PALM BEACH GARDENS, Fla. - Carrier Global Corporation (NYSE: NYSE:CARR), a provider of intelligent climate and energy solutions with a market capitalization of $61.8 billion and annual revenue of $24.8 billion, has appointed Amy Miles, the former CEO of Regal Entertainment Group, to its Board of Directors. The announcement was made today, with Miles's appointment effective immediately. According to InvestingPro, Carrier maintains its position as a prominent player in the Building Products industry.
Miles brings a diverse background in business leadership and innovation, having previously led Regal Entertainment Group as its Chair of the Board and CEO from 2009 to 2018. Her experience is expected to support Carrier's strategic initiatives, particularly in driving customer-centric innovation and operational excellence.
David Gitlin, Chairman & CEO of Carrier, praised Miles's track record in enhancing shareholder value and investing in technology to improve customer experiences. He expressed confidence that her guidance would contribute to long-term shareholder growth.
In addition to her tenure at Regal, Miles currently serves on the boards of The Gap, Inc. (NYSE:GAP) and Amgen Inc (NASDAQ:AMGN)., holding key positions on their audit, governance, and sustainability committees. Her cross-industry expertise is seen as a significant addition to Carrier's Board, particularly in the Audit and Governance Committees on which she will serve.
Carrier, known for its role in creating new technologies and industries, emphasizes its commitment to solutions that prioritize both people and the planet. The company underlines the importance of its diverse workforce and customer-focused approach in maintaining industry leadership. InvestingPro analysis reveals 12 additional key insights about Carrier's performance and prospects, available to subscribers. The company has consistently raised its dividend for 5 consecutive years, with a current dividend yield of 1.32%.
This move is part of Carrier's ongoing efforts to enhance its board's capabilities and steer the company towards its strategic goals. The information is based on a press release statement from Carrier Global Corporation.
In other recent news, Carrier Global Corporation has been in the spotlight for a series of significant developments. The company reported a 21% increase in Q3 sales to $6 billion, with a 26% increase in its HVAC segment sales, largely attributed to the acquisition of Viessmann Climate Solutions. RBC Capital Markets maintained an Outperform rating on Carrier's stock, though they slightly reduced the price target from $87.00 to $86.00. Goldman Sachs also reinstated a Buy rating on Carrier's stock, highlighting the company's potential growth in the HVAC industry.
Carrier also issued €750 million in 3.625% euro-denominated notes due in 2037, using the proceeds and existing cash to redeem its 4.375% Notes due in 2025. In addition, the company announced an increase in its quarterly dividend to $0.225 per share, marking an 18% increase from previous dividends. This move continues Carrier's track record of raising dividends for four consecutive years.
On the executive front, Carrier announced the departure of Kevin O'Connor, the company's Senior Vice President and Chief Legal Officer, with Francesca Campbell set to take over the role. These recent developments highlight Carrier's strategic financial moves, robust performance, and ongoing executive changes.
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