MILWAUKEE - A. O. Smith Corporation (NYSE: AOS), a global leader in water heating and treatment, announced the retirement of Mark Petrarca, Senior Vice President of Human Resources and Public Affairs, effective August 1. Curt Selby, a former executive of the company, has been named as his successor.
Petrarca has been with A. O. Smith since June 1999, contributing significantly to the company's growth through various acquisitions and divestitures. He has been commended for his role in shaping the company's culture and performance, making it a premier employer globally. Kevin Wheeler, Chairman and CEO of A. O. Smith, expressed gratitude for Petrarca's dedication and adherence to the company's values.
Selby, who will rejoin A. O. Smith on May 16 to ensure a smooth transition, has a history with the company dating back to 2001. He has held roles as Vice President of Global Human Resources and Director of Human Resources within A. O. Smith's Electrical Products Company. After the acquisition of the division by Regal Beloit (NYSE:RRX) Corporation in 2011, Selby served as Vice President of International Human Resources. Most recently, he was the Chief Operating Officer at Board & Brush Creative Studio, overseeing its expansion to over 200 franchised locations.
Wheeler expressed confidence in Selby's leadership abilities and his understanding of the company's legacy and values. He anticipates a seamless transition that will continue to drive A. O. Smith's human resources strategy and global business growth.
InvestingPro Insights
As A. O. Smith Corporation (NYSE: AOS) welcomes a new era of leadership in human resources, investors and stakeholders may find it reassuring to note the company's strong financial health and market performance. According to real-time data from InvestingPro, A. O. Smith holds a market capitalization of $12.67 billion, reflecting the company's solid standing in the industry. The current P/E ratio, a measure of the company's current share price relative to its per-share earnings, stands at 22.29, with an adjusted figure of 21.56 for the last twelve months as of Q1 2024. This suggests that investors are willing to pay a premium for the company's earnings, which could be indicative of strong future growth prospects.
In terms of profitability, A. O. Smith has demonstrated a commendable track record, as evidenced by an InvestingPro Tip highlighting that the company has been profitable over the last twelve months. This aligns with the company's reputation for consistent performance and innovation in its product offerings. Moreover, the company's dividend growth over the last twelve months as of Q1 2024 is 6.67%, and it has raised its dividend for 15 consecutive years, which is another InvestingPro Tip that underscores A. O. Smith's commitment to returning value to shareholders.
For investors seeking further insights and analysis, there are additional InvestingPro Tips available, including detailed metrics on the company's cash flow, earnings revisions by analysts, and stock price volatility. In total, there are 11 more tips listed on InvestingPro for A. O. Smith, which can be accessed at https://www.investing.com/pro/AOS. For those interested in a deeper dive into A. O. Smith's financials and market potential, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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