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Chairpersons

Power Grid Components Appoints Michael Plaster as CEO

Strategic Insights

— 1 min read

As Power Grid Components (PGC) embarks on a new chapter of growth, industry veteran Michael Plaster brings his extensive leadership experience and industry knowledge to the position of Chief Executive Officer, effective August 18, 2025. Plaster succeeds Rick McClure, who will transition to Chairman of the Board. This planned succession is expected to propel the company forward, leveraging Plaster's deep understanding of the electrical equipment and solutions market.

Key Takeaways:

  • Michael Plaster joins PGC with nearly four decades of leadership experience in electrical equipment and solutions companies, including 20 years at ABB, where he most recently served as Executive Vice President and Lead Business Manager for Electrification.
  • Plaster has held P&L responsibility for ABB's North American Distribution Solutions business line since May 2020, driving significant growth and leading a 3,000-person team.
  • He has also served on the NEMA Board of Governors and Executive Committee, demonstrating his industry influence.
  • Plaster succeeds Rick McClure, who has led PGC since its founding in 2017 and will transition to Chairman of the Board.
  • John-Paul (JP) Munfa, a Senior Managing Director at Blackstone, expressed gratitude for McClure's leadership and continued partnership as Board Chairman, citing his pioneer status in the electrical components sector.
  • Michael Plaster has a Bachelor of Science in Mechanical Engineering Technology from Purdue University and an MBA from Butler University, and has completed the Senior Leadership Development Program at IMD in Lausanne, Switzerland.

Statistics:

  • PGC has appointed Michael Plaster as its new CEO, effective August 18, 2025.
  • Plaster brings 20 years of experience at ABB, where he most recently served as Executive Vice President and Lead Business Manager for Electrification.
  • He has led a 3,000-person team and held P&L responsibility for ABB's North American Distribution Solutions business line since May 2020.
  • PGC was founded in 2017 by Rick McClure, who will transition to Chairman of the Board.

Sources:

  • Michael Plaster is joining Power Grid Components (PGC) as Chief Executive Officer, effective August 18, 2025 (Source: Power Grid Components Press Release)
  • Michael Plaster has 20 years of experience at ABB, where he most recently served as Executive Vice President and Lead Business Manager for Electrification (Source: Power Grid Components Press Release)
  • John-Paul (JP) Munfa, a Senior Managing Director at Blackstone, expressed gratitude for McClure's leadership and continued partnership as Board Chairman (Source: Power Grid Components Press Release)

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