#USA #AAON #Tulsa #Matt Tobolski #Gary Fields

AAON's New Era: Matt J. Tobolski Takes the Helm as CEO

In a significant shift for AAON, Inc. (NASDAQ: AAON), the company has announced the appointment of Matt J. Tobolski, PhD, as its new Chief Executive Officer, effective from the Company’s Annual Shareholders' Meeting on May 13, 2025. This marks a key change in leadership as Gary D. Fields, the current CEO, transitions into the role of special advisor to the Board.

Dr. Tobolski has been an integral part of AAON, serving as the Company’s president and Chief Operating Officer since January 2024, where he played a vital role in transforming the company’s strategic direction and positioning both AAON and its recently acquired subsidiary, BASX Solutions, for sustainable growth. His leadership comes at a critical juncture when AAON is focusing on expanding its data center cooling production capabilities and enhancing market competitiveness.

The Board of Directors, led by Chair A.H. “Chip” McElroy II, expressed confidence in Dr. Tobolski, highlighting his unique fit to lead AAON into its next growth chapter. "Matt has demonstrated exceptional leadership over the past three years, and we believe he possesses the vision and drive necessary to take AAON to the next level," McElroy stated.

In accepting his new role, Dr. Tobolski emphasized the importance of leveraging the combined strengths of AAON and BASX to amplify their presence in the industry. He expressed enthusiasm for the challenges that lie ahead, stating, "It’s an honor to be appointed CEO of AAON. I am excited to lead the Company into its next phase of growth while continuing to deliver industry-leading solutions."

Gary D. Fields leaves behind a powerful legacy, having steered AAON through transformative growth. Since becoming president in 2016, Fields has overseen a tripling of sales and a fivefold increase in market capitalization. He initiated several pivotal strategies that reshaped AAON into a leading player in the HVAC industry, focusing on efficiency and innovation in heating, ventilation, and air conditioning solutions. His commitment to the Company will continue in his new advisory role, where he aims to ensure a smooth transition during this leadership change.

Both Fields and Dr. Tobolski will collaborate closely over the next few months to strategize on AAON’s future objectives. This teamwork is expected to bolster the company’s position as a frontrunner in energy-efficient HVAC solutions tailored for commercial and industrial environments. Dr. Tobolski’s extensive background in the engineering and manufacturing of HVAC systems makes him particularly well-suited to guide the company through evolving market challenges.

About Matt J. Tobolski

Dr. Tobolski co-founded BASX Solutions in 2013 before its acquisition by AAON in 2021, where he significantly contributed to its growth and recognition in the data center and cleanroom markets. He holds a bachelor's degree in civil engineering from the University of Massachusetts Dartmouth and both a Master’s degree and doctorate in structural engineering from the University of California, San Diego.

About AAON, Inc.

Founded in 1988, AAON is a leader in advanced HVAC solutions. The company is renowned for its commitment to high performance and energy efficiency, striving to create sustainable indoor environments across various commercial and industrial applications. Headquartered in Tulsa, Oklahoma, AAON is dedicated to innovation and continues to lead the way in providing effective and configurable HVAC solutions tailored to meet precise customer needs.

As Dr. Tobolski prepares to take the reins, stakeholders and employees alike are optimistic about AAON's path forward, eagerly anticipating the strategic innovations and growth strategies that the new leadership team will unveil.