FORT WAYNE, Ind. – Franklin Electric Co., Inc.'s board of directors elected Jennifer L. Sherman, president and chief executive officer of Federal Signal Corporation, as chairperson effective as of May 2. The term expires at the 2026 Annual Meeting of Shareholders. Sherman has been a director of the company since 2015. Joe Ruzynski, the CEO of Franklin Electric, said, “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 announced 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. Carano's term expires at the 2027 Annual Meeting of Shareholders. Carano has served in that role since 2023. Carano previously 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.
Carano earned a Bachelor of Arts degree from Vanderbilt University and an MBA from Northwestern University’s Kellogg Business School.
Sherman said, “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.”
