Blackstone (NYSE: BX) has announced the appointment of Ross B. Shuster as CEO of Climate Technologies, a new standalone business being formed through the company’s majority stake acquisition in Emerson Electric Co. (NYSE: EMR).
According to Blackstone, the standalone Climate Technologies business will include the Copeland compressor business and the entire portfolio of products and services across all HVACR end-markets, representing approximately $5 billion of Emerson’s fiscal 2022 sales.
Shuster was previously CEO at Howden, a provider of air and gas handling products and services, and also served as president within the Climate, Controls & Security Global Business at United Technologies.
“The Climate Technologies business is ideally positioned to help address global climate challenges, including contributing to energy efficiency and accelerating the global trend of electrification,” said Shuster. “Now with the focus of a standalone company, and with the support of Blackstone, we are poised to build this already strong business into an unmatched global leader in the areas of energy efficiency and sustainability.”