David Petratis Biography and Net Worth

Allegion is a $2.9 billion global pioneer in seamless access, focusing on security around the door and adjacent areas. Allegion secures people and assets with a range of solutions for homes, businesses, schools and institutions employing more than 11,000 professionals worldwide. As CEO, Dave led the IPO process to create Allegion from Ingersoll Rand in December 2013. Since that time, Dave has focused on developing a winning culture through employee engagement that is driving transformation, innovation, accelerated growth and profitability at a global scale. Under Dave’s leadership, Allegion is building a great success story for customers, employees and shareholders, alike, and was recently named one of the “most effectively managed” companies by The Wall Street Journal. 

Prior to being named CEO of Allegion, Dave served as chairman, president and CEO of Houston-based Quanex Building Products Corporation – maker of engineered materials and components for building products. In this role, Dave guided Quanex through one of the construction industry’s toughest economic periods, while strengthening the company’s culture with a focus on core values, health and safety. In addition, his team grew the company organically and through acquisitions, creating global product leadership positions.

Dave also served at Schneider Electric as president and CEO of its North American operating division, with market-leading brands of electrical distribution and industrial control products, systems and services. His experience additionally includes nearly 10 years as president of MGE UPS Systems Americas, a privately held manufacturer of power supplies. During his tenure as president there, he was part of the leveraged buyout by management, resulting in the creation of MGE. Dave began his career at Square D Company in 1981, where he held positions of increasing responsibility in manufacturing leadership.

Dave has extensive experience as a board member and currently serves on the University of Northern Iowa Business Executive Advisory Board. For eight years, he served as a director of Gardner Denver, the global manufacturer of industrial compressors, blowers, pumps, loading arms and fuel systems. He has additionally held positions on the board of directors of the University of California Irvine Graduate School of Management, the California State (Fullerton) Quality Advisory Board as well as Project Independence – a community agency in Costa Mesa, California, for the developmentally disabled. He has served on the board of governors of the National Electrical Manufacturers Association (NEMA) and the International Electrical Safety Foundation.

Dave and his teams have been recognized for safety and manufacturing excellence by Industry Week magazine. Dave has also been declared a “CEO Who Gets It” twice by the National Safety Council for his leadership in health and safety both at Schneider Electric and Allegion. In 2001, he was the Ernst & Young Entrepreneur of the Year and in 2019 was inducted into the Iowa Western and Abraham Lincoln High School “Hall of Fame.” Dave is often sought for commentary on the future of manufacturing, leadership as well as creating a culture of safety and engagement, and in 2018-2019 was featured in BPI Group's Taking the Lead series as a "spinoff success."

Dave holds an A.A. from Iowa Western Community College, a B.A. in industrial management from the University of Northern Iowa and an MBA from Pepperdine University. Dave and his wife, Cindy, have three daughters and two grandchildren.