Madison Heights, Michigan-based McNaughton-McKay Electric Company announced Feb. 21 that Chairman and CEO Donald Slominski Jr. will retire from the CEO role on March 31. The board of directors has appointed Mark Borin to succeed Slominski as CEO on April 1. Following this transition, Slominski will continue to serve on McNaughton-McKay’s board of directors as executive chairman, according to a news release.
McNaughton-McKay ranked No. 9 on MDM’s Top Electrical, Data & Security Distributors list in 2022.
“It’s been my honor and privilege to serve the employee-owners at McNaughton-McKay,” Slominski said in the release. “Strong and healthy companies innovate and evolve in ways which include solid succession planning at the forefront. 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 director of finance and became president and CEO in 2005. During his tenure, the electrical distributor transitioned from a family-owned to an employee-owned company, made a number of strategic acquisitions, and grew from 800 employees and $450 million in revenues to 1,750 employees and $2.2 billion in revenues, according to the release.
Borin joined McNaughton-McKay as president in June 2020. He previously 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,” Borin said in the release. “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.”