Carrier Global Corporation Announces New Board Member Amy Miles

Carrier Global Corporation Welcomes Amy Miles to Its Board

Carrier Global Corporation (NYSE: CARR), a leader in intelligent climate and energy solutions, recently appointed Amy Miles, the former CEO of Regal Entertainment Group, to its Board of Directors. This strategic move aims to bolster Carrier's commitment to innovation and excellence as it continues to grow within the Building Products sector.

Amy Miles: Background and Expertise

Amy Miles brings a wealth of experience from her previous leadership role at Regal Entertainment Group, where she served as Chair of the Board and CEO from 2009 to 2018. Her vast expertise in business management and innovation is expected to significantly contribute to Carrier's future projects. With a background that spans various industries, Miles is poised to enhance the company’s focus on customer-centric strategies and operational performance.

Leadership Perspectives

David Gitlin, Chairman & CEO of Carrier, commended Miles's impressive history of boosting shareholder value and investing in technology aimed at improving customer experiences. He expressed confidence that her presence on the board would drive long-term growth and benefit shareholders.

Expanding Governance with Cross-Industry Knowledge

In addition to her role at Carrier, Miles is currently active on the boards of The Gap, Inc. and Amgen Inc., where she holds critical positions in their audit and governance committees. Her diverse board experience will be invaluable as she takes on similar responsibilities at Carrier, particularly in its Audit and Governance Committees.

Carrier's Commitment to Innovation and Sustainability

Carrier is dedicated to advancing technologies that prioritize both environmental sustainability and customer satisfaction. The company’s approach emphasizes a diverse workforce and innovative solutions, reflecting its standing as a leader in the industry. Notably, Carrier has a solid track record of increasing its dividend payouts for five consecutive years, currently enjoying a dividend yield of 1.32%.

Recent Performance Highlights

Aside from the board appointment, Carrier Global Corporation has garnered attention for its recent operational achievements. The company reported a notable 21% increase in Q3 sales, reaching $6 billion, largely thanks to a 26% boost in HVAC segment sales propelled by the acquisition of Viessmann Climate Solutions. The financial community remains optimistic, with RBC Capital Markets maintaining an Outperform rating, albeit slightly adjusting the price target to $86.

Similarly, Goldman Sachs reinstated a Buy rating, recognizing Carrier's growth potential in the HVAC sector. Recently, the company issued €750 million in euro-denominated notes at a 3.625% rate due in 2037, utilizing the funds and existing cash to redeem its 4.375% notes due in 2025. This financial maneuver showcases Carrier's strategic focus on optimizing its capital structure.

Dividend Growth and Leadership Changes

Carrier recently announced an increase in its quarterly dividend to $0.225 per share, an 18% rise from prior amounts, underscoring its commitment to returning value to shareholders. In terms of executive leadership, the company is undergoing a transition with the departure of Senior Vice President and Chief Legal Officer Kevin O'Connor, while Francesca Campbell is set to take over this crucial role. Collectively, these changes mark a pivotal moment for Carrier, reflecting its ongoing dedication to strategic improvement and robust performance.

Frequently Asked Questions

What is Carrier Global Corporation?

Carrier Global Corporation is a leading provider of intelligent climate and energy solutions, committed to innovation and sustainability in the Building Products sector.

Who is Amy Miles?

Amy Miles is the former CEO of Regal Entertainment Group and has been appointed to Carrier's Board of Directors, bringing extensive experience in business leadership.

What impact will Amy Miles have on Carrier?

With her diverse background and strategic insight, Miles is expected to enhance Carrier's customer-centric innovation and operational efficiency.

How has Carrier's recent performance been?

Carrier has reported impressive sales growth, including a 21% increase in Q3 sales, largely attributed to its HVAC segment.

What is Carrier's approach to dividends?

Carrier has consistently raised its dividends over the years, recently increasing its quarterly payout to $0.225 per share, indicating strong financial health and commitment to shareholder value.

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