Lennox Picks Geoff Dethlefsen To Lead Commercial Segment As Joe Nassab Retires From Role
Nassab moves to a $180,000-a-year advisory job through February 28, 2028, while the commercial unit's head takes over January 1.
Lennox, which makes heating, cooling and refrigeration equipment, said Monday that Joe Nassab will retire on December 31 as head of its Building Climate Solutions segment, and that Geoff Dethlefsen will take over January 1, according to an 8-K filing.
Nassab's advisory deal
Nassab, executive vice president and president of the segment, told the company on October 30 that he would retire from the role. On Monday he signed a transition agreement that replaces his earlier employment agreement.
From January 1, 2027, through February 28, 2028, he will serve as a strategic advisor reporting to the chief executive. His duties include supporting relationships with key customers, distributors and partners, coaching leaders, and advising on special projects.
He will be paid an annual salary of $180,000, keep participating in company benefit plans, and remain eligible for continued vesting of his outstanding equity awards. He also takes on confidentiality, non-competition and non-solicitation covenants lasting 24 months after the advisory period ends.
The successor from commercial HVAC
Dethlefsen, now vice president and general manager of Lennox Commercial HVAC, becomes executive vice president and president of Building Climate Solutions on January 1, 2027. He joined Lennox in 2024 and previously was president of Hammerforce USA, according to the company's press release.
Chief Executive Alok Maskara said the commercial HVAC unit has grown revenue and margins, improved operations and opened a new manufacturing plant in Saltillo under Dethlefsen. His record of "commercial execution, operational leadership, and disciplined capacity expansion" positions him to keep accelerating growth and expanding margins across the segment, Maskara said.
Nassab joined Lennox in 2010 to run Allied Air and in 2022 was named to lead the North American commercial heating and cooling business, later renamed Building Climate Solutions. The company credits him with turning it into a broader equipment and services platform, including the acquisition of AES.
A segment growing 24%
Building Climate Solutions makes rooftop and other equipment for light commercial buildings, provides installation and service, and builds commercial refrigeration gear for supermarkets, warehouses and data centers. It had net sales of $1,851.9 million in 2025, against $3,343.4 million for the residential Home Comfort Solutions segment.
In its third-quarter results, the segment's revenue rose 24%, including 15% organic growth. Its margin was 26.2%, down 110 basis points (1.1 percentage points) from record levels a year earlier.
Dethlefsen takes charge of the segment on January 1, 2027, with Nassab advising through February 28, 2028.
Sources
- 8-K Filing — LENNOX INTERNATIONAL INC (LII) — SEC EDGAR
- Exhibit ex99111226pressrelease.htm — LENNOX INTERNATIONAL INC 8-K exhibit — SEC EDGAR
- Lennox International Inc (LII) (Q3 2026) Earnings Call Highlights: Revenue Growth Offset by ... — Yahoo Finance
- Lennox Announces Building Climate Solutions Leadership Transition — prnewswire.com
- Lennox Reports 2026 Third Quarter Earnings Results — prnewswire.com
