A. O. Smith Corporation (NYSE: AOS) announced that Executive Chairman Kevin Wheeler will retire effective July 1, with President and CEO Stephen Shafer elected by the board of directors to assume the chairman role upon Wheeler's departure.

Wheeler, who joined A. O. Smith in 1994 as a regional sales manager, served in various senior leadership roles before becoming president and CEO in 2018 and chairman in 2020. He will remain a member of the company's board of directors following his retirement.

"Kevin's impact on A. O. Smith spans three decades," said Chris Mapes, lead director of the board. "During his tenure, the company expanded its global footprint, strengthened its portfolio through multiple acquisitions and successfully navigated the challenges of the COVID-19 pandemic while maintaining strong operational performance."

Shafer, who has served as president and CEO since July 2025, becomes the 11th CEO to also hold the chairman role in the company's history. He joined A. O. Smith in 2024 as president and chief operating officer. Before joining the company, Shafer held roles at 3M Company across multiple business units in the U.S. and China, and earlier worked at McKinsey & Co. and Ford Motor Company.

As chairman, Shafer will lead the board and continue to oversee the company's global operations, strategic direction, profitability, and shareholder return. A. O. Smith is headquartered in Milwaukee, Wisconsin, and manufactures residential and commercial water heating equipment, boilers, and water treatment products.