Franklin Electric elected Jennifer L. Sherman as Chairperson and appointed Mark A. Carano as a new director.
Quiver AI Summary
Franklin Electric Co., Inc. has appointed Jennifer L. Sherman as Chairperson of the Board, effective May 2, 2025, following her decade-long service as a director. Joe Ruzynski, the CEO, praised her understanding of the company and looks forward to collaborating on strategic developments. Additionally, Mark A. Carano has joined the Board as a director, effective May 7, bringing extensive financial expertise from his roles in previous companies and investment banking. Sherman expressed confidence in Carano’s capabilities to contribute valuable insights for the company’s growth initiatives, particularly in acquisitions. Franklin Electric is recognized as a leader in water and energy systems and has received accolades for its corporate responsibility and workplace environment.
Potential Positives
- Jennifer L. Sherman has been elected as Chairperson of the Board, bringing her extensive experience from her 10 years on the Board, which may enhance strategic development for Franklin Electric.
- Mark A. Carano has been appointed as a new director, adding his significant financial and manufacturing experience, which could be critical for future growth and acquisitions.
- Franklin Electric has received recognition in multiple reputable lists, including Newsweek’s Most Responsible Companies and America’s Climate Leaders, highlighting the company's commitment to corporate responsibility and sustainability.
- The leadership changes and Board appointments signal a proactive approach to strengthening governance and operational strategy, which may instill confidence among shareholders and investors.
Potential Negatives
- The appointment of Jennifer L. Sherman as Chairperson and Mark A. Carano as a new director may raise concerns about potential overreliance on individuals with similar backgrounds, potentially stifling diversity in leadership and decision-making.
- The press release does not address any potential challenges or risks associated with the company’s strategic direction and leadership changes, which may create uncertainty among stakeholders.
- While highlighted for various accolades, the brief nature of the release may leave stakeholders questioning the company's comprehensive strategy for maintaining its recognitions and addressing future challenges.
FAQ
Who has been elected as Chairperson of Franklin Electric?
Jennifer L. Sherman, President and CEO of Federal Signal Corporation, has been elected as Chairperson effective May 2, 2025.
When will Jennifer L. Sherman's term as Chairperson expire?
Her term as Chairperson will expire at the 2026 Annual Meeting of Shareholders.
Who is the new director appointed to Franklin Electric?
Mark A. Carano, CFO of SPX Technologies, was appointed as a director effective May 7, 2025.
What is Franklin Electric known for?
Franklin Electric is a global leader in systems and components for the movement of water and energy.
What recognitions has Franklin Electric received recently?
Franklin Electric has been recognized as one of America’s Most Responsible Companies and Greenest Companies in 2025.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FELE Insider Trading Activity
$FELE insiders have traded $FELE stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $FELE stock by insiders over the last 6 months:
- DELANCEY W DAVIS (President, Headwater Companies) sold 961 shares for an estimated $99,122
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FELE Hedge Fund Activity
We have seen 150 institutional investors add shares of $FELE stock to their portfolio, and 180 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- BLACKROCK, INC. removed 590,578 shares (-8.1%) from their portfolio in Q1 2025, for an estimated $55,443,462
- PROFICIO CAPITAL PARTNERS LLC removed 134,379 shares (-100.0%) from their portfolio in Q1 2025, for an estimated $12,615,500
- STATE STREET CORP added 101,711 shares (+4.8%) to their portfolio in Q4 2024, for an estimated $9,911,736
- ROBECO SCHWEIZ AG removed 98,479 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $9,596,778
- JPMORGAN CHASE & CO added 92,793 shares (+60.1%) to their portfolio in Q4 2024, for an estimated $9,042,677
- WEISS ASSET MANAGEMENT LP added 87,286 shares (+inf%) to their portfolio in Q4 2024, for an estimated $8,506,020
- GOLDMAN SACHS GROUP INC added 84,861 shares (+35.3%) to their portfolio in Q4 2024, for an estimated $8,269,704
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
FORT WAYNE, Ind., May 08, 2025 (GLOBE NEWSWIRE) -- The Board of Directors of Franklin Electric Co., Inc. (NASDAQ: FELE) has elected Jennifer L. Sherman, President and Chief Executive Officer of Federal Signal Corporation, as Chairperson effective as of May 2, 2025 for a term expiring at the 2026 Annual Meeting of Shareholders. Ms. Sherman has been a Director of the Company since 2015. Joe Ruzynski, the Company’s Chief Executive Officer, commented: “I want to congratulate Jennifer on her election as Chairperson of Franklin Electric. She knows the Company well, having served on our Board of Directors for 10 years, and I am looking forward to working closely with her to further develop and refine Franklin’s strategy.”
In addition, the Company is pleased to announce that Mark A. Carano, Vice President, Chief Financial Officer and Treasurer of SPX Technologies, Inc. has been appointed as a director of the Company effective May 7, 2025 for a term expiring at the 2027 Annual Meeting of Shareholders. Mr. Carano has served in that role since 2023. Prior thereto, Mr. Carano served as Senior Vice President, Chief Financial Officer and Treasurer of Insteel Industries, Inc., and Chief Financial Officer of Big River Steel LLC, following 14 years in investment banking.
Mr. Carano earned a Bachelor of Arts degree from Vanderbilt University and an MBA from Northwestern University’s Kellogg Business School.
Ms. Sherman, Franklin’s Chairperson of the Board, commented: “I have confidence that Mark’s extensive financial and manufacturing sector experience will provide a unique perspective to our deliberations. His investment banking and corporate deal-making experience will be invaluable as Franklin Electric continues to look for opportunities to grow through accretive acquisitions. I join my fellow directors in welcoming Mark to the Board and we look forward to benefitting from his leadership and expertise.”
About
Franklin
Electric
Franklin
Electric
is
a
global
leader
in
the
production
and
marketing
of
systems
and
components
for
the movement
of
water
and
energy.
Recognized
as
a
technical
leader
in
its
products
and
services,
Franklin Electric
serves
customers
worldwide
in
residential,
commercial,
agricultural,
industrial,
municipal,
and
fueling
applications.
Franklin
Electric
is
proud
to
be
recognized
in
Newsweek’s
lists
of
America’s
Most Responsible
Companies
2024,
Most
Trustworthy
Companies
2024,
and
Greenest
Companies
2025;
Best
Places
to
Work
in
Indiana
2024;
and
America’s
Climate
Leaders
2024
by
USA
Today.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein, including those relating to market conditions or the Company’s financial results, costs, expenses or expense reductions, profit margins, inventory levels, foreign currency translation rates, liquidity expectations, business goals and sales growth, involve risks and uncertainties, including but not limited to, risks and uncertainties with respect to general economic and currency conditions, various conditions specific to the Company’s business and industry, weather conditions, new housing starts, market demand, competitive factors, changes in distribution channels, supply constraints, effect of price increases, raw material costs, technology factors, integration of acquisitions, litigation, government and regulatory actions, the Company’s accounting policies, future trends, epidemics and pandemics, and other risks which are detailed in the Company’s Securities and Exchange Commission filings, included in Item 1A of Part I of the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2024, Exhibit 99.1 attached thereto and in Item 1A of Part II of the Company’s Quarterly Reports on Form 10-Q. These risks and uncertainties may cause actual results to differ materially from those indicated by the forward-looking statements. All forward-looking statements made herein are based on information currently available, and the Company assumes no obligation to update any forward-looking statements.
Contact:
Russ Fleeger
Franklin Electric Co., Inc.
260.824.2900
