Watsco Announces Advisory Board Appointments

MIAMI, June 08, 2021 (GLOBE NEWSWIRE) -- Watsco, Inc. (NYSE: WSO) – Watsco, Inc. today announced appointments to its Advisory Board.

In 2019, Watsco formed an Advisory Board to provide thoughts, advice, and non-binding recommendations to its Board of Directors. Members of the Advisory Board may include possible future Board members, former Board members and other individuals that may be able to provide valuable insight. Recent appointments to Watsco’s Advisory Board include:

Ana Lopez-Blazquez
Ana Lopez-Blazquez is Executive Vice President, Chief Strategy & Transformation Officer for Baptist Health and Chief Executive Officer of Baptist Health Enterprises, a subsidiary of Baptist Health. She is responsible for strategy development and execution with particular emphasis on driving the growth agenda and brand management of Baptist Health across South Florida. As Chief Transformation Officer, Ms. Lopez-Blazquez provides overall strategic leadership and direction for all aspects of business transformation including implementation strategy. Ms. Lopez-Blazquez joined Baptist Hospital of Miami in 1987 as Director of Planning and has led their strategic planning and business/market development functions since that time.

LeShelle May
LeShelle May is an accomplished computer engineer recognized for her leadership and innovation in the development of software and web applications. Ms. May led a distinguished 21-year career at CNN in Atlanta as a senior software manager and developer. She headed several advanced projects, including CNNgo, which enables online viewers to watch live news coverage and a video content management system known as MS2, which won CNN a Technology & Engineering Emmy Award in 2000. Prior to CNN, she worked in various technology positions for Indus International and BellSouth Corp.

Lorna Meyer
Lorna Meyer is a Managing Director with Bank of America Merrill Lynch’s Private Wealth Management Group in San Francisco, California. She joined Merrill Lynch in 2001 and, with over 45 years of experience, provides comprehensive wealth management services throughout Silicon Valley and the Bay Area and has been recognized by Forbes as one of the top 250 wealth advisors in the country and one of the top 25 women wealth advisors nationwide.

Troy Rice
Troy Rice is Vice President and General Manager of FPL Energy Services, a subsidiary company of NextEra Energy, Inc., a leading clean energy company and a provider of value residential, commercial and public-sector products and services. NextEra Energy is the parent company of Florida Power & Light, the largest rate-regulated utility in the United States as measured by retail electricity produced and sold. Mr. Rice joined NextEra in 2002 and has held a number of leadership positions throughout his career.

Albert H. Nahmad, Watsco’s Chairman and CEO said: “Our advisory board members bring an incredible variety of experience and talent in terms of business entrepreneurship and technology. Given their diverse backgrounds, we also will ask their help as to how we can be a significant, long-term contributor in the efforts to address climate change, given the key role that products we sell play in energy conservation. There are an estimated 110 million HVAC systems installed in the U.S., many of which are operating under old efficiency standards. Today’s minimum efficiency standards are helpful at reducing energy consumption, but even greater conservation can be achieved with the products that we offer. We have an important role to play in educating contractors and consumers on the benefits of these higher-efficiency systems that both reduce energy consumption and cost of ownership. As the industry leader, we can do so at a scale greater than our competitors and we will collaborate with our OEM partners to lead these efforts.”

About Watsco

Watsco is the largest distribution network for heating, air conditioning and refrigeration (HVAC/R) products with locations in the United States, Canada, Mexico and Puerto Rico, and on an export basis to Latin America and the Caribbean. Watsco estimates that over 300,000 contractors and technicians visit or call one of its 651 locations each year to get information, obtain technical support and buy products. The Company believes there is long-term opportunity to be a significant participant and contributor in efforts to address climate change. HVAC/R products provide comfort to homes and businesses regardless of the outdoor climate. Older systems often operate below current government-mandated energy efficiency and environmental standards, resulting in higher energy use and costs to homeowners. Sales of higher-efficiency replacement systems have long been a fundamental opportunity in Watsco’s marketplace. Watsco plans to actively collaborate with its OEM partners and key stakeholders to lead these ongoing efforts in its marketplace. Additional information about Watsco may be found at www.watsco.com.

This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “will,” “would,” “anticipate,” “expect,” “believe,” “designed,” “plan,” or “intend,” the negative of these terms, and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to changes in economic, business, competitive market, new housing starts and completions, capital spending in commercial construction, consumer spending and debt levels, regulatory and other factors, including, without limitation, the effects of supplier concentration, competitive conditions within Watsco’s industry, the seasonality of product sales, the ability of the Company to expand its business, insurance coverage risks and final GAAP adjustments. Detailed information about these factors and additional important factors can be found in the documents that Watsco files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. Watsco assumes no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable law.

Barry S. Logan
Executive Vice President
(305) 714-4102
blogan@watsco.com