Fedders Corporation, a maker of HVAC equipment, announced changes to the structure of its management team. As part of its continuing transformation from a company solely focused on the North American room air-conditioner market to a diverse, multinational organization focused on the broader air treatment industry, the company is implementing the following changes:
Michael Giordano, formerly executive vice president, Finance and Administration and Chief Financial Officer, is elected president of Fedders Corporation with operating responsibility for Fedders International, Fedders Engineered Products, and Global Design Engineering.
Robert L. Laurent, Jr., formerly executive vice president, Acquisitions and Alliances, and previously CFO for 10 years, is elected executive vice president, Finance and Acquisitions and CFO.
Michael B. Etter is elected president of a new strategic business unit, Fedders Global Sourcing Solutions, which will leverage Fedders' global sourcing and Asian manufacturing capabilities to assist other manufacturers in developing Asian suppliers, conducting reverse Internet auctions, and producing their products in Fedders' extensive China manufacturing facilities. Fedders Global Sourcing Solutions will also help clients to set up call centers at Fedders' locations in China, India, and the Philippines and will provide consulting services to companies wanting to develop in-house capabilities in any of the above areas. Mr. Etter was formerly president and prior to that CEO of Fedders Air Conditioning.
Kent E. Hansen is elected executive vice president, Administration and Secretary and will continue oversight of the human resources and legal departments as well as other administrative functions including real estate and insurance.
Rick Essex is promoted to president, Fedders International with responsibility for the sales and marketing of the company's products in markets outside of the U.S. and Canada.
Dr. C.P. Ho is promoted to president, Fedders Indoor Air Quality with responsibility for the Trion and Envirco business units within the company's Engineered Products segment.
Chuck Weber is promoted to president, Melcor Corporation, the company's business unit within the Engineered Products segment that manufactures and markets thermal technology products. Previously Vice President, Finance for Melcor, Mr. Weber has been instrumental in the development of Melcor as it has expanded operations into the global market, including a manufacturing operation in Quangzhou, China.
Warren Emley is promoted to senior vice president, Operations- Fedders International with responsibility for oversight of manufacturing and quality- related activities outside of the U.S. and Canada. Located in the company's international headquarters in China, Emley, most recently Vice President, Manufacturing- HVACR has held numerous positions of increasing responsibility since joining the company in 1992
Nancy DiGiovanni, treasurer is assuming additional responsibility for Financial Services and is promoted to vice president and treasurer with responsibility for all global treasury and financial services activities. Ms. DiGiovanni joined Fedders in 1969 and became Treasurer in 1998.
Greg Ottalagano is promoted to vice president, Customer Service for Residential HVAC with responsibility for logistics, distribution, order entry, parts, and service. With the company since 1990, Ottalagano has most recently served as director, Financial Services since 1998.
In addition to the above changes, the company will reorganize the U.S. and Canadian portion of its HVAC/R business segment into two units, Fedders Residential HVAC Products and Fedders Commercial HVAC Products. Each unit will be lead by a to-be-named president.
"The realignment of these responsibilities within the management team takes full advantage of each team member's strengths to support the company's growth going forward," Sal Giordano, Jr., Fedders chairman and CEO stated. Commenting on the new Fedders Global Sourcing Solutions business unit, Mr. Giordano, Jr. added, "This is an extremely exciting venture for us. Fedders Global Sourcing Solutions is our first external services-oriented business and, while capitalizing on our most significant core competencies, it will serve to further diversify the company's sales and earnings, in line with our strategic objectives."
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