Carrier Global Corporation (NYSE:CARR), a leading provider of air conditioning, heating, and refrigeration solutions and a prominent player in the Building Products industry with a market capitalization of $68 billion, announced that Kevin O'Connor, the company's Senior Vice President and Chief Legal Officer, will be stepping down.
His departure is set for January 1, 2025. Francesca Campbell will take over the role, as stated in a recent 8-K filing with the Securities and Exchange Commission.
The transition in Carrier's executive leadership comes at a time when the company is navigating a complex global market. O'Connor's tenure saw him overseeing the legal aspects of the company's operations, and his contributions have been integral to Carrier's growth and compliance strategies.
Campbell's appointment marks a significant step in the company's ongoing efforts to strengthen its leadership team. Her experience and expertise are expected to be valuable assets as Carrier continues to expand its global footprint and enhance its product offerings.
This news is based on an SEC filing.
In other recent news, Carrier Global Corporation has made significant financial moves. The company issued €750 million in 3.625% euro-denominated notes due in 2037, using the proceeds, along with existing cash, to redeem its 4.375% Notes due in 2025.
In Q3, Carrier reported a 21% increase in sales to $6 billion, with organic sales growing by 4%. The HVAC segment saw a 26% increase in sales, largely due to the acquisition of Viessmann Climate Solutions. Adjusted EPS from continuing operations was $0.77, marking a 3% increase year-over-year.
Analysts at Baird and Oppenheimer maintained an Outperform rating on Carrier Global, while Mizuho (NYSE:MFG) held the company at Neutral. The company also repurchased $400 million in shares in Q3 and plans to reach $1 billion in buybacks by year's end.
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