Milwaukee-based manufacturer Brady Corp. announced this week that president and CEO Russell Shaller has retired and will be succeeded by company board member Vineet Nargolwala, former leader of Manchester, New Hampshire-based Allegro MicroSystems.

Shaller is retiring after 11 years with Brady Corp., a global manufacturer of identification, safety and compliance products. He served as president of identification systems from 2015 to 2022 and was appointed president and CEO in April 2022, succeeding J. Michael Nauman. Before coming to Brady Corp., Shaller served as president of Teledyne Microwave Solutions from 2008 to 2015.

In his new role, Nargolwala will be paid a base salary of $1 million and will be allowed to maintain his residence in Boston and travel to the company’s Milwaukee headquarters as needed, according to filings with the U.S. Securities and Exchange Commission.

He will also receive an annual stock incentive award with a grant date value of $6.4 million.

Nargolwala previously served as president, CEO and director of Allegro MicroSystems from June 2022 to February 2025. Prior to joining Allegro, Nargolwala worked at Sensata Technologies for nearly a decade.

A member of Brady’s board of directors for the past four years, Nargolwala was involved with the company’s April decision to acquire Honeywell International Inc.’s Productivity Solutions and Services (PSS) business in an all-cash $1.4 billion deal. Earlier in his career, Nargolwala spent nearly 10 years at Honeywell in senior leadership roles, according to SEC filings.

Shaller will remain in a consultative role with the company and receive his current salary and benefits until August 1.

“It has been a privilege to lead the Brady Corporation team,” said Shaller. “Together, we launched incredible new products, expanded our portfolio through key strategic acquisitions, and achieved five consecutive years of both organic sales growth and record EPS. I have worked closely with (Nargolwala) over the past four years, and I believe that I leave the organization in extremely capable hands. I am excited for the future of Brady as it embarks upon the next chapter of growth.”