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Benzinga
Benzinga
Business
Akanksha Bakshi

Lennox Names Alok Maskara As CEO; Reiterates FY22 Outlook

Lennox (Organization) NYSE LII (Organization)
  • Lennox International Inc. (NYSE:LII) has appointed Alok Maskara as its CEO, effective on May 9, 2022.
  • Maskara succeeds Todd Bluedorn, who announced in July 2021 his plans to step down by mid-2022 as Chairman and CEO.
  • The company has named Todd Teske, current Lead Independent Director, as Chairman of the Board and to also serve as interim CEO until Maskara assumes the role as CEO.
  • Maskara has served for five years as CEO of Luxfer Holdings PLC (NYSE:LXFR). Before Luxfer, he served for nearly a decade as president of several global business units at Pentair PLC (NYSE:PNR).
  • Lennox also reiterated its previously announced financial guidance for 2022. It expects FY22 adjusted EPS of $13.50 - $14.50 and 5% -10% revenue growth.
  • Price Action: LII shares are trading lower by 4.17% at $263.93 on the last check Wednesday.
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