Alok Maskara on strategic focus
From The Art of Reinvention: The Life Cycle of a CEO with Alok Maskara · · Spencer Stuart
“We realized Europe had different technology compared to North America. Our market position was very weak. We were like eighth or 10th player in Europe maybe third and fourth player in North America. We looked at the products were very different. Europe was mostly ductless product. US is very ducted product. And we looked at who are the customers, who are the competitors and came to the conclusion of two fundamental things that they are very distinctly different market. There's not much in common that helps us get extra scale. So then it's an option to be in Europe or not. Second piece we came and said we really don't have the right to win there. The competition there is was such and where we were positioned it would have required us to invest much more heavily to win in Europe with a lower chance of succeeding and lower profitability. So we wanted to direct our investment somewhere else where we had the right to win that was North America market.”
On , Alok Maskara, Chief Executive Officer, President & Director at Lennox International, spoke about strategic focus during The Art of Reinvention: The Life Cycle of a CEO with Alok Maskara on Spencer Stuart.
About Alok Maskara
Alok Maskara, CEO of Lennox, has discussed the company's efforts to navigate tariff-related cost pressures and operational challenges. During earnings calls in 2025 and early 2026, Maskara described implementing multiple price increases to offset direct and indirect tariff impacts, with total cost inflation initially projected at 9% before later estimates were revised lower. He noted that approximately 90% of Lennox's cost structure is in North America, with about 10% facing direct tariff exposure. Maskara also addressed the company's inventory buildup during the R-454B refrigerant transition, stating that the company prioritized product availability for dealers despite higher inventory levels, and expressed confidence in drawing down inventory over time. Maskara has emphasized a focus on customer experience and operational improvements. He recounted an instance where he visited a distribution center that appeared empty despite computer systems showing good inventory, illustrating his view that data must reflect actual customer conditions. Under his leadership, Lennox reported achieving full-year margins above 20% for the first time in company history in 2025. Maskara also highlighted partnerships with Samsung and Ariston to expand product offerings, and noted that the company has repurchased $300 million in shares and increased its quarterly dividend by approximately 15%. He stated that Lennox's markets benefit from strong replacement fundamentals and that the company remains prepared for potential economic slowdowns.