Soma Somasundaram
LENNOX INTERNATIONALAbout Soma Somasundaram
Sivasankaran (“Soma”) Somasundaram, age 59, has served as an independent Class III director of Lennox International Inc. since 2024. He is President & CEO of ChampionX (formerly Apergy), with prior senior leadership roles at Dover Corporation, GL&V Inc., and Baker Hughes; he holds a B.S. in Mechanical Engineering (Anna University) and an M.S. in Industrial Engineering (University of Oklahoma). His background spans executive leadership, engineering/technology, ERM, sustainability, and global operations; the Board deems him independent under NYSE standards .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| ChampionX (formerly Apergy) | Director, President & CEO | 2018–present | Led transformational merger in 2020; rebranded to ChampionX |
| Dover Corporation | President & CEO, Energy Segment; EVP, Energy Segment; EVP, Dover Fluid Management; President, Fluid Solutions Platform; other executive roles | 2004–2018 (key roles 2008–2018) | Growth and strategic development leadership at a public industrial conglomerate |
| GL&V Inc. | Global leadership roles | 2002–2004 | Mining/industrial/pulp & paper technology solutions |
| Baker Hughes Inc. | Global leadership roles | 1996–2002 | Energy products & technology operations |
External Roles
| Organization/Board | Role | Tenure | Notes |
|---|---|---|---|
| ChampionX | Public company director (and CEO) | 2018–present | Current other public company board service |
| Magellan Midstream Partners, L.P. | Director | 2022–2023 | Prior public company board |
| National Petroleum Council | Member (federally chartered advisory committee) | 2023–2024 | Policy advisory participation |
| Recognition | ALLY Energy GRIT Lifetime Achievement Award | 2024 | Industry recognition |
| Recognition | “Most Admired CEO,” Houston Business Journal | 2022 | Industry recognition |
| Recognition | Energy Workforce & Technology Council DEI Champion Award | 2022 | DEI leadership |
Board Governance
- Committee assignments: Audit Committee member; Board Governance Committee member; listed among signatories to the Compensation & Human Resources Committee report (indicates committee involvement during 2025 cycle) .
- Independence: Board determined all directors except the CEO are independent; key committees are 100% independent .
- Attendance and engagement: Board met 14 times in 2024 and all directors attended >75% of Board and committee meetings; non-management directors met regularly in executive session chaired by the independent Chair .
- Committee activity (engagement signal): Audit Committee held 9 meetings in 2024; Board Governance Committee held 10 meetings in 2024 .
- Leadership structure: Independent Chair (Todd J. Teske) presides, with regularly scheduled executive sessions and majority voting standard .
| Committee | Role for Somasundaram | 2024 Meetings |
|---|---|---|
| Audit | Member | 9 |
| Board Governance | Member | 10 |
| Compensation & HR | Listed as report signatory (committee participant) | Committee overview (5 meetings) |
Fixed Compensation
| Component | Amount | Details |
|---|---|---|
| Annual cash retainer | $105,000 | Paid quarterly; directors may elect stock in lieu of cash |
| Equity grant (common stock) | $149,804 | 305 shares granted on May 16, 2024 at $491.16 per share; granted under 2019 Plan |
| Leadership retainers | $0 | He is not a Chair; Chair fees: Board Chair $150,000; Audit Chair $25,000; Comp Chair $20,000; Governance Chair $20,000 |
| Meeting fees | Not disclosed | LII does not list per-meeting fees for directors |
| Total 2024 director compensation | $254,804 | Fees earned and stock awards (grant-date value) |
Performance Compensation
| Compensation Element | Performance Metrics | Vesting/Structure |
|---|---|---|
| Annual director equity grant (common stock) | None (not performance-based for directors) | Common stock grant at annual meeting; directors’ equity is delivered as stock, not PSUs/RSUs in 2024 program |
Director stock ownership guideline: 5x annual retainer to be met within five years of first election; Somasundaram elected in 2024 and has until 2029 to comply .
Other Directorships & Interlocks
| Company | Role | Tenure | Interlocks/Transactions with LII |
|---|---|---|---|
| ChampionX | Director (and CEO) | 2018–present | No related-party transactions disclosed by LII for 2024 |
| Magellan Midstream Partners, L.P. | Director | 2022–2023 | No related-party transactions disclosed by LII for 2024 |
- Compensation committee interlocks: None—no CHRC member had relationships requiring disclosure; no reciprocal board/comp committee interlocks with LII executives .
- Overboarding: LII policy prohibits >4 other public boards; Board states no overboarding among directors .
Expertise & Qualifications
- Executive leadership as a sitting public-company CEO; strategic planning, M&A, ERM, sustainability, and technology/engineering depth .
- Global perspective; lived/worked in India, Germany, Singapore, Australia .
- Technical credentials: Mechanical and Industrial Engineering degrees .
Equity Ownership
| Metric | Value |
|---|---|
| Shares owned (beneficial) | 305 shares |
| Shares acquirable within 60 days | None (no vested SARs/awards applicable) |
| Ownership vs shares outstanding | <1% of class (35,468,304 shares outstanding as of Mar 15, 2025) |
| RSUs outstanding | 0 (as of Dec 31, 2024; several other directors held RSUs) |
| Anti-hedging/pledging | Prohibited by LII policy (alignment safeguard) |
| Director stock ownership guideline status | Not yet at 5x retainer; compliance window through 2029 (elected 2024) |
Governance Assessment
- Board effectiveness: Active engagement via Audit and Governance committees; strong independence posture; all directors met attendance thresholds; independent Chair and regular executive sessions enhance oversight .
- Alignment and incentives: Director pay mix is modest cash plus fixed-value common stock; ownership guideline of 5x retainer promotes long-term alignment, with a five-year ramp to 2029 for 2024 appointees .
- Conflicts and interlocks: No related-party transactions involving directors disclosed for 2024; CHRC interlocks absent; anti-hedging/pledging policy reduces misalignment risk .
- Shareholder signals: Say-on-Pay support was ~97% at the 2024 meeting, indicating broad investor confidence in compensation governance; independent compensation consultant (Meridian) assessed as conflict-free .
RED FLAGS
-
Ownership build-up: As a 2024 appointee, Somasundaram’s current LII stake is limited (305 shares) and below the 5x retainer guideline—monitor progress to guideline compliance by 2029 for alignment optics .
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No other red flags identified: No related-party transactions, no hedging/pledging, no overboarding, and timely Section 16(a) compliance disclosures indicate low governance risk specific to this director .