AAON, Inc. (NASDAQ: AAON) has announced several key changes and updates. The company's board of directors has been expanded from eight to nine members, with the appointment of Matt J. Tobolski, Ph.D., as the new director, effective May 13, 2025. Dr. Tobolski, who is 41 years old, has also assumed the roles of president and CEO of the company, succeeding Gary D. Fields. Fields will continue to serve as a member of the board of directors and act as a special advisor. Prior to his appointment as president and CEO, Dr. Tobolski was the president and COO of the company since January 2024.
Additionally, AAON has declared its next regular quarterly cash dividend of $0.10 per share (or $0.40 annually). This dividend will be payable on June 27, 2025, to stockholders of record as of the close of business on June 6, 2025.
AAON, Inc., founded in 1988, is a global leader in HVAC solutions for commercial, industrial, and data center indoor environments. The company's highly configurable and custom-made equipment is designed to meet exact needs, offering greater efficiency, performance, and long-term value. Its equipment is sold under the AAON and Basx brands, and the company is headquartered in Tulsa, Oklahoma.
These changes come at a time of transition for the company, with a new CEO and an expanded board of directors signaling a shift in leadership and governance. The declaration of a regular quarterly cash dividend indicates the company's commitment to returning value to its shareholders. Today the company's shares have moved -0.74% to a price of $104.11. Check out the company's full 8-K submission here.
