Blackstone hires Shuster as CEO of new standalone climate tech business

The appointment will become effective once the deal closes, which is expected to be the first half of the year.

  • The business includes the Copeland compressor business and the entire portfolio of products and services across all HVACR end-markets
  • Shuster is a former CEO of Howden
  • Also, he spent 12 years with United Technologies, holding several leadership positions including as a business unit president within the climate, controls & security global business

Blackstone has appointed Ross B. Shuster to become CEO of its new standalone climate technologies business that it’s acquiring from Emerson. The appointment will become effective once the deal closes, which is expected to be the first half of the year.

The standalone climate technologies business includes the Copeland compressor business and the entire portfolio of products and services across all HVACR end-markets.

Shuster is a former CEO of Howden. Also, he spent 12 years with United Technologies, holding several leadership positions including as a business unit president within the climate, controls & security global business. He also spent more than a decade with Johnson Controls, holding various roles across San Francisco, Los Angeles, Singapore, and Shanghai.

“We are thrilled to welcome Ross and are confident he is the right person to lead this world-class business as we prepare to further advance its position as the partner of choice in the climate technologies space,” said Seth Meisel, senior managing director at Blackstone, in a statement. “This is a critical moment for both the business and the industry as we look to bring innovative, efficient, and sustainable heating, cooling, and refrigeration products to customers amidst broad demand for carbon reduction solutions. Ross brings the necessary skills and experience scaling global, sustainability-focused businesses to capitalize on this environment. We also want to thank Jamie Froedge for his significant work in establishing this industry-leading business, and we look forward to investing in this team as we build on the strong foundation.”

Emerson is a global technology and software company.

Currently, Blackstone has $991 billion in assets under management.