J.R. Jones Named President/CEO of Rheem

Rheem Manufacturing Company CEO, I. S. Farwell, announced the appointment of J.R. Jones to succeed him as president and chief executive officer, effective March 31, 2008. Mr. Farwell also announced that he will assume the new role of special advisor to the company for the remainder of 2008. Mr. Jones was named corporate senior vice president and chief operating officer of Rheem in February, 2007 responsible for the company’s heating, cooling and water heating business units. A mechanical engineer, Jones began his career with the Rheem Air Conditioning Division in 1983 as a project engineer. After serving in design, development, and product development posts at other HVACR manufacturers, Jones returned to Rheem in 2002 as president of the air conditioning division. “J.R. Jones has consistently demonstrated strong and solid leadership throughout his career at Rheem and within the industry," says Farwell. "I am confident that J.R. will bring the leadership needed to accomplish both our business growth strategies and the vision of a unified company that exercises to its fullest advantage the many unique synergies available to Rheem to drive positive business results throughout the company.” Farwell also announced commencement of an executive search to replace Jones as corporate vice president and chief operating officer.