<b>Rheem Congratulates JR Jones on his Promotion to CEO; Welcomes Chris Peel to the Management Team.</b>
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Rheem Congratulates JR Jones on his Promotion to CEO; Welcomes Chris Peel to the Management Team.

April 11, 2008

Rheem is pleased to announce the promotion of JR Jones to the position of President and CEO. Jones was named Corporate Senior Vice President and COO in February, 2007 and is responsible for the company’s heating, cooling and water heating business units.   Jones, a mechanical engineer, began his career with the Rheem Air Conditioning Division in 1983 as a project engineer.

Filling Jones’ former position of Corporate Senior Vice President and COO is industry veteran Chris Peel. Peel comes to Rheem with nearly 20 years of varied industry experience.  He most recently held positions with Heatcraft Worldwide Refrigeration – Americas, a division of Lennox International.

Leaving the role of CEO is I.S. Farwell, who will assume the role of Special Advisor to the company for the remainder of 2008.

The changes to the management team continue the progressive evolution and organizational restructuring of Rheem that began more than a year ago.   Rheem continues to strengthen its management team, re-purpose and add new facilities, expand its product portfolio, leverage its considerable technical resources, enhance its vast global distribution, invest in innovation and technology, and reenergize its brands

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