlbauer, 51, will replace Lori A. Walker who will retire in April.

Muehlbauer has over 25 years of experience in senior leadership roles in finance and operations. Prior to joining Valspar, Muehlbauer was EVP and Chief Financial Officer of Best Buy Company, Inc. Muehlbauer also held leadership positions at The Pillsbury Company and PriceWaterhouseCoopers. In addition to his proven financial leadership, Muehlbauer brings significant executive experience in global business and consumer brands.

As Chief Financial and Administrative Officer, Muehlbauer will be responsible for all aspects of global finance, strategic planning, corporate development, information technology and communications.

“We’re pleased to have such a strong leader join our company,” said Gary E. Hendrickson, Chairman and Chief Executive Officer. “Jim’s expertise in growing large global enterprises and his hands-on business experience in retail and consumer brands make him an excellent addition to our management team. Jim will play a significant role at Valspar as we pursue long term strategic growth opportunities.”

Commenting on his appointment, Muehlbauer said, “This is a very exciting time to be joining Valspar. Gary and his leadership team have successfully transformed Valspar into a growing global company with a portfolio of world-class brands, products and customers. I’m energized by the opportunity to help Valspar achieve industry leadership and reach its strategic plans of driving profitable growth and growing returns for shareholders.”

The Valspar Corporation (NYSE: VAL) is a global leader in the paint and coatings industry. Since 1806, Valspar has been dedicated to bringing customers the latest innovations, the finest quality and the best customer service in the coatings industry. For more information, visit www.valsparglobal.com.