DALLAS — The board of directors of Lennox International Inc. announced that after 15 years, Todd Bluedorn informed the board he will be stepping down as chairman and chief executive officer in mid-2022 based on his desire to create a better balance between his personal and professional priorities. The board of directors has commenced a search for the company's next CEO.
"It has been a privilege to lead LII these past 15 years and I'm extremely proud of all we've accomplished together," said Bluedorn. "With an exceptional management team, hard-working and dedicated employees, key strategic investments in product, technology, and distribution, and strong end markets, we are well-positioned for continued momentum in 2021 and beyond."
"Todd Bluedorn instilled a high performing and innovative culture with a strong team that created tremendous value for our customers and shareholders,” said lead independent director for Lennox International Todd Teske. “His tenure at LII has been extraordinary. Under Todd's leadership the company's market cap grew from $2.5 billion to over $13 billion, resulting in total shareholder return in excess of 18% annually. On behalf of the entire Board, I want to thank Todd for making LII the outstanding company that it is today and we look forward to working with him and the broader management team on a smooth transition in 2022."