A power tool having a body, a tool bit holder protruding from the tool body for holding and rotating a tool bit about an axis of rotation, and an operator for operating the bit holder. The operator includes an annular member rotationally engageable with the bit holder for manual turning to tighten and/or release the bit holder, and a mount mounting the annular member to the tool body for movement between a non-operative position, rotationally disengaged from the bit holder, and an operative position, rotationally engaged with the bit holder.