McNaughton-McKay announces CEO retirement, succession plan
MADISON HEIGHTS, Mich. – McNaughton-McKay Electric Company announced today that Donald D. Slominski Jr., chairman and chief executive officer, will retire from the CEO role on March 31, 2023. The board of directors has appointed Mark Borin to succeed Slominski as CEO on April 1, 2023. Following this transition, Slominski will continue to serve on the organization’s board of directors in the role of executive chairman.
“It’s been my honor and privilege to serve the employee-owners at McNaughton-McKay. Strong and healthy companies innovate and evolve in ways which include solid succession planning at the forefront,” says Slominski. “I am very excited about the way the board has positioned the company for sustainability into the future and am honored to continue to play a role in how our strategic direction evolves for years to come. Mark is a proven, successful leader and has developed deep relationships across our organization and industry as well as a solid understanding of our business since joining us in 2020. I am confident he and his leadership team will continue to implement the board’s strategic vision of a strong, growth-orientated employee-owned company well into the future. Congratulations to Mark on his new role as president and CEO.”
Slominski joined McNaughton-McKay in 1996 as the director of finance and was elected president and CEO in 2005. A steadfast and strategic leader, Slominski guided McNaughton-McKay through the successful transition from a family-owned to an employee-owned organization, delivering a number of strategic acquisitions and transforming the company from 800 employees and $450M in revenues to 1,750 employees and $2.2B in revenues. As executive chairman of the board, Slominski will continue to provide leadership and direction, working collectively with Borin and the board to develop strategy for the company’s future growth and ESOP management.
Borin joined the McNaughton-McKay leadership team as president in June 2020. Prior to joining the company, Borin spent 12 years at Pentair plc, most recently as executive vice president and chief financial officer.
“On behalf of the board of directors, the leadership teams and the employee-owners of McNaughton-McKay, we want to thank Don for his leadership and guidance over his more than two decades with the organization,” says Borin. “I am honored to be selected to serve the employee-owners of McNaughton-McKay as their president and CEO, and want to thank Don, the board, and the employee-owners for the confidence they have placed in me. Our company has a very strong foundation, and I look forward to building an even stronger future with our highly talented team, committed to innovation and exceptional customer service.”