News - Franklin Electric Appoints Joe Ruzynski as CEO; Gregg Sengstack Remains Executive Chairperson
May 15, 2024 at 08:43 am
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Fort Wayne, Indiana - Franklin Electric Co., Inc. (NASDAQ: FELE), a global leader in water and energy systems, announced today that its Board of Directors has appointed Joe Ruzynski as Chief Executive Officer and a member of the Board, effective July 1, 2024. Gregg Sengstack, who has served as CEO since 2014 and Chairperson since 2015, will continue as Executive Chairperson.
Ruzynski, 49, joins Franklin Electric from nVent Electric plc (NYSE: NVT), a global leader in electrical connection and protection solutions, where he served as President of the Enclosures Segment since 2018. Prior to that, he held various leadership roles at Pentair plc, a global water technology company, including President of Technical Solutions and President of Flow and Filtration Solutions. He has over 25 years of experience in the industrial and electrical sectors, with a track record of driving growth, innovation, and operational excellence.
"Joe is a proven leader with a deep understanding of our markets, customers, and technologies. 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," said Sengstack. "I look forward to working with Joe and the Board to ensure a smooth and successful transition."
"I am honored and excited to join Franklin Electric as CEO and Board member. Franklin Electric is a respected and trusted brand with a strong heritage and a bright future. I have admired the company's culture, values, and commitment to excellence for many years. I look forward to working with the talented and dedicated team at Franklin Electric to deliver superior solutions and service to our customers, and create long-term value for our shareholders and employees," said Ruzynski.
"On behalf of the Board, I want to thank Gregg for his outstanding leadership and contributions to Franklin Electric over the past 35 years, including as our Chief Executive Officer since 2014. 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. Under his leadership, the company has achieved record revenues, earnings, and cash flows, while expanding its global footprint and enhancing its innovation capabilities. We are grateful for his vision, dedication, and guidance," said Jennifer Sherman, Lead Independent Director of Franklin Electric.
Franklin Electric Co., Inc. designs, manufactures and distributes water and fuel pumping systems, composed primarily of submersible motors, pumps, electronic controls, water treatment systems, and related parts and equipment. The Companyâs water pumping systems move fresh and wastewater to the residential, agricultural and other industrial end markets. The Company's segments include Water Systems, Fueling Systems, and Distribution. Water Systems produces and markets water pumping systems and is a technical service for submersible motors, pumps, drives, electronic controls, water treatment systems, and monitoring devices. The Fueling Systems segment designs, manufactures and sells pumps, motors, pipe, sumps, fittings, vapor recovery components, electronic controls, monitoring devices and related parts and equipment primarily for use in fueling system applications. The Distribution segment operates as a collection of wholly owned groundwater distributors known as the Headwater Companies.
FRANKLIN ELECTRIC CO., INC. 
