Copeland Appoints New Chief Financial Officer

ST. LOUIS (July 24, 2024) – Copeland, a global provider of sustainable climate solutions and leader in the HVAC, Refrigeration (HVACR) and industrial compression industry, has announced that Paul Lundstrom will join the company in August as Chief Financial Officer (CFO). Copeland is a standalone company and a portfolio company of Blackstone, the world’s largest alternative asset manager, within its Capital Partners Fund XIII.

“Paul is an excellent addition to the executive team of Copeland, as he brings with him extensive experience not only in the area of finance, but more broadly across business, including experience in business transformation, manufacturing, and investor relations. Paul’s experience, energy and fit with the culture that we are establishing across Copeland will ensure that he has an immediate impact on both our day-to-day operations and our longer-term strategy,” said Copeland Chief Executive Officer Ross B. Shuster. “Having worked with Paul previously, I look forward to welcoming Paul to Copeland and working alongside him once again.” 

An experienced senior finance executive, Lundstrom joins Copeland from Flex, Ltd (NASDAQ: FLEX) where he served as the company’s Chief Financial Officer. Lundstrom was a key member of the team that led the analysis, carve out and IPO for Nextracker (NASDAQ: NXT) from Flex in 2023 and served as a member of the Nextracker Board of Directors. Prior to joining Flex, Ltd., he served as the Chief Financial Officer for Aerojet Rocketdyne (previously NYSE: AJRD). Paul also held a number of senior financial leadership roles during his nineteen years at United Technologies (previously NYSE: UTX), including Vice President of Investor Relations, and multiple business unit CFO roles. While at United Technologies, he gained strong and relevant knowledge of the HVACR industry as part of the Carrier air-conditioning business unit, which was then part of United Technologies. 

“I’m excited to join Copeland as it takes the actions to establish itself to a leading stand-alone company within the global HVACR and industrial compression industry. I am particularly motivated by the opportunity to contribute to a purpose that is anchored to sustainability,” said Lundstrom. “Copeland is well positioned to help solve some of the world’s most complex climate challenges by enabling the energy transition, accelerating the transition to low global warming refrigerants and safeguarding food and pharmaceuticals through the cold chain.”

Learn more about Copeland’s sustainable solutions at copeland.com.