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LONDON - nVent Electric plc (NYSE:NVT), known for its electrical connection and protection solutions, has announced strategic changes to its executive leadership team, effective later this month and mid-March. These changes come as the company seeks to focus on higher growth and regional expansion following recent business transformations. The company has demonstrated solid performance with revenue growth of 12.6% in the last twelve months, reaching $3 billion, though InvestingPro data shows the stock has declined 21.2% year-to-date.
Sara Zawoyski is set to take on the role of President of Systems Protection starting March 31, 2025, after serving as the interim president since June 2024, while maintaining her position as Executive Vice President and Chief Financial Officer since 2019. Her leadership is anticipated to further the growth strategies for the Systems Protection segment. According to InvestingPro analysis, the company maintains strong financial health with a current ratio of 1.73 and operates with a moderate debt level, suggesting a solid foundation for strategic initiatives.
Gary Corona will also join nVent on March 31, 2025, as Executive Vice President and Chief Financial Officer. With a background in corporate finance at Medtronic and a 25-year tenure at General Mills, Corona is expected to contribute his extensive experience in financial operations and business transformation to nVent.
In a newly created position, Robert van der Kolk will become President of EMEA and APAC effective March 17, 2025. Van der Kolk, previously President of Electrical Connections at nVent, will concentrate on customer relations and commercial growth in these key regions.
Brian Coleman is appointed as President of Electrical Connections, effective March 17, 2025. Coleman’s past experience includes a 14-year stint at 3M, where he most recently served as President & General Manager of the Automotive and Aerospace Solutions Division.
Beth Wozniak, nVent’s Chair and CEO, expressed optimism about the appointments, emphasizing their expected contributions to nVent’s business performance and growth in customer, shareholder, and employee relations.
These executive appointments align with nVent’s strategic direction following the sale of its Thermal Management business and the acquisitions of Trachte and the pending acquisition of the Electrical Products Group business of Avail. These milestones are part of nVent’s journey to become a more focused and high-growth global electrical company. The company’s transformation efforts are supported by robust financials, including a healthy gross profit margin of 40.2% and strong cash generation, with levered free cash flow of $569 million in the last twelve months. For deeper insights into nVent’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which offers additional ProTips and detailed metrics.
nVent, which prides itself on offering inventive electrical solutions, has a history of over 100 years in the industry with a portfolio that includes recognized brands such as nVent CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF, and TRACHTE.
The information for this article is based on a press release statement.
In other recent news, nVent Electric plc announced its agreement to acquire Avail Infrastructure Solutions’ Electrical Products Group for $975 million. This acquisition aims to enhance nVent’s presence in key sectors such as power utilities and data centers, with the transaction expected to close in the first half of 2025. nVent anticipates the acquisition will positively impact its earnings per share within the first year post-completion. In its latest financial results, nVent reported fourth-quarter earnings that met analyst expectations, with adjusted earnings per share of $0.59. However, the company’s revenue for the quarter was $752 million, falling short of the analyst estimate of $771.18 million. For the full year 2024, nVent achieved sales of $3.0 billion, marking a 13% increase from the previous year. The company has provided guidance for the first quarter of 2025, expecting adjusted earnings per share between $0.65 and $0.67. Additionally, nVent forecasts full-year 2025 adjusted earnings per share to range from $2.98 to $3.08.
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