Watsco Announces Advisory Board Appointments and Executive Promotion
September 17 2019 - 07:30AM
Watsco, Inc. (NYSE: WSO) - Watsco, Inc. today announced
appointments to its Advisory Board as well as the promotion of
Barry S. Logan to Executive Vice President – Planning &
Strategy.
Watsco’s Board of Directors formed an Advisory
Board in March 2019 to provide thoughts, advice, and non-binding
recommendations to its Board. Up to six members to the Advisory
Board may be appointed with terms of three years. Members of the
Advisory Board may include possible future Board members, former
Board members and other individuals whom the Board determines may
be able to provide valuable insight.
Recent appointments to Watsco’s Advisory Board
include:
Terry MyersonMr. Myerson was
previously a member of the Senior Leadership Team at Microsoft,
leading the development of Windows, Surface, Xbox and Microsoft
Exchange over his 21-year career there. Mr. Myerson is currently an
Operating Executive with The Carlyle Group, a leading private
equity firm assisting portfolio companies on the design and
execution of their technology strategies. He is also a Venture
Partner at Madrona Venture Capital, the Pacific Northwest's leading
venture capital group, where he works with entrepreneurs on the
next generation of innovation.
Rachel Wilson Since April 2017,
Ms. Wilson has served as Head of Cybersecurity for Morgan Stanley
Wealth Management and Investment Technology. She is responsible for
the cybersecurity of wealth and investment management systems and
the integrity and confidentiality of client data. Prior to Morgan
Stanley, Ms. Wilson spent 15 years at the National Security Agency
(NSA), holding several key senior executive level leadership
positions.
John Macdonald Mr. Macdonald is
the former President and CEO of Enercare, Inc., one of the
largest home service companies in North America. Mr. Macdonald
retired from Enercare in 2018 after it was acquired
by Brookfield Infrastructure. He presently serves as Chairman
of the Board of Parity, Inc., a Toronto-based computer software
company using AI to reduce carbon emissions for multi-tenant
buildings.
Albert H. Nahmad, Watsco’s Chairman and CEO
said: “Watsco is leading the technology revolution in our industry,
and our advisory board members bring an incredible variety of
experience and insight to the table.”
Watsco also announced the promotion of Barry S.
Logan to the position of Executive Vice President–Planning &
Strategy. Mr. Nahmad stated: “With more than 26 years of service to
the Company, Mr. Logan has been an effective and strategic leader.
His skills and expertise have contributed to our growth over the
years and his expanded role will offer more opportunities to
provide value to our Company.”
About Watsco
Watsco is the largest distribution network
for heating, air conditioning and refrigeration (HVAC/R) products
with locations in the United
States, Canada, Mexico and Puerto Rico, and on
an export basis to Latin America and the Caribbean.
Watsco estimates that over 300,000 contractors and technicians
visit or call one of its 604 locations each year to get
information, obtain technical support and buy products. HVAC/R
products provide comfort to homes and businesses regardless of the
outdoor climate. Older systems often operate below today’s
government mandated energy efficiency and environmental
standards. Watsco has an opportunity to accelerate the
replacement of these systems at a scale greater than its
competitors as the movement toward reducing energy consumption and
its environmental impact continues. This is especially important
since heating and cooling accounts for approximately half of the
energy consumed in a typical U.S. home. Additional information
about Watsco may be found at www.watsco.com.
This document includes certain “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on management's
current expectations and are subject to uncertainty and changes in
circumstances. Actual results may differ materially from these
expectations due to changes in economic, business, competitive
market, new housing starts and completions, capital spending in
commercial construction, consumer spending and debt levels,
regulatory and other factors, including, without limitation, the
effects of supplier concentration, competitive conditions within
Watsco’s industry, seasonal nature of sales of Watsco’s products,
the ability of the Company to expand its business, insurance
coverage risks and final GAAP adjustments. Detailed information
about these factors and additional important factors can be found
in the documents that Watsco files with the Securities and Exchange
Commission, such as Form 10-K, Form 10-Q and Form 8-K.
Forward-looking statements speak only as of the date the statements
were made. Watsco assumes no obligation to update forward-looking
information to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information,
except as required by applicable law.
Barry S.
Logan |
Senior Vice President |
(305) 714-4102 |
e-mail: blogan@watsco.com |
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