New CEO selected for Franklin Electric
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The board of directors for Fort Wayne-based Franklin Electric Co. Inc. has appointed Joe Ruzynski as CEO, the company announced Tuesday. He will succeed Gregg Sengstack, who has served as CEO for the last 10 years and will continue to serve as executive chairperson.
Ruzynski currently serves as president of the Enclosures Segment for nVent Electric plc in Minnesota. Franklin Electric said in a news release that he has more than 25 years of experience in the industrial and electrical sectors.
“Joe is a proven leader with a deep understanding of our markets, customers, and technologies,” Sengstack said in the release. “He has demonstrated his ability to execute strategic initiatives that enhance value for all stakeholders. We are confident that he is the right person to lead Franklin Electric into the next phase of growth and innovation.”
Sengstack has been with Franklin Electric for 35 years and has served as CEO since 2014. He has also served as chairperson since 2015.
Jennifer Sherman, lead independent director of Franklin Electric, thanked Sengstack for his service as CEO.
“He has been instrumental in transforming the company from a submersible motor manufacturer to a global leader in water and energy systems, with a diversified portfolio of products and services,” Sherman said. “Under his leadership, the company has achieved record revenues, earnings, and cash flows, while expanding its global footprint and enhancing its innovation capabilities.”
Ruzynski will begin his new role on July 1.