Lennox International appoints new board member

Lennox International Inc. (NYSE:LII), a market leader in air conditioning, heating, and refrigeration with a market capitalization of $20.13 billion, announced the appointment of Tracy A. Embree as a Class III Director to its Board of Directors, effective June 1, 2025. The announcement came in a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro data, the company maintains strong financial health with consistently profitable operations and robust dividend history, having raised dividends for 15 consecutive years.

Embree, 51, brings a wealth of experience to Lennox International’s board, having previously served as the President of Otis Americas, a division of Otis Worldwide (NYSE:OTIS) Corporation. She has also held several senior executive leadership roles at Cummins Inc (NYSE:CMI)., including Vice President and President of their Distribution Business. Her term on the Lennox International board will expire at the annual meeting of stockholders in 2028.

In addition to her board duties, Embree will join the Board Governance Committee and the Compensation and Human Resources Committee. For her service, she will receive an annual retainer of $105,000 and annual equity compensation in the form of company common stock valued at approximately $155,000, aligning with the current compensation program for non-employee directors.

The Board has determined that Embree is independent, with no material direct or indirect interest in any transaction requiring disclosure. She has also entered into the standard form indemnification agreement with the company, ensuring her protection against certain legal risks associated with her board service.

Furthermore, during the Annual Meeting held on May 22, 2025, Lennox International stockholders voted on several key items, including the election of two Class III Directors, approval of executive compensation, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year 2025. The advisory vote on executive compensation received approximately 93% approval from the voting stockholders.

This article is based on a press release statement from Lennox International Inc. filed with the SEC.

In other recent news, Lennox International Inc. has announced a 13% increase in its quarterly dividend, raising it from $1.15 to $1.30 per share, with the next distribution set for July 2025. The company also expanded its stock repurchase program by $1 billion, reflecting confidence in its financial health and commitment to returning capital to shareholders. Additionally, Lennox has amended its credit agreement, reducing revolving commitments from $1.1 billion to $1 billion and extending the maturity date to May 2030, as reported in an SEC filing.

Analyst firms have provided varied insights on Lennox’s performance. RBC Capital Markets slightly increased its price target for Lennox shares to $582, maintaining a Sector Perform rating, despite noting challenges in the Building Comfort Solutions division. Meanwhile, Oppenheimer upgraded Lennox’s stock rating to Outperform, setting a new price target of $600, citing short-term challenges as temporary and expressing confidence in the company’s growth potential.

In governance news, Lennox appointed Tracy Embree to its board of directors, bringing her extensive experience in industrial strategy and sustainable solutions. This move is part of Lennox’s strategy to incorporate diverse perspectives and prepare for future leadership transitions. These developments reflect Lennox’s strategic approach to enhancing shareholder value and managing its financial and operational strategies effectively.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.