Menomonee Falls-based Enerpac Tool Group has hired Scott Vuchetich as its executive vice president for marketing and president of its Americas business.
[caption id="attachment_539882" align="alignright" width="300"] Scott Vuchetich[/caption]
Vuchetich was previously global vice president and general manager of the PeopleID division of Milwaukee-based Brady Corp.He will have responsibility for Enerpac’s commercial and operational activities across the Americas region and will lead the global marketing function, including product management, commercial marketing, digital and e-commerce, marketing communications and branding efforts.
“I am pleased to welcome Scott to the Enerpac Tool Group leadership team, as we continue our focus on growth, efficiency, and simplification,” said Paul Sternlieb, president and chief executive officer of Enerpac. “In continuing to flatten our structure, Scott’s role combines what had previously been two roles within our company. This will enable us to further capitalize on growth opportunities in our markets by building a strategic roadmap for our product portfolio, and with a stronger connection between our marketing and commercial execution teams, extending that through selling our world-class offerings.”
Sternlieb took over as CEO of Enerpac in October. On the company’s earnings call Tuesday he said the company is going through a deep dive on the business with a focus on growth, operational improvements and having a more simplified structure.
Enerpac has already started making changes. Two executives, chief operating officer Jeff Schmaling and general counsel Fabrizio Rasetti, left the company earlier this month in an effort to flatten and simplify the organization’s structure.
“I expect we’ll continue to look for opportunities as to how we can simplify and flatten the organization,” Sternlieb said.
He said the areas the business review is exploring include commercial execution and effectiveness, having fewer and more impactful initiatives in innovation, identifying markets where the company is under penetrated, and reviewing manufacturing capacity and footprint to improve profitability.
Sternlieb said the review of the business would be happening on a rolling basis and the company would likely share updates each quarter.
He also hinted at the possibility for acquisitions to be part of the strategy going forward, although he said most of Enerpac’s portfolio work is done.
“We like the business that we have. We’re going to look to grow organically and we will look selectively inorganically, so M&A will be a part of our strategy,” Sternlieb said.
Enerpac also recently expanded its board, adding Lynn Minella as a director. Minella retired as chief human resources officer of Johnson Controls this fall. She had been with the company since 2017.