Wheeler joined A.O. Smith in 1994 as a regional sales manager for the former Water Products Company and held various senior leadership roles across the business before becoming president and CEO in 2018 and then chairman in 2020.

Shafer, who has served as president and CEO since July 2025, will become the 11th CEO in the company’s history to assume the role of chairman. He joined A.O. Smith in 2024 as president and COO. As chairman, Shafer will lead the board of directors and continue to oversee the company’s global operations, strategic direction, profitability, and shareholder return, the press release said.

“Steve has demonstrated strong, strategic leadership and a deep understanding of our business and growth opportunities,” said Mapes. “His combined role as chairman and CEO will further strengthen alignment across our strategy, operations, and long-term value creation.”

Before joining A.O. Smith, Shafer held roles of increasing responsibility at 3M Co. across multiple business units in the U.S. and China. Earlier in his career, he worked at McKinsey & Co. and Ford Motor Co. Shafer serves on the boards of the Air Conditioning, Heating, and Refrigeration Institute (AHRI) and the Metropolitan Milwaukee Association of Commerce, as well as the executive advisory board for WorkBoard Inc.

“As chairman, I will continue leading this outstanding company and team with focus and discipline,” said Shafer. “We remain committed to driving innovation, serving our customers, and advancing our purpose to find a better way. I would also like to thank Kevin for his leadership and continued support through this transition and look forward to benefiting from his continued guidance as a member of our board going forward.”