MILWAUKEE, July 31,
2024 /PRNewswire/ -- Briggs & Stratton, the
world's largest producer of engines for outdoor power equipment and
a leading designer, manufacturer, and marketer of lithium-ion
batteries, standby generators and energy storage systems, is
pleased to announce that Kristina
Cerniglia has been appointed as Chief Executive Officer,
effective immediately.
Ms. Cerniglia brings over 30 years of experience leading
organizations in the manufacturing industry. Most recently,
she served as Chief Financial Officer at Briggs & Stratton for
nearly two years, before being elevated to interim CEO in February
2024. Ms. Cerniglia has made significant contributions to
Briggs & Stratton and will continue to focus on execution and
growth, driving rapid improvements in performance to better serve
customers. Prior to Briggs & Stratton, Ms. Cerniglia was
the CFO and Senior Vice President with Hillenbrand, Inc. after
spending over 23 years in various financial leadership roles with
Stanley Black & Decker and
United Technology Corporation.
"Kristina has the full support, confidence and trust of the
Board. Kristina possesses the leadership skills and experience
needed to accelerate the company's growth strategy and position
Briggs & Stratton to achieve its full potential. The company's
progress during Kristina's initial tenure as CEO across every
single metric is impressive. She will continue to execute the
company vision and mission to deliver profitable growth," said
Michael Psaros, Chairman of Briggs
& Stratton's Board of Directors.
"I am honored and humbled to step into the role of CEO at Briggs
& Stratton. Our organization has a legacy of over 116 years of
success because of its innovative and passionate employees. My
colleagues inspire me. Alongside my executive team, we are
committed to delivering cutting-edge products and best-in-class
service to our customers. I look forward to leading our next growth
phase and expanding our mission and purpose to serve our customers,
employees, partners and communities," said Kristina Cerniglia, CEO of Briggs &
Stratton.
About Briggs & Stratton:
Briggs & Stratton, headquartered in Milwaukee, Wisconsin, provides innovative
products and diverse power solutions to help people get work done.
Briggs & Stratton is the world's largest producer of engines
for lawn and garden, turf care and job site power equipment and is
a leading designer, manufacturer and marketer of lithium-ion
batteries, standby generators and energy storage systems through
its Briggs & Stratton®, Vanguard®, Ferris®, Simplicity®,
Snapper®, Billy Goat®, Allmand®, Branco® and Victa® brands. Briggs
& Stratton products are designed, manufactured, marketed and
serviced in over 100 countries on six continents.
About KPS Capital Partners, LP
KPS, through its affiliated management entities, is the manager
of the KPS Special Situations Funds, a family of investment funds
with approximately $21.6 billion of
assets under management (as of March
31, 2024). For over three decades, the Partners of KPS
have worked exclusively to realize significant capital appreciation
by making controlling equity investments in manufacturing and
industrial companies across a diverse array of industries,
including basic materials, branded consumer, healthcare and luxury
products, automotive parts, capital equipment and general
manufacturing. KPS creates value for its investors by working
constructively with talented management teams to make businesses
better, and generates investment returns by structurally improving
the strategic position, competitiveness and profitability of its
portfolio companies, rather than primarily relying on financial
leverage. The KPS Funds' portfolio companies currently
generate aggregate annual revenues of approximately $19.6 billion, operate 223 manufacturing
facilities in 26 countries, and have approximately 47,000
employees, directly and through joint ventures worldwide (as of
March 31, 2024). The KPS
investment strategy and portfolio companies are described in detail
at www.kpsfund.com.
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SOURCE Briggs & Stratton