Mark A. Carano, Vice President, Chief Financial Officer and Treasurer at SPX Technologies, Inc.. Biography, career history and compensation sourced from SEC proxy filings.
About
Mark A. Carano has served as Vice President, Chief Financial Officer and Treasurer of SPX since January 2023. He joined SPX from Insteel Industries, Inc., where he served as Senior Vice President and Chief Financial Officer for two years (and as Vice President, Chief Financial Officer and Treasurer from May 2020 to October 2020).
Mr. Carano was Chief Financial Officer for Big River Steel from 2019 to 2020. Before joining Big River Steel in 2019, he spent six years with Babcock & Wilcox Enterprises, Inc., where he served most recently as Senior Vice President, Finance & Controller for the Industrial Segment, with prior roles as Senior Vice President, Corporate Development, Strategy and Corporate Treasurer. Before the industrial sector, he held executive roles within financial services providers including Bank of America (Merrill Lynch), Deutsche Bank and First Union Securities, with 14 years of combined investment banking experience. He began his career with FMI, a consulting and trade organization.
Roles
SPX Technologies, Inc.
Vice President, Chief Financial Officer and Treasurer · Current role
2023–present
Insteel Industries, Inc.
Senior Vice President and Chief Financial Officer (also VP, CFO and Treasurer) · Manufacturer of steel wire reinforcing products for concrete construction. Senior VP and CFO since October 2020; VP, CFO and Treasurer from May 2020 to October 2020.
2020-2022
Big River Steel
Chief Financial Officer · Privately-held manufacturer of steel products; since April 2019.
2019-2020
Babcock & Wilcox Enterprises, Inc.
Senior Vice President, Finance & Controller, Industrial Segment; Senior Vice President, Corporate Development, Strategy and Corporate Treasurer · Manufacturer of industrial technology; senior management finance roles from June 2013 to October 2018 (about six years).
2013-2018
Bank of America (Merrill Lynch), Deutsche Bank and First Union Securities
Executive roles in investment banking / financial services · 14 years of combined investment banking experience.
—
FMI
Consulting role (began career) · Consulting and trade organization.
—
External Roles
Franklin Electric Co., Inc.
Director
2025-
Fixed Compensation
FY 2025
Salary
$554,656
ComponentAnnual base salary
All other compensation
$60,601
Total compensation
$2,260,044
Performance Compensation
Data from FY 2025
Cash incentive
Annual incentive award
$690,470
FormNon-Equity Incentive Plan Compensation
Stock awards
Stock awards
$742,461
FormPerformance shares, RSUs and relative TSR awards