PALM BEACH GARDENS, Fla.,
July 15, 2021 /PRNewswire/ -- Carrier
Global Corporation (NYSE: CARR) today announced that Timothy N. White (48) has been named President
of its Refrigeration segment, effective August 16, 2021. White will succeed David Appel (65) who will remain with the
Company and take on a key leadership role within the Refrigeration
segment, leading the Commercial Refrigeration business.
"Carrier's long-term strategy for the Refrigeration business
segment is to continue to lead the industry in terms of providing
healthy, safe, sustainable and intelligent cold chain solutions to
our customers," said Dave Gitlin,
Chairman & CEO. "Tim is a proven leader who brings a critical
skillset to the Refrigeration segment with his deep expertise in
leading large-scale businesses with electrification, renewable
energy and sustainability solutions – all of which are at the heart
of the future of our global business. We look forward to Tim's
contributions as we continue to drive our growth strategy and
position Carrier to deliver significant value for our
shareowners."
White most recently served as CEO, Onshore Wind Americas for
General Electric. He was previously with Raytheon Technologies for
24 years where he held a number of senior leadership roles,
including President, Power & Controls and President, Electric
Systems for the company's Collins Aerospace division.
"Carrier is at the forefront of Refrigeration technology and is
recognized as a global leader in delivering innovative, sustainable
solutions for the cold chain," said White. "I'm excited to join and
look forward to collaborating with the leadership team to help
drive and deliver sustained growth."
"I want to extend my sincere thanks to David for his decade-long
leadership of the Refrigeration business," said Gitlin. "We will
continue to lean on his expertise to lead the Commercial
Refrigeration business where his long-standing knowledge and focus
on strategic customer-centric execution will drive operational
efficiencies and deliver best-in-class financial performance."
About Carrier
As the leading global provider of
healthy, safe, sustainable and intelligent building and cold chain
solutions, Carrier Global Corporation is committed to making the
world safer, sustainable and more comfortable for generations to
come. From the beginning, we've led in inventing new technologies
and entirely new industries. Today, we continue to lead because we
have a world-class, diverse workforce that puts the customer at the
center of everything we do. For more information, visit
corporate.carrier.com or follow Carrier on social media at
@Carrier.
CARR-IR
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains statements which, to the extent they
are not statements of historical or present fact, constitute
"forward-looking statements" under the securities laws. From time
to time, oral or written forward-looking statements may also be
included in other information released to the public. These
forward-looking statements are intended to provide management's
current expectations or plans for our future operating and
financial performance, based on assumptions currently believed to
be valid. Forward-looking statements can be identified by the use
of words such as "believe," "expect," "expectations," "plans,"
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"anticipate," "will," "should," "see," "guidance," "outlook,"
"confident," "scenario" and other words of similar meaning in
connection with a discussion of future operating or financial
performance or the separation and distribution from United
Technologies Corporation (the "Separation" and the "Distribution"),
since renamed Raytheon Technologies Corporation. Forward-looking
statements may include, among other things, statements relating to
future sales, earnings, cash flow, results of operations, uses of
cash, share repurchases, tax rates and other measures of financial
performance or potential future plans, strategies or transactions
of Carrier, the estimated costs associated with the Separation,
Carrier's plans with respect to our indebtedness and other
statements that are not historical facts. All forward-looking
statements involve risks, uncertainties and other factors that may
cause actual results to differ materially from those expressed or
implied in the forward-looking statements. For those statements, we
claim the protection of the safe harbor for forward-looking
statements contained in the U.S. Private Securities Litigation
Reform Act of 1995. Such risks, uncertainties and other factors
include, without limitation: (1) the effect of economic conditions
in the industries and markets in which Carrier and our businesses
operate in the U.S. and globally and any changes therein, including
financial market conditions, fluctuations in commodity prices,
interest rates and foreign currency exchange rates, levels of end
market demand in construction, the impact of weather conditions,
pandemic health issues (including COVID-19 and its effects, among
other things, on production and on global supply, demand and
distribution as the outbreak continues and results in a prolonged
period of travel, commercial and other restrictions and
limitations), natural disasters and the financial condition of our
customers and suppliers; (2) challenges in the development,
production, delivery, support, performance and realization of the
anticipated benefits of advanced technologies and new products and
services; (3) future levels of indebtedness, capital spending and
research and development spending; (4) future availability of
credit and factors that may affect such availability, including
credit market conditions and Carrier's capital structure and credit
ratings; (5) the timing and scope of future repurchases of
Carrier's common stock, including market conditions and the level
of other investing activities and uses of cash; (6) delays and
disruption in the delivery of materials and services from
suppliers; (7) cost reduction efforts and restructuring costs and
savings and other consequences thereof; (8) new business and
investment opportunities; (9) risks resulting from being a smaller,
less diversified company than prior to the Separation; (10) the
outcome of legal proceedings, investigations and other
contingencies; (11) the impact of pension plan assumptions on
future cash contributions and earnings; (12) the impact of the
negotiation of collective bargaining agreements and labor disputes;
(13) the effect of changes in political conditions in the U.S.
(including in connection with the new administration in
Washington, D.C.) and other
countries in which Carrier and our businesses operate, including
the effect of changes in U.S. trade policies or the United Kingdom's withdrawal from the European
Union, on general market conditions, global trade policies and
currency exchange rates in the near term and beyond; (14) the
effect of changes (including potentially as a result of the new
administration in Washington,
D.C.) in tax, environmental, regulatory (including among
other things import/export) and other laws and regulations in the
U.S. and other countries in which we and our businesses operate;
(15) the ability of Carrier to retain and hire key personnel; (16)
the scope, nature, impact or timing of acquisition and divestiture
activity, including among other things integration of acquired
businesses into existing businesses and realization of synergies
and opportunities for growth and innovation and incurrence of
related costs; (17) the expected benefits of the Separation; (18) a
determination by the U.S. Internal Revenue Service and other tax
authorities that the Distribution or certain related transactions
should be treated as taxable transactions; (19) risks associated
with indebtedness, including that incurred as a result of financing
transactions undertaken in connection with the Separation, as well
as our ability to reduce indebtedness and the timing thereof; (20)
the risk that dis-synergy costs, costs of restructuring
transactions and other costs incurred in connection with the
Separation will exceed Carrier's estimates; and (21) the impact of
the Separation on Carrier's business and Carrier's resources,
systems, procedures and controls, diversion of management's
attention and the impact on relationships with customers,
suppliers, employees and other business counterparties. The above
list of factors is not exhaustive or necessarily in order of
importance. For additional information on identifying factors that
may cause actual results to vary materially from those stated in
forward-looking statements, see Carrier's reports on Forms 10-K,
10-Q and 8-K filed with or furnished to the SEC from time to time.
Any forward-looking statement speaks only as of the date on which
it is made, and Carrier assumes no obligation to update or revise
such statement, whether as a result of new information, future
events or otherwise, except as required by applicable law.
# # #
Contact:
|
Ashley
Barrie
|
|
561-365-1260
|
|
Ashley.Barrie@Carrier.com
|
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SOURCE Carrier Global Corporation