Scott Trumbull today presided over his last Franklin Electric Co. Inc. shareholder meeting as CEO of the Fort Wayne company.
Trumbull, who vacates that office at the end of business today, will continue as chairman of the board. Gregg Sengstack, president and chief operating officer, will succeed Trumbull as CEO.
About 75 people, including many current and former employees, attended the 40-minute meeting at the manufacturer’s new headquarters near Fort Wayne International Airport.
Franklin Electric designs and makes submersible motors and pumping systems used to move water and fuel. Customers include homeowners, municipalities and companies in commercial, agricultural and other industries worldwide.
The company on Tuesday reported first-quarter earnings of $17 million, or 35 cents a diluted common share, a 10 percent increase from the $15.5 million, or 32 cents a share, posted for the same three-month period in 2013.
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