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• New Website Heats Up Debate On Water Heaters: Is Tank or Tankless Better?

• Raypak Named Vendor of the Year By Pool Industry Distributor Group

• Rheem Names Mike Barnes Director of Residential National Accounts

• Raypak Strengthens Heat Pump Portfolio With Acquisition of Manufacturing Assets

• Rheem Appoints
  JR Jones President and Chief Executive Officer

• Rheem Appoints Christopher Peel Corporate Senior VP and Chief Operating Officer

• Rheem Selects Industry Veteran Peter Reynolds To Lead Water Heating Division

• Rheem Appoints
  Tim Shellenberger to Vice President, General Manager, Tankless Water Heating

• Rheem Extends
  RCR Sponsorship Agreement Through 2009

• Rheem Announces
  New Primary Racing Sponsorship with Kevin Harvick, Inc.

Rheem Appoints JR Jones President
and Chief Executive Officer

ATLANTA (March 11, 2008) — Rheem Manufacturing Company CEO, I. S. Farwell, today announced the appointment of JR Jones to succeed him as President and Chief Executive Officer, effective March 31, 2008. Mr. Farwell also announced that he will assume the new role of Special Advisor to the company for the remainder of 2008. Read more...

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Mr. Jones was named Corporate Senior Vice President and Chief Operating Officer in February 2007, responsible for the company’s heating, cooling and water heating business units. Jones, a mechanical engineer, began his career with the Rheem Air Conditioning Division in 1983 as a project engineer. After serving as principal design and development engineer at the Trane Company; Director Product Development and Vice President R&D and Product Marketing at Heatcraft Refrigeration; and Vice President and General Manager Refrigeration Products Division at Lennox Industries, Jones returned to Rheem in 2002 as President of the Rheem Air Conditioning Division.

In making his announcement, Mr. Farwell said, “JR Jones has consistently demonstrated strong and solid leadership throughout his career at Rheem and within the industry. I am confident that JR will bring the leadership needed to accomplish both our business growth strategies and the vision of a unified company that exercises to its fullest advantage the many unique synergies available to Rheem to drive positive business results throughout the Company.”

Farwell also announced the commencement of an executive search to replace Jones as Corporate Vice President and COO. Reporting to Jones will be Simon Parfitt, Corporate Vice President Finance; William Ostan, Corporate Vice President Human Resources; Peter Gelfman, Corporate Vice President, Secretary and General Counsel; and the Chief Operating Officer.

Today’s appointment of Jones continues the progressive evolution and organizational restructuring of Rheem that began more than a year ago. Rheem continues to strengthen its management team, re-purpose and add new facilities, expand its product portfolio, leverage its considerable technical resources, enhance its vast global distribution, invest in innovation and technology, and re-energize its brands.

About Rheem Manufacturing Company
Rheem Manufacturing Company (www.rheem.com) is a privately held company with headquarters in Atlanta, Ga. In its 81st year of operation, the company manufactures a full-line of high-quality residential and commercial heating, cooling, water heaters, swimming pool heaters and commercial boilers throughout North America and world markets. The premium brands of Rheem Manufacturing Company include Ruud, Raypak and Rheem. Rheem Manufacturing Company is the major associate sponsor of Richard Childress Racing and the No. 29 team driven by Kevin Harvick, 2007 Daytona 500 Champion, 2007 Craftsman Truck Series Champion and 2006 Busch Series Champion. Rheem is also the primary sponsor of Kevin Harvick Inc.’s No. 33 and No. 77 car for four high-profile Nationwide Series races in 2008.

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