"The leadership realignment will allow us to further increase our focus on our commercial and residential businesses," said Schjerven. "This increased focus will make it possible for us to be more agile in responding to specific and widely varying customer needs, and to aggressively exploit new business opportunities as they develop."
Based on this realignment, the company and Bob McDonough, current LII Heating & Cooling president and COO, have mutually agreed he will leave LII, following a transition period.
"We sincerely appreciate Bob McDonough's many important contributions to LII during his 16-year career with us, including directing our industry-leading transition to the 13 SEER energy efficiency standard, effectively integrating many key marketing, research, and engineering functions across our various heating and cooling brands, and helping to improve our financial performance," said Schjerven. "As he leaves us to pursue opportunities in line with his personal career goals, we certainly wish him well."
Schjerven also recently announced his intention to retire by mid-2007. "My 20-plus year career at LII has been rewarding to me both personally and professionally, and I've been proud to be part of the LII team during a time of strong growth and important preparation for the future," said Schjerven. "I feel it is important to announce my intention to retire next year now so that our search for my replacement is transparent both internally and in the marketplace. I will remain as CEO until my successor is named."
"LII has greatly benefited from Bob's long career with the company, especially his leadership as CEO over the past six years," said Richard Thompson, LII's chairman of the board. "Bob brought focus to the business and was instrumental in strengthening the company's balance sheet, successfully positioning LII for a new era of growth. While we will miss working with him, he leaves the company in very good shape."
An internal and external search for his successor will begin immediately. For more information, call Karen O'Shea, vice president, communications and public relations at 972-497-5172.
For more information, visit www.lennoxinternational.com.
Publication date: 10/23/2006