Gregg C. Sengstack has been the Chief Executive Officer of Franklin Electric Co., Inc. since May 2, 2014. Under his leadership, the company has seen a focus on financial goals like earnings per share and working capital ratio, reflecting a...
Gregg C. Sengstack has been the Chief Executive Officer of Franklin Electric Co., Inc. since May 2, 2014. Under his leadership, the company has seen a focus on financial goals like earnings per share and working capital ratio, reflecting a strategy that aligns executive pay with company performance. In 2022, his total compensation was about $6.7 million, including a $900,000 salary and up to $990,000 in bonuses based on set performance targets. One notable aspect of his career is that he transitioned from being a director to CEO without any prior committee appointments, which is not typical in corporate environments. Sengstack is also set to step down as CEO on July 1, 2024, making way for a new leader, while continuing his role as Executive Chairperson. His tenure marks a significant period of growth and restructuring, placing a strong emphasis on performance-based incentives and aligning management goals with shareholder interests. The focus on long-term metrics suggests a commitment to building sustainable value for the company and its investors.