TRANE-TECHNOLOGIES
4.6.2021 12:32:06 CEST | Business Wire | Press release
Trane Technologies (NYSE: TT), a global climate innovator, today announced that Dave Regnery, current president and chief operating officer, has been named chief executive officer and will join the Board of Directors. He succeeds Mike Lamach, who will serve as executive chair of the Board until his planned retirement from the company sometime in the first half of 2022. These changes are effective July 1, 2021.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210604005078/en/
“Dave Regnery is the clear choice to lead Trane Technologies into the future, consistent with our comprehensive succession plan,” said Lamach. “Dave has worked alongside me to shape nearly every aspect of our global business – from our business operating system, to our sustainability and innovation leadership, to the development of our culture of inclusion and engagement, which has led to a deep pool of leadership talent. Dave was the co-architect of our transformation as a focused climate innovator. He is an exceptional leader with a deep understanding of our industry, the sustainability megatrends affecting our businesses, our customers’ needs, and how to create value for our stakeholders. I have complete confidence in Dave as he becomes CEO and leads Trane Technologies forward.”
As president and chief operating officer, Regnery has had direct responsibility for the company’s three regional reporting segments and full portfolio of businesses and brands, including Trane® and Thermo King.® He also has had oversight of the company’s global business operations, including supply chain, engineering and information technology. Regnery has worked closely with Lamach to evolve and sharpen the company’s strategy as an industry leader in climate solutions with a singular purpose – to boldly challenge what’s possible for a sustainable world.
Regnery has been with Trane Technologies for his entire career, beginning in the company’s financial leadership development program, then progressing through financial and commercial leadership and general management roles. Throughout his tenure, Regnery has successfully led all of the company’s businesses around the world, including the Commercial HVAC, Residential HVAC and Transport Refrigeration businesses, and taken them to new heights. Under his leadership, the company launched its successful EcoWise™ portfolio of products, designed to lower environmental impact through high efficiency operation and low global warming potential refrigerants. He has been instrumental in growing the company’s portfolio of comprehensive building solutions including energy services, controls and digital offerings.
“I’m honored to serve as CEO for Trane Technologies, as we continue to push the boundaries on climate innovation,” said Regnery. “We have the best team, strong customer relationships, and a passion to innovate, grow and create value for all our stakeholders – our team members, customers, communities and shareholders.”
Lamach, who was named CEO in February 2010 and elected chair of the Board of Directors in June 2010, will become executive chair. In this role, Lamach will continue to chair the Board and work closely with Gary Forsee, incoming lead independent director, on governance matters, and with Regnery on the company’s long-term strategic plans, until his retirement sometime in the first half of 2022.
Under Lamach’s leadership, Trane Technologies has transformed from a diversified industrial manufacturing company, formerly Ingersoll Rand, to an industry-leading climate innovator with consistent top tier financial and environmental, social and governance (ESG) performance. Since joining the company in 2004, Lamach led the creation of the company’s proprietary business operating system and its successful deployment of lean, which has resulted in a strong operating company, robust innovation and consistent business results. Lamach’s purpose-driven approach has built a widely recognized culture of inclusion and high engagement, with a shared purpose centered on sustainability.
Lamach has led multiple strategic evolutions, including the spin-off of the company’s security technologies business and the creation of Allegion in December 2013. Most recently, Lamach orchestrated the highly successful separation of the company’s industrial businesses and combination with Gardner Denver through a Reverse Morris Trust transaction, which in March of 2020 culminated in the launch of the remaining company, Trane Technologies plc, as a purpose-driven climate innovator. The company’s total shareholder return1 since Lamach became CEO in February 2010 is 744%, nearly twice the total shareholder return of the S&P 500.
In 2019, Lamach was named one of Harvard Business Review’s top performing CEOs and listed by Forbes among America’s 100 Most Innovative Leaders. He is a leader in the manufacturing sector and has served as chair of the National Association of Manufacturers since June 2019. Lamach also serves on the Board of Directors of PPG Industries.
“The execution of our succession plan will ensure a smooth transition, continuity of leadership and a continued focus on delivering sustainable, top-tier financial performance,” said Dick Swift, retiring lead director for Trane Technologies, and former chair, president and CEO for Foster Wheeler Ltd. “On behalf of the Board of Directors, we are grateful to Mike for his outstanding leadership, which has led to substantial increases in the company’s market capitalization, shareholder value and ESG performance.
“Looking ahead, Trane Technologies and its stakeholders will benefit from the experience of two extremely strong leaders – Mike, in his role as executive chair and Dave as CEO. Dave is the right choice to lead the company into its next chapter given his proven track record, strong vision, and unwavering commitment to advance the company’s growth, performance and long-term value.”
About Trane Technologies
Trane Technologies is a global climate innovator. Through our strategic brands Trane and Thermo King, and our environmentally responsible portfolio of products and services, we bring efficient and sustainable climate solutions to buildings, homes, and transportation. Learn more at tranetechologies.com
.
1 Total shareholder return since February 2, 2010 includes pro rata value of shares received from Allegion spin-off and industrial Reverse Morris Trust transaction.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210604005078/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Access Advance Announces New Effective Discount Rates for Its Multi-Codec Bridging Agreement, Starting on January 1, 202711.11.2026 20:18:00 CET | Press release
Access Advance LLC today announced that the Licensors of the HEVC Advance and VVC Advance Patent Pools have independently approved a two-step, phased reduction in the effective royalty discount available under the Multi-Codec Bridging Agreement (MCBA) for Licensees of both pools who sign the MCBA on or after January 1, 2027. Licensees that join both the HEVC Advance and VVC Advance Patent Pools and execute the MCBA on or before December 31, 2026, will secure the current MCBA rates, resulting in an effective discount of up to 50%. Licensees that sign on or after January 1, 2027 will receive a reduced discount as further described below. The MCBA is an administrative agreement, not a separate license, that lets Licensees of both HEVC Advance and VVC Advance Patent Pools pay a single, reduced royalty rate for products that include both HEVC and VVC codecs. Today the MCBA rate for a dual-codec product is the same as the VVC Advance single codec product rate; up to 50% of what a Licensee wo
Angel Aligner Unveils Six Innovations for 202711.11.2026 17:23:00 CET | Press release
Angel Elevates the Orthodontic Specialty by Focusing on Complex-Case Solutions Angelalign Technology Inc. (6699.HK) (“Angel”), a global clear aligner leader, has unveiled six new clinical innovations, including SuperElastic (MC-SE)* aligner material, a Deepbite Solution for significantly expanded indications, and the Adapt-MATMsystem for next generation growth guidance for young patients. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110338654/en/ Unveiling Angel's 2027 Innovations. Orthodontists and opinion leaders have long remarked about Angel’s clinical excellence. Orthodontics educator and thought leader Dr. David Sarver said: “In over 4 decades, I’ve never had a parent say I’d be happy if you ensure that my child’s treatment results are average.” Angel is committed to elevating the orthodontic specialty well above the average, especially as more competition and harder referral cases demand outstanding results. Bind
Abu Dhabi Future Health Summit Concludes with Research Partnerships and New Programmes to Advance Prevention and Health Innovation11.11.2026 15:58:00 CET | Press release
Partnerships span drug discovery, clinical research, preventive and reproductive health Launch of an AI Clinician Framework and a Trusted Research Environment for health and genomic data Four whitepapers address genomics, therapeutics, fertility and wearable technologies New programmes support health innovators and entrepreneurs More than 17,300 visitors from 85 countries, with 130 speakers across 45 sessions Held under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, Abu Dhabi Future Health Summit 2026 concluded with agreements and initiatives spanning drug discovery, clinical research, preventive and reproductive health, alongside research and entrepreneurship programmes that will sustain collaboration beyond the Summit. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261111545964/en/ The Summit is the annual flagship gath
De' Longhi Group: Record Results for the Quarter, With Revenue Growing by 7.7% and Net Profit Pertaining to the Group Progressing Significantly by 19%11.11.2026 15:58:00 CET | Press release
The Board of Directors of De' Longhi S.p.A. approved the consolidated results1 for the nine months of 2026. In the nine months the Group achieved: revenues for € 2,621.3 million, up by 6.5% with respect to 2025 (+7.7% at constant currency); an adjusted2 Ebitda of € 455.2 million, equal to 17.4% on revenues (vs. 15.8% with respect to last year); a net income pertaining to the Group equal to € 225.8 million (+20.4% with respect to last year); a positive net financial position equal to € 606.0 million. CEO Fabio de' Longhi commented: “The Group delivered its thirteenth consecutive quarter of organic revenue growth, underscoring our proven ability to capitalize on industry opportunities and respond promptly to market evolution, while ensuring consistent performance across both divisions. The professional business recorded a strong acceleration, spanning all geographies and brands, with revenues growth exceeding 35% for both the quarter and the nine-month period, this against an already par
Starr Chile Assigned A Rating from AM Best11.11.2026 14:30:00 CET | Press release
Starr, a global insurance and investment organization, today announced that the global credit rating agency AM Best has assigned Starr International Seguros Generales S.A. (Starr Chile) a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of a+ (Excellent). The outlook for both credit ratings is positive. The rating reflects Starr’s strong balance sheet and Starr Chile’s successful implementation of Starr’s business model. AM Best also cited Starr’s operating performance, a favorable business profile and enterprise risk management as key factors supporting the positive rating. “This strong rating is another important endorsement of Starr’s business model as we continue to build our presence in Latin America,” said Jeff Greenberg, chairman and co-CEO of Starr. “It reflects the financial strength, underwriting discipline and experienced teams that underpin our business around the world, reinforcing the confidence brokers and clients can place in Starr.” Starr
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom