Modine Names Jonathan Schlemmer as General Manager, Heating

Rhea-AI Summary

On September 28, 2021, Modine Manufacturing Company (NYSE: MOD) announced the appointment of Jonathan Schlemmer as General Manager of Heating. Schlemmer, with extensive experience from Regal Beloit and General Electric, will lead Modine's Heating division. This role emphasizes growth in the heating market, leveraging Modine’s significant install base and strong brand for both replacement and new installations. With 2021 revenues of $1.8 billion, Modine aims to enhance its presence in the hydronics market and pursue inorganic growth.

Positive

• Appointment of Jonathan Schlemmer as General Manager of Heating, bringing extensive industry experience.
• Focus on growth in the heating market and hydronics sector, indicating strategic business expansion.
• Strong revenue performance in fiscal 2021, reporting $1.8 billion.

Negative

• None.

RACINE, Wis., Sept. 28, 2021 /PRNewswire/ -- Modine Manufacturing Company (NYSE: MOD or the "Company"), a diversified global leader in thermal management technology and solutions, today announced that Jonathan Schlemmer has been appointed General Manager, Heating. In this role, Mr. Schlemmer will lead the Company's Heating business and will report to Eric McGinnis, Vice President, Building HVAC.  Modine produces gas-fired, hydronic, electric and oil-fired unit heaters to the North American residential and commercial HVAC markets.

Mr. Schlemmer most recently served as the Chief Operating Officer for Regal Beloit Corporation. In his 15 years with Regal Beloit, he also served as Senior Vice President & Business Leader, Asia Pacific and Vice President of Technology. Prior to that Mr. Schlemmer spent 18 years with General Electric Industrial Systems. 

"I am very pleased to have Jon join the Modine team," said McGinnis. "Heating is a targeted growth market for us, and I'm confident that Jon can help us reach our aggressive targets. Our significant install base and strong brand helps us leverage the replacement market as well as support new installations. In addition, we want to become a more significant player in the hydronics market, and to focus on inorganic growth to expand our geographic and product reach."

About Modine

Modine, with fiscal 2021 revenues of $1.8 billion, specializes in thermal management systems and components, bringing highly engineered heating and cooling components, original equipment products, and systems to diversified global markets through its four complementary segments: BHVAC, CIS, HDE, and Automotive. Modine is a global company headquartered in Racine, Wisconsin (USA), with operations in North America, South America, Europe and Asia. For more information about Modine, visit www.modine.com.

Investor & Media Contact

Kathleen Powers
(262) 636-1687
kathleen.t.powers@modine.com

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SOURCE Modine Manufacturing Company

FAQ

What is the significance of Jonathan Schlemmer's appointment at Modine (MOD)?

Jonathan Schlemmer's appointment as General Manager of Heating is significant for Modine as it aims to enhance its growth in the heating market, particularly in hydronics.

What revenue did Modine (MOD) report for fiscal 2021?

Modine reported revenues of $1.8 billion for fiscal 2021.

How does Modine (MOD) plan to grow its heating business?

Modine plans to leverage its significant install base and strong brand to enhance its heating business, focusing on replacement markets and new installations.

What experience does Jonathan Schlemmer bring to Modine (MOD)?

Jonathan Schlemmer brings over 15 years of experience from Regal Beloit, where he served as COO, and has held various leadership roles at General Electric.

Where is Modine Manufacturing Company (MOD) headquartered?

Modine Manufacturing Company is headquartered in Racine, Wisconsin.