Lennox International has announced that after 15 years, Todd Bluedorn will be stepping down as chair and CEO in mid-2022.
The departure is 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.
Bluedorn said company is well positioned for continued momentum in 2021 and beyond.
Lead independent director for Lennox International Todd Teske said Bluedorn instilled a high performing and innovative culture with a strong team that created tremendous value for customers and shareholders.
“His tenure at Lennox International 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 per cent annually,” Teske said.
On behalf of the entire Board, I want to thank Todd for making Lennox 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."