Richardson-based climate control giant Lennox announced that Executive Vice President and Chief Financial Officer Joe Reitmeier has chosen to retire and will be succeeded by Michael Quenzer, effective Jan. 1.
Reitmeier’s retirement is effective Feb. 29, after 18 years with the company. Quenzer has been vice president of Financial Planning & Analysis and Investor Relations. Reitmeier will aid in a smooth transition, the company said.
“I would like to thank Joe for his substantial contributions to Lennox. Under his strategic leadership, the company enjoyed significant shareholder value growth and exceptional financial performance. Joe demonstrated a tireless dedication to instilling financial excellence at Lennox,” Lennox CEO Alok Maskara said in a statement.
Reitmeier held various leadership roles at Lennox, including Commercial Segment CFO, before becoming the Chief Financial Officer in 2012.
Since taking over as CFO, he has been instrumental in driving profitable growth, the company said. His commitment and financial stewardship were critical to the seven times growth of the company’s earnings per share and 12 times growth in market capitalization during his tenure.
“Alongside his many accomplishments, Joe built an incredibly talented finance organization at Lennox. He leaves an enduring professional legacy. We are immensely grateful for Joe’s leadership and commitment to Lennox. I also want to congratulate Michael and look forward to working with him in his new role,” Maskara said.
Lennox said that Quenzer is an operationally-focused finance leader with a proven record of success at the company. He joined Lennox in 2004 as a treasury analyst and has since held positions of increasing responsibility, including Commercial Segment CFO and most recently vice president of Financial Planning & Analysis and Investor Relations.
In each of these roles, Quenzer has delivered financial excellence, fostered talent, and contributed to the company’s profitable growth, the company said.
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