NEW YORK - Stewart Farwell has announced his retirement as executive vice president and chief operating officer of Rheem Manufacturing Co., effective June 30. He will be succeeded by Scott Martin.

Farwell, who has spent nearly 30 years with Rheem, has held a variety of key management posts for the firm including general manager of Rheem Canada, president of the Water Heater Division, and president of the Air Conditioning division. He became executive vice president and chief operating officer in 2002.

"During the past three years, Stewart has focused Rheem on important strategic initiatives that positioned the company for growth," said Rheem Manufacturing president and chief executive officer Gary Tapella. "We are grateful to Stewart for his faithful dedication and commitment to the organization, as well as for his visionary leadership."

Martin joined Rheem in 1995, serving the Water Heater Division for his entire tenure to date - first as its director of marketing and later as vice president of marketing - before becoming president.

"Under Scott's leadership, Rheem Water Heaters has experienced significant growth and success," Tapella said. "During his tenure there, he has assembled a strong leadership team for the division."

Pictured above are Scott Martin (left) and Stewart Farwell speaking at the GAMA annual meeting in Orlando, Fla.

Publication date: 06/13/2005