NORTEK APPOINTS CHIEF OPERATING OFFICER
PROVIDENCE, RI, January 9, 2002 - Nortek Inc.. (NYSE:NTK) announced today the appointment of Robert E.G. Ractliffe to the newly created position of Executive Vice President and Chief Operating Officer. Mr. Ractliffe will report to Richard L. Bready, Chairman and Chief Executive Officer of Nortek.
Since 1997, Mr. Ractliffe has served as President and Chief Executive Officer of Ply Gem Industries, Inc., which includes all of Nortek's Windows, Doors and Siding Products Group. From 1989 to 1997, Mr. Ractliffe served as President and Chief Executive Officer of Nortek's wholly owned subsidiary, Nordyne Inc., a leading manufacturer of Residential and Light Commercial HVAC Products. Under his leadership, the companies achieved a significant turnaround in financial performance.
In announcing the appointment, Mr. Bready said, "We are pleased to be promoting a highly-experienced industry manager such as Bob to oversee the operations of Nortek companies to continue Nortek's record of profitable growth." Mr. Bready went on to say that "this appointment will reduce many of my day-to-day operations requirements so that I can concentrate on Nortek's long-term strategic growth."
Since 1997, Mr. Ractliffe has served as President and Chief Executive Officer of Ply Gem Industries, Inc., which includes all of Nortek's Windows, Doors and Siding Products Group. From 1989 to 1997, Mr. Ractliffe served as President and Chief Executive Officer of Nortek's wholly owned subsidiary, Nordyne Inc., a leading manufacturer of Residential and Light Commercial HVAC Products. Under his leadership, the companies achieved a significant turnaround in financial performance.
Prior to joining Nordyne, Mr. Ractliffe was President, North American Operations, Carrier Corporation. He began his career at Westinghouse Electric Corporation as an engineer and progressed through various sales, marketing, project and manufacturing management assignments to general management.
Mr. Ractliffe was born and raised in England. He graduated with a Bachelor of Science, Engineering-with honors-from King's College, University of London in 1965, and from the University of Pittsburgh, where he was awarded a Master of Science, Electrical Engineering in 1969 and a Master of Business Administration, with Beta Gamma Sigma honors, in 1972. He also attended Harvard University's Program for Management Development at the Graduate School of Business in 1975.
Mr. Ractliffe currently is Chairman of the Board of the Gas Appliance Manufacturers Association (GAMA) and previously served as Chairman of the Board of the Air Conditioning and Refrigeration Institute (ARI). He also is a director of the Window and Door Manufacturers Association (WDMA), a representative to the Manufactured Housing Institute (MHI), and a board member of the St. Louis Greater Metropolitan Area YMCA.
Mr. Ractliffe is married with three children.
Nortek is a leading international manufacturer and distributor of high-quality, competitively priced building, remodeling and indoor environmental control products for the residential and commercial markets. The Company offers a broad array of products for improving the environments where people live and work. Its products include range hoods and other spot ventilation products; heating and air conditioning systems; vinyl products, including windows and doors, siding, decking, fencing and accessories; indoor air quality systems; and specialty electronic products.
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