FORT WAYNE, IN, May 26 /CNW/ - WaterFurnace Renewable Energy, Inc. (WFI
on the Toronto Stock Exchange) named Tom Huntington as President and Chief
Executive Officer effective May 26, 2009. Huntington will take over from Bruce
Ritchey, who is retiring from the Company after 10 years in the position.
Ritchey had this to say about the appointment, "I am very happy that the
board of directors has selected Tom Huntington as my successor. I have known
Tom for 14 years and can think of no one more qualified or better suited for
the job. I am excited as a shareholder to see what he can do for the business.
I am also very happy for our employees and customers, because I know they will
find Tom Huntington to be a terrific person to work for and to work with."
Mr. Huntington comes to WaterFurnace from the Building Efficiency
Division of Johnson Controls, Inc. In 2005 Johnson Controls acquired York
International where Mr. Huntington was President of York's $1 billion Unitary
Products Group from 2000 until 2006. Mr. Huntington continued to run that
Group under Johnson Controls. Prior to being named President at York Unitary
Products Group, Tom served as Senior Vice President of Engineering and Vice
President of Global Sales and Marketing at Bristol Compressors. From 1992
through 1995 Mr. Huntington helped grow Evcon/Coleman Industries from $35
million to $150 million in sales at which time the Company was acquired by
York International. Huntington continued as General Manager of Evcon
Industries under York until 1997.
Tom Huntington is well known within the Heating and Air Conditioning
industry. He was the past Chairman of the Gas Appliance Manufacturer's
Association (GAMA) and was involved in the consolidation of the industry's two
governing bodies (Air Conditioning and Refrigeration Institute and Gas
Appliance Manufacturers Association). He is currently on the Planning Board of
the resulting consolidated organization, The Air Conditioning, Heating,
Refrigeration Institute (AHRI). He is also on the board of NATE (North
American Technician Excellence) the industry's testing and certification
organization for service technician training.
Mr. Huntington holds a BS in Electrical Engineering Technology from
Rochester Institute of Technology. Upon graduation he completed a two year
Manufacturing Management Training Program with General Electric before going
on for a Master of Science in Engineering Administration from Syracuse
Tim Shields, Chairman of the board of WaterFurnace had this to say, "The
board was very pleased with the numerous highly qualified candidates that were
attracted to this position. We are delighted to have been able to attract Tom
Huntington. His breadth of experience in our industry will prove invaluable.
Tom is known personally by two of our board members who had worked with him in
the past and had highly recommended him for the position. We believe Tom will
be a great fit for our culture and has all the tools necessary to build on the
very strong platform he is inheriting here."
More Information: Additional information is available on the Company's
web site: www.waterfurnace.com. WaterFurnace Renewable Energy, Inc. is traded
in both Canadian dollars and U.S. dollars on the Toronto Stock Exchange under
the symbol WFI for Canadian dollars and WFI.U for U.S. dollars.
Risk and Uncertainties: This press release contains certain
forward-looking statements that may or may not be realized. Investors should
not rely solely on this information to make investment decisions. The
Company's sales are related to the cost and stability of electricity, fuel
oil, propane and natural gas. Federal, state and provincial building codes and
energy incentives can also impact sales. The Company is subject to standard
risks associated with most companies, such as normal competitive pressures.
For further information:
For further information: Bruce Ritchey, President and CEO, 9000
Conservation Way, Fort Wayne, IN, 46809-9794, (260) 479-3224