Beth Wozniak Chosen as TCB’s 2023 Person of the Year
Twin Cities Business has selected Beth Wozniak, chair and CEO of nVent, as its Person of the Year for 2023.
After serving as president of Pentair’s electrical segment, Wozniak became the inaugural CEO of nVent in 2018 when Pentair’s electrical business was spun off into a free-standing company with management offices in St. Louis Park.
The financial results that Wozniak has reported during 2023 demonstrate that she has presided over a strong period of growth for nVent, which now employs more than 11,000 people globally.
In February, Wozniak announced that full-year sales in 2022 had risen 18% to $2.9 billion. “We launched 59 new products, focused on high-growth verticals, advanced our digital transformation, and our acquisition sales growth exceeded overall nVent growth,” Wozniak said at the time. “The electrification of everything, sustainability, and digitalization are driving demand for our products and solutions.”
By July, Wozniak said that nVent was raising its 2023 projections for both total sales and earnings per share.
“The company now estimates reported sales growth for full-year 2023 of 13% to 15% versus prior guidance of 4% to 6%,” nVent said in a July statement. “This new guidance range includes the acquisitions of ECM Industries and TEXA Industries.”
For the full year of 2023, the company estimates earnings per share will be between $2.30 to $2.36 on a GAAP basis.
Beyond producing excellent revenue and earnings results, Wozniak has championed ESG (environmental, social and governance) progress. In June, nVent reported that racial diversity among professional employees had increased and the number of women managers had increased globally.
Wozniak, who earned a bachelor’s degree in engineering and a master’s degree in business from Canadian universities, is one of the few women CEOs in Minnesota who lead a public company. The nVent board that Wozniak chairs consists of five women and five men.
From an environmental standpoint, during calendar 2022, nVent cut its carbon emissions by 7% and increased renewable energy consumption by 2%.
Wozniak serves on the executive committee of the Minnesota Business Partnership. She’s also vice chair of the board of governors and treasurer of the National Electrical Manufacturers Association.
Twin Cities Business will recognize Wozniak’s leadership during an event on Monday, Dec. 4 at The Metropolitan in Golden Valley. At the same event, TCB will unveil the names of people chosen for the TCB 100 for 2024. They are leaders who will be in key and challenging roles in the new year.
