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United States

Watsco Inc (WSO.N)

WSO.N on New York Stock Exchange

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Summary

Name Age Since Current Position

Albert Nahmad

77 2016 Chairman of the Board, Chief Executive Officer

Aaron Nahmad

36 2016 President, Director

Cesar Alvarez

70 2017 Independent Co-Vice Chairman of the Board

Bob Moss

70 2016 Independent Co-Vice Chairman of the Board

Ana Menendez

53 2003 Chief Financial Officer, Treasurer, Assistant Secretary

Barry Logan

55 2018 Senior Vice President, Secretary

Denise Dickins

56 2007 Lead Independent Director

Jason Epstein

44 2017 Independent Director

Brian Keeley

73 2018 Independent Director

Steven Rubin

39 2018 Independent Director

George Sape

73 2015 Independent Director

Biographies

Name Description

Albert Nahmad

Mr. Albert H. Nahmad serves as Chairman of the Board, Chief Executive Officer of the Company. Among his many contributions, Mr. Nahmad has been instrumental in the scaling of our business through acquisitions, the cultivation of strategic vendor relationships, and the development of Watsco’s entrepreneurial culture. In 1988 Mr. Nahmad made the decision to pivot the Company’s strategic focus from manufacturing to distribution of HVAC/R products. Since that time, Watsco’s market capitalization has grown from $22 million to $6.3 billion, and its 25-year compounded annual growth rate of total shareholder return has been 19.3%. With revenues exceeding $4 billion, Watsco has solidified its place as the industry leader and now has approximately 5,200 employees serving approximately 90,000 contractor customers through a branch network of 560 locations. He serves as chair of the Strategy Committee.

Aaron Nahmad

Mr. Aaron J. Nahmad serves as President, Director of the Company. He served as Vice President of Strategy & Innovation from July 2010 until January 2016 and as Director of Global Business Development beginning in 2005. He holds a B.A. from the University of Pennsylvania and a M.B.A. from New York University’s Leonard N. Stern School of Business. He is the son of Albert H. Nahmad. A.J. Nahmad has led the transformation of Watsco into a technology-enabled business. His promotion to President in January 2016 recognized this leadership and acknowledged the importance of the successful execution and adoption of these innovations across the Watsco enterprise. He is a member of the Strategy Committee.

Cesar Alvarez

Mr. Cesar L. Alvarez is Independent Co-Vice Chairman of the Board of Watsco Inc. He rejoined the Board in 2017 after having previously served as a Watsco director from 1997 to 2015. Mr. Alvarez is Senior Chairman of the international law firm of Greenberg Traurig, P.A. (“Greenberg”). He previously served as Greenberg’s Executive Chairman beginning in 2012, and as Greenberg’s Chief Executive Officer from 1997 until his election as Executive Chairman. During his 15 year tenure as Chief Executive Officer and Executive Chairman, he led the firm to become one of the top ten law firms in the United States by leading its growth from 260 lawyers to approximately 1,850 lawyers in more than 36 locations in the United States, Europe, Asia and Latin America. Mr. Alvarez brings significant entrepreneurial expertise, management experience and knowledge from his many years of corporate governance experience, both counseling and serving on the boards of directors of other publicly traded companies. He serves on the boards of Mednax, Inc. (chairman of the board and member of the executive committee), Fairholme Funds, Inc., Intrexon Corporation (chair of the nominating and governance committee) and the St. Joe Company (chair of the governance and nominating committee). Mr. Alvarez serves as our Co-Vice Chairman of the Board and is a member of the Strategy Committee.

Bob Moss

Mr. Bob L. Moss serves as Independent Co-Vice Chairman of the Board of the Company. Mr. Moss is a dynamic leader and has built a successful career in the construction industry over the span of approximately 50 years. He is the Chairman and Chief Executive Officer of Moss & Associates LLC, founded in 2004, which has grown into one of the largest general contractors in the Southern United States with revenues of over $1 billion. Mr. Moss previously served as chairman of the board and Chief Executive Officer of Centex Construction Group, where he spent 23 years building Centex into the largest domestic general building contractor in the nation. Mr. Moss serves as our Co-Vice Chairman of the Board and is a member of the Nominating & Governance Committee. Mr. Moss brings entrepreneurial skills, business-building abilities, leadership development experience and a wealth of knowledge of the construction industry to our Board.

Ana Menendez

Ms. Ana M. Menendez serves as Chief Financial Officer, Treasurer, Assistant Secretary of the Watsco Inc. Ms. Menendez is a certified public accountant. Ms. Menendez supervises all financial and accounting aspects of the Company, including taxes, risk management, benefits, treasury and cash management, the Company’s system of internal control and other compliance activities. She also is the leader and principal contact for the Company’s banking relationships and actively participates at a senior level in a variety of strategic activities.

Barry Logan

Mr. Barry S. Logan serves as Senior Vice President, Secretary of Watsco Inc. Mr. Logan served as Vice President of Finance and Chief Financial Officer from 1997 to October 2003, as Treasurer from 1996 to 1998 and in other capacities beginning in 1992. Mr. Logan is a certified public accountant. Mr. Logan was Watsco’s fourth corporate employee and is an integral participant in the Company’s business development initiatives, financial and other strategic activities during his 25-year career. He is also the principal contact with the institutional shareholder community and, as such, is the principal contact for engagement with our shareholders.

Denise Dickins

Dr. Denise Dickins serves as Lead Independent Director of Watsco Inc. Since 2006, she has been employed by East Carolina University where she is a Professor of Accounting and Auditing where she teaches courses in Auditing and Corporate Governance. From 2002 to 2006, while earning her Ph.D., she was an instructor of various accounting courses at Florida Atlantic University. Prior to that, she was with Arthur Andersen LLP where she served in varying capacities from 1983 to 2002, including Partner in Charge of the South Florida Audit Division. Dr. Dickins is a certified public accountant and certified internal auditor. Dr. Dickins has served on the board of directors of three other publicly traded companies including, in the last five years, Steiner Leisure Ltd. (chair of the audit committee and a member of the governance and nominating committee) until its sale in December 2015, and Great Lakes Dredge & Dock (chair of the audit committee) until resigning in October 2015. Dr. Dickins brings auditing, accounting, and corporate governance skills to the Board. She is the Lead Independent Director and serves as chair of the Audit Committee, Compensation Committee, and Nominating & Governance Committee.

Jason Epstein

Mr. Jason Epstein is an Independent Director of the Company. He is a private investor and business executive who currently is the principal owner and Executive Chairman of Daybreak Game Company (formerly Sony Online Entertainment Inc.). Prior to launching his own investment company, Mr. Epstein was the Managing Partner of Columbus Nova, a private equity firm which manages a variety of growth equity, private equity and fixed income assets, where he co-led the investment activities until 2017. Before joining Columbus Nova in 2001, Mr. Epstein founded eLink Communications, a provider of broadband, networking and application services, and served as its Chief Executive Officer. He also co-founded Chloe’s Soft Serve Fruit, which is sold in more than 10,000 stores nationwide. Mr. Epstein received a B.A. from Tufts University where he currently serves on its Board of Overseers. Mr. Epstein has served as a board member of Cyalume Technologies Holdings, Inc., a publicly-traded technology company, from 2008 until its sale in 2017. He also served as a board member of CIFC Corp., a publicly-traded debt manager specializing in U.S. corporate debt strategies, from 2010 until its sale in 2016 where he served as chair of its nominating & corporate governance committee. Mr. Epstein brings entrepreneurial skills, investment expertise, management experience, and technology insights to the Board. Mr. Epstein is a member of the Compensation Committee and Nominating & Governance Committee.

Brian Keeley

Mr. Brian E. Keeley is Independent Director of the company. He was appointed to the Board in March 2018. Mr. Keeley is the President and Chief Executive Officer of Baptist Health South Florida, Inc. (“Baptist Health”), the largest not-for-profit healthcare organization in South Florida, with 10 hospitals, a network of more than 50 outpatient facilities spanning four counties, and one of the largest international programs in the nation. Baptist Health is a $3 billion enterprise rated AA by Standard & Poors. Under his leadership, Baptist Health executed transformational technologies throughout its organization. Baptist Health has been rated among the “100 Best Companies to Work For” in America by Fortune magazine. Mr. Keeley is a former member and board chair of the Miami Branch of the Federal Reserve Board of Atlanta. He is a member of the Audit Committee and Strategy Committee. Mr. Keeley brings significant management, operational, financial, and technology execution skills to our Board.

Steven Rubin

Mr. Steven Rubin is Independent Director of the company. Mr. Rubin is the Co-founder of Indiegogo, Inc., the global crowdfunding platform. Mr. Rubin is responsible for executing Indiegogo’s strategic growth initiatives, including its enterprise business, as well as blockchain and equity investing. Prior to co-founding Indiegogo in 2008, Mr. Rubin was a strategy consultant, working for nearly a decade on behalf of clients such as MasterCard and FedEx. He graduated with a B.S.E. from The Wharton School, University of Pennsylvania. Mr. Rubin is an innovative technologist who brings entrepreneurial, management, and strategic insights to the Board. He is a member of the Strategy Committee.

George Sape

Mr. George P. Sape serves as Independent Director of Watsco Inc. Mr. Sape retired in 2015 as the Managing Partner of Epstein Becker and Green, P.C., a New York-based law firm, after 29 years. Mr. Sape previously served as Vice President and General Counsel for Organizations Resources Counselors, Inc., a consulting services provider to a number of Fortune 500 companies and has served as counsel or as an advisor to various congressional committees related to labor, education and public welfare. Mr. Sape also serves on the board of the University of Colorado School of Business. Mr. Sape is a member of the Audit Committee and Compensation Committee. Mr. Sape brings core leadership skills from his experience as the managing partner of a large law firm and consulting for Fortune 500 companies as well as his experience in governance matters and through private company directorships.

Basic Compensation

Name Fiscal Year Total

Albert Nahmad

8,165,800

Aaron Nahmad

3,182,870

Cesar Alvarez

61,701

Bob Moss

66,701

Ana Menendez

902,910

Barry Logan

953,410

Denise Dickins

150,901

Jason Epstein

46,276

Brian Keeley

--

Steven Rubin

--

George Sape

97,551
As Of  30 Dec 2017

Options Compensation