Rockwell Automation names new SVP and CFO

Rockwell Automation has appointed Nicholas Gangestad as senior vice-president and chief financial officer, effective Mar. 1.

He will report to Blake Moret, Rockwell Automation’s chair and CEO.

Nicholas Gangestad joins Rockwell Automation. Photo: Business Wire

Gangestad joins Rockwell after a long career with 3M, where he most recently served as the company’s chief financial officer and oversaw all aspects of the financial organization including compliance, financial planning, treasury and tax.

Before his promotion to CFO in 2014, Gangestad served as 3M’s chief accounting officer, corporate controller, and also held global financial management roles overseeing teams and developing talent in Canada, Latin America and Asia Pacific.

“Nick’s leadership experience, strong finance background and deep understanding of our industrial customers will help Rockwell Automation drive its strategic vision and accelerate profitable growth,” Moret says. “We are thrilled to welcome him to a dynamic leadership team focused on generating superior customer and shareowner value.”

Gangestad received an undergraduate degree from Augsburg University in Minneapolis and an MBA from the University of Minnesota.

Gangestad replaces Steve Etzel, who has served as interim CFO since November 2020. Etzel is a 30-year company veteran who postponed his previously announced retirement to fill the interim role. He will retire in 2021 after a transition period.

“Steve Etzel’s steady, thoughtful contributions to Rockwell and our stakeholders have been well-recognized for many years. His willingness to step up during our CFO transition has been especially appreciated,” says Moret. “The board and I wish him and his family the very best in his retirement.”