Power Grid Components (PGC) Announces Leadership Transition as Michael Plaster Becomes CEO, Rick McClure Named Board Chairman
Power Grid Components, LLC (PGC), a premier U.S.-based provider of essential electrical grid components, has announced a major leadership transition designed to support the company’s continued expansion and strategic growth in the evolving energy and electrification landscape. Effective August 18, 2025, Michael Plaster, a distinguished veteran with nearly 40 years of executive experience in the electrical equipment and infrastructure sector, will assume the role of Chief Executive Officer (CEO). He will succeed Rick McClure, the company’s founding CEO, who will transition to the role of Chairman of the Board. The move marks a new chapter for PGC, emphasizing continuity, innovation, and long-term value creation for customers, employees, and stakeholders.
This strategic leadership succession is the result of a deliberate and thoughtful process led by the Board of Directors and senior leadership, aimed at building on the company’s robust foundation while accelerating growth amid a rapidly transforming grid landscape. The appointment of Michael Plaster represents a strong alignment of experience, vision, and values. With his deep industry expertise and reputation for operational excellence, Plaster is well-positioned to lead PGC into its next phase of development, innovation, and customer-centric service.
An Accomplished Industry Veteran Steps In
Michael Plaster brings an impressive track record of leadership, transformation, and commercial success in the electrical infrastructure industry. Most recently, he served as Executive Vice President and Lead Business Manager for Electrification at ABB, a global leader in electrification, automation, and digitalization. In that role, Plaster led ABB’s U.S. Electrification commercial organization and had profit and loss (P&L) responsibility for its North American Distribution Solutions business. Under his leadership, ABB’s regional business achieved notable growth, operational improvements, and expanded market presence.
During his 20-year tenure at ABB, Plaster held a variety of executive positions that consistently demonstrated his ability to build high-performing teams, drive innovation, and execute customer-driven strategies. His most recent position saw him leading over 3,000 employees and overseeing a complex portfolio of offerings that are essential to modern electrical infrastructure. In addition to his corporate responsibilities, he served on the Board of Governors and Executive Committee of the National Electrical Manufacturers Association (NEMA), reflecting his influence and thought leadership within the broader industry.
A Shared Vision for the Future
Rick McClure, who founded PGC in 2017 and has overseen its remarkable trajectory over the past eight years, expressed full confidence in Plaster’s ability to take the reins.
“In Mike, we have found the ideal next CEO for PGC, and I could not be more excited about the company’s future under his leadership,” McClure said. “His deep experience across the electrical grid sector, proven leadership skills, and shared values with our organization make him the right person to guide PGC forward. Our industry is undergoing rapid change, and I am confident that Mike’s strategic insight and customer-focused approach will help us continue to thrive.”
Plaster echoed McClure’s optimism and commitment to the company’s mission. “I am incredibly honored to join PGC and continue building on Rick’s legacy,” Plaster commented. “PGC has earned a strong reputation in the market for delivering dependable, innovative, and responsive solutions to the grid modernization challenge. As utilities, OEMs, and infrastructure providers adjust to new demands — including electrification, decarbonization, and digital integration — PGC is well-positioned to be a key enabler of that transition. I look forward to working closely with the entire PGC team, our partners, and our customers to realize the next wave of value creation.”
Strategic Support from Ownership
PGC’s ownership group, led by global investment firm Blackstone, has expressed enthusiastic support for the leadership transition. John-Paul (JP) Munfa, a Senior Managing Director at Blackstone and an active partner in PGC’s growth strategy, emphasized the long-term alignment and strategic rationale behind the change.
“Since founding PGC, Rick has demonstrated tremendous vision and dedication in building a best-in-class platform in the electrical components space,” Munfa said. “We are grateful for his continued partnership as Board Chairman, and we are equally thrilled to welcome Michael to the CEO role. His impressive background and deep industry relationships will be critical assets as we expand PGC’s capabilities and reach.”
Munfa also highlighted the broader context in which PGC operates — a dynamic and rapidly evolving energy landscape that demands agility, scale, and technical know-how. “With aging infrastructure, rising demand for electricity, and the push toward a more resilient and sustainable grid, we see PGC playing an increasingly critical role,” he added. “We are confident that Michael and Rick together will be a powerful team to lead the company through this pivotal period.”
A Legacy of Excellence and Growth
Under McClure’s leadership, PGC has evolved from a startup to a major supplier of mission-critical electrical grid components, serving a wide customer base that includes utilities, OEMs, distributors, and industrial clients. The company specializes in a diverse array of products, including high-voltage switchgear components, substation connectors, insulators, and other key infrastructure parts. Through a disciplined acquisition strategy, organic growth, and relentless customer focus, PGC has carved out a strong position in the market.
McClure’s leadership style emphasized innovation, responsiveness, and collaboration. He built a team and culture that prioritized technical excellence, customer service, and safety, helping to establish PGC as a trusted name in the sector. As Chairman of the Board, he will continue to shape the company’s strategic direction, mentor its leadership, and champion long-term planning and governance.
Plaster’s Career Journey and Leadership Philosophy
Michael Plaster’s career is rooted in deep industry expertise and a commitment to operational and customer excellence. Before joining ABB, he held key roles at companies such as Kirby Risk Electrical Supply and Schneider Electric, where he led teams focused on sales growth, product innovation, and customer engagement. His multifaceted background has given him a holistic view of the electrical value chain, from manufacturing to distribution to end-user integration.
Plaster is also an advocate for lifelong learning and leadership development. He holds a Bachelor of Science in Mechanical Engineering Technology from Purdue University and an MBA from Butler University. Additionally, he completed ABB’s prestigious Senior Leadership Development Program at the International Institute for Management Development (IMD) in Lausanne, Switzerland — a globally respected program that equips senior executives with tools for strategic thinking, global leadership, and change management.
This diverse set of experiences positions him well to lead PGC in a time of market complexity and opportunity. He is known for his collaborative leadership approach, focus on results, and passion for delivering value to customers, partners, and employees.
