Ingersoll-Rand appoints prez, COO
Diversified products and services company Ingersoll-Rand Company Limited has announced Michael Lamach has been named president and chief executive officer, according to Forbes
Lamach has been with Ingersoll-Rand for five years, having most recently served as president of the company’s Trane Commercial Systems division. Other positions he’s held over the years include president of Security and Safety Sector and senior vice president.
Prior to joining the company, Lamach spent 18 years at Johnson Controls, holding a number of global leadership roles, including group vice president and managing director of Europe/Asia.
“I look forward to continuing to work closely with Mike to ensure that Ingersoll Rand can realize the potential of our transformed portfolio of businesses,” Chief Executive Herbert Henkel said in a statement.
Headquartered in Montvale, N.J., Ingersoll-Rand is a diversified company specializing in home and building services, security, transportation and recreation. Its brands include Schlage, Club Car, Hussmann, Trane and Thermo King.
Director of Public Affairs Paul Dickard gave DailyVista more information on Lamach’s newly created role.
He said that since Lamach just stepped into the position, it is still too early to determine his or the company’s direction. The board of directors created the role to ensure a smooth transition for Henkel’s recently announced retirement in 2010, with a specific date to be determined.
Dickard said that while it has not been officially confirmed that he will be Ingersoll-Rand’s next CEO, Lamach will have a “pretty strong case” to present to the company’s board of directors.
“Hopefully by (2010) Mike will have learned the operations of all the businesses and governance related matters that would be required,” Dickard said, adding that Lamach will continue his leadership of the Trane division.
The heads of each of Ingersoll-Rand’s four remaining business segments – Club Car, Schlage, Thermo King and Hussman – will report directly to Lamach, as will the senior vice presidents of various staff positions. Along with Henkel, this Enterprise Leadership team meets on a monthly and quarterly basis to review the operations of each segment, Dickard said.
According to Dickard, Ingersoll-Rand allows each of its brands to handle its own marketing, with minimal input from the parent company. Thusly, each division has its distinct marketing strategy.
“There are a lot of complexities in how we go to market,” he said. “Each of our businesses is given the latitude to determine the best marketing strategy.”
Additionally, Dickard added that with the exception of Trane, Lamach would not be dictating the strategy of Ingersoll-Rand’s brands. However, on a corporate level, Ingersoll-Rand leverages its brands as cross-selling opportunities, and has found success with that.
Dickard said that Ingersoll-Rand’s long-term plans are still in the works, but the company is examining how to operate given the ongoing economic challenges.
“We’re doing a lot of restructuring, and unfortunately that’s led to some closures and layoffs,” he said. “For the foreseeable future, the demand for our products across all businesses is certainly not as strong as it was last year.”
While he couldn’t divulge specifics on which agencies Ingersoll-Rand partners with for its various brands, Dickard said that the company welcomes partnerships with companies that make sense.
“I would say that our company doesn’t have a ‘not-invented-here’ syndrome. We’re always open to good partnership opportunities,” he said.
According to The Nielsen Company, Ingersoll-Rand spent about $770,000 on media in 2007, all of which was spent on B-to-B marketing efforts.