AAON Announces Semi-Annual Cash Dividend, Promotion of Casey R. Kidwell and Election of Independent Chairman and Independent Vice Chair of the Board
May 18 2022 - 2:58PM
AAON, Inc. (NASDAQ-AAON), today announced that its Board of
Directors has declared the Company’s next regular semi-annual cash
dividend of $0.19 per share (or $0.38 annually), payable on July 1,
2022 to stockholders of record as of the close of business on June
3, 2022.
The Company also announced today that its Board
of Directors has promoted Casey R. Kidwell to the position of Vice
President of Administration, effective May 12, 2022.
Casey R. Kidwell, 44, joined AAON in 2021 as
Director of Administration. Prior to joining the Company, he served
almost 10 years in various roles at WPX Energy, including most
recently as Human Resources Operations Manager. Mr. Kidwell
graduated from Oklahoma State University with a Bachelor of Science
in Human Resource Management.
Gary D. Fields, President and CEO, stated,
“Please join me in congratulating Casey on his promotion to Vice
President of Administration. Casey has been essential to our
current employee recruitment and retention efforts through various
human resource initiatives, especially as we have navigated the
unusual labor market of the past year. I look forward to Casey's
continued success and positive impact as he steps into his new
role.”
Additionally, on May 12, 2022, following the
previously announced retirements of Norman H. Asbjornson as
Executive Chairman and Paul K. (“Ken”) Lackey, Jr., as Lead
Independent Director, the Board of Directors elected A.H. ("Chip")
McElroy II as Independent Chairman of the Board and Caron Lawhorn
as Independent Vice Chair of the Board.
Mr. Fields concluded, “Norm was uniquely
qualified to lead AAON’s Board from the Company’s inception through
his recent retirement. With Norm’s decision to retire from his
Executive Chairman position and Ken Lackey’s decision to retire
from the Board following 15 years of service, the Board determined
it was the appropriate time to modify the Company’s governance
structure. I could not be more pleased to have Chip McElroy as the
Company’s Independent Chairman and Caron Lawhorn as our Independent
Vice Chair. They each bring significant experience to their
respective roles and the Company will benefit a great deal from
this modernized governance structure as it continues to mature as
an organization.”
About AAONAAON, Inc. is engaged
in the engineering, manufacturing, marketing, and sale of premium
air conditioning and heating equipment consisting of standard,
semi-custom, and custom rooftop units, data center cooling
solutions, cleanroom systems, chillers, packaged outdoor mechanical
rooms, air handling units, makeup air units, energy recovery units,
condensing units, geothermal/water-source heat pumps, coils, and
controls. Since the founding of AAON in 1988, AAON has maintained a
commitment to design, develop, manufacture and deliver heating and
cooling products to perform beyond all expectations and demonstrate
the value of AAON to our customers. For more information, please
visit www.AAON.com.
Forward-Looking StatementsThis
press release includes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Words such as “expects”, “anticipates”, “intends”, “plans”,
“believes”, “seeks”, “estimates”, “should”, “will”, and variations
of such words and similar expressions are intended to identify such
forward-looking statements. These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions, which are difficult to predict. Therefore, actual
outcomes and results may differ materially from what is expressed
or forecasted in such forward-looking statements. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date on which they are made.
We undertake no obligations to update publicly any forward-looking
statements, whether as a result of new information, future
events.
Contact InformationJoseph
MondilloDirector of Investor RelationsPhone (617) 877-6346Email:
joseph.mondillo@aaon.com
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