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
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management (as of September 30, 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 $23.7 billion, operate 251 manufacturing facilities in 30 countries, and have approximately 65,000 employees, directly and through joint ventures worldwide (as of September 30, 2024, pro forma for recent acquisitions). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
