Briggs & Stratton CEO Sees Better Times Ahead
28 October 2020
Briggs & Stratton, the Milwaukee-based engine and equipment manufacturer, has been through a lot in the last few months, including a bankruptcy, sale and installation of a new chief executive.
Calling it “a new beginning,” the company, now Briggs & Stratton LLC, issued a press release in which the new president and CEO, Steve Andrews discussed his early observations after one month at the helm and indicated his belief in the company’s future.
“Many of the external challenges that seemed to hit the company all at once are starting to stabilize,” said Andrews, whose previous industry experience included serving as CEO of International Equipment Solutions (IES) and president of Pettibone. “Weather is in our favor. The stay-at-home environment has positively impacted our business … and we’re now a well-capitalized company, unencumbered by past liabilities, so we can focus on growth.
“In the first three months of our fiscal year, nearly all parts of our business globally are performing stronger than last year. In fact, this is a better start than we’ve seen in a number of years.”
Other observations included:
On Briggs & Stratton’s move into electrification technology: “I’m really impressed with our Vanguard Lithium-Ion Commercial Battery System. It’s an example of using our power application expertise to quickly expand into new markets with an innovation that remains unmatched – and has exponential growth potential.”
On the company’s continuing focus on the commercial engine business: “While residential engines and products remain a core part of what we do, we will continue to strategically focus our offerings to include commercial engines and products, lithium-ion batteries and other systems and products that will help make our commercial customers more productive and profitable.”
On Briggs & Stratton’s product development efforts: “Innovation and new products will be a key focus going forward, so stay tuned for a lot more from us.”
On the company’s position in Milwaukee, which has been its headquarters over its 113-year history: “The Milwaukee community – and all of the communities within which we currently operate – has been good to us and we will remain a strong community partner that stands behind its products and supports its customers, for many years to come.”
On the company’s workforce: “Now is an exciting time to join Briggs & Stratton and be part of a new beginning. Many opportunities are available to be a part of an iconic company with a renewed focus on innovation, new products, quick action and growth. I’m impressed with the talented team of employees at Briggs & Stratton and look forward to growing that team to support what will again be a very successful business.”