Lennox CEO Todd Bluedorn to step down by mid-2022; company raises 2021 guidance

LENNOX INTERNATIONAL INC

CEO Todd Bluedorn to resign as Chairman and CEO by mid-2022; board has commenced search for next CEO.
Raised 2021 full-year guidance: revenue growth now 11-15% (from 7-11%), GAAP EPS $11.97-$12.57, adjusted EPS $12.10-$12.70.
Retention agreement with EVP Doug Young provides $2.5M if employed through June 30, 2023.
Bluedorn's 15-year tenure grew market cap from $2.5B to over $13B, with 18% annual total shareholder return.

item 5.02 item 7.01 item 9.01

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Departed

Todd M. Bluedorn

Chairman of the Board and Chief Executive Officer

LII · LENNOX INTERNATIONAL INC

Filed: July 14, 2021, 7:59 PM ET

On July 8, 2021, Todd M. Bluedorn, Chairman of the Board and Chief Executive Officer of Lennox International Inc. (the “Company”) advised the Company’s Board of Directors that he intended to resign as Chief Executive Officer and as a member of the Board of Directors in mid-2022.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Todd M. Bluedorn resigned as Chairman of the Board and Chief Executive Officer at LENNOX INTERNATIONAL INC.

Action: resigned
Role: Chairman of the Board and Chief Executive Officer

Exact text from the filing

On July 8, 2021, Todd M. Bluedorn, Chairman of the Board and Chief Executive Officer of Lennox International Inc. (the “Company”) advised the Company’s Board of Directors that he intended to resign as Chief Executive Officer and as a member of the Board of Directors in mid-2022.

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Source: SEC EDGAR

accession 0001193125-21-214688

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