Richardson-based Lennox International Inc. announced the appointment of Gary Bedard as president of the company’s residential business segment, effective January 1.
Lennox is a leader in energy-efficient climate control solutions.
Bedard succeeds Doug Young, who is retiring following a 24-year career at Lennox. His retirement is effective June 30, 2023, to ensure a seamless transition and maintain momentum on critical business initiatives, including share gain opportunities, the company said.
“Gary is a seasoned leader with a long track record of success over his 24 years at Lennox,” CEO Alok Maskara said in a statement. “Our Residential business is well-positioned for long-term share growth and margin expansion under Gary’s leadership.”
For the last five years, Bedard led the company’s refrigeration segment and previously spent 19 years in the residential business in general management, sales, product, and marketing leadership roles. From 2007 to 2017, Bedard led the Lennox residential business, during which time the business experienced consistent market share gains.
The company said it also is exploring strategic alternatives for its European commercial HVAC and refrigeration businesses, which represent approximately 5% of its revenue.
“This decision is consistent with our focus on North America, where we are best positioned to achieve our revenue growth and profit margin targets,” Maskara said in the statement.
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