Andy Cheung to Join Aaon as CFO on April 20
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 02 2026
0mins
Should l Buy AAON?
Andy Cheung will join Aaon (AAON) on April 20 as its Executive Vice President and CFO. Cheung most recently served as Executive Vice President and CFO at Commercial Vehicle Group (CVGI) for the past three years. Previously, Cheung had spent more than 25 years in various senior financial leadership positions within the HVAC and automotive industries. Cheung will succeed Aaon's current CFO, Rebecca Thompson, as part of a well-planned leadership transition. Thompson will fill the role of Chief Accounting Officer, a position she previously held prior to becoming the company's CFO in 2021.
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Analyst Views on AAON
Wall Street analysts forecast AAON stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 93.980
Low
115.00
Averages
119.00
High
125.00
Current: 93.980
Low
115.00
Averages
119.00
High
125.00
About AAON
AAON, Inc. provides HVAC solutions for commercial and industrial indoor environments. Its segments include AAON Oklahoma, AAON Coil Products, and BASX. The AAON Oklahoma segment engineers, manufactures, and sells configurable HVAC systems, designs and manufactures controls solutions, and sells aftermarket parts to customers through retail part stores and online. The AAON Coil Products segment engineers and manufactures and sells semi-custom and custom HVAC systems and heating and cooling coils for use in HVAC systems, primarily for AAON Oklahoma, AAON Coil Products, and BASX. BASX segment engineers, manufactures, and sells a range of custom, high-performance cooling solutions for the hyperscale data center market; ventilation solutions for cleanroom environments in the biopharmaceutical, semiconductor, medical, and agricultural sectors; and highly customized air handlers and modular solutions for a variety of markets. BASX operates from its manufacturing facilities in Redmond, Oregon.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
AAON Appoints Andy Cheung as New CFO
- Executive Transition: Andy Cheung will join AAON as Executive VP and CFO on April 20, 2026, bringing prior experience as CFO of Commercial Vehicle Group, which is expected to introduce new financial strategies and management expertise to the company.
- Leadership Handover: Current CFO Rebecca Thompson will transition to Chief Accounting Officer, ensuring continuity in financial management while supporting the company's future financial planning and enhancing overall team efficiency.
- Sales Growth Targets: AAON aims for 18% to 20% sales growth in 2026, with projected gross margins of up to 31%, indicating strong confidence in market demand and a strategic focus on improving profitability.
- Backlog Situation: AAON's BASX backlog has reached $1.3 billion, reflecting robust market demand and potential future revenue, providing a solid foundation for the company's growth.
See More
AAON Appoints New CFO and General Counsel Amid Leadership Transition
- Leadership Transition: AAON has appointed Andy Cheung as the new Chief Financial Officer, responsible for overseeing financial operations and investment strategies to support the company's rapidly growing business; Cheung brings three years of experience as CFO at Commercial Vehicle Group and over 25 years in the industry.
- Enhanced Financial Governance: Rebecca Thompson will transition to Chief Accounting Officer, leveraging her expertise as a CPA and deep understanding of the company's systems to improve financial reporting and accounting efficiency, thereby strengthening the company's governance capabilities.
- Legal Compliance Focus: Luke Bomer joined AAON on April 1 as the newly created General Counsel, focusing on governance, compliance, and risk management; Bomer has nearly 20 years of legal experience and has served as AAON's outside counsel.
- Commitment to Strategic Growth: AAON's CEO Matt Tobolski expressed excitement about the new executives joining, emphasizing their role in enhancing the company's execution capabilities and governance framework to create long-term value for customers and shareholders.
See More
Russell 2000 Stocks: Is It Premature or Time to Pay Attention?
Small-Cap Stocks Overview: Many top mega-cap companies began as speculative small-cap stocks, but the best stocks are those that consistently grow revenue and earnings, despite the higher volatility associated with small-cap stocks.
Market Conditions and Interest Rates: The cost of capital has increased due to higher interest rates, impacting small-cap companies that often rely on debt for growth, contrasting with previous low-interest environments.
Russell 2000 Index Performance: The Russell 2000 index, representing small-cap stocks, has seen a slight decline this year, but it has maintained solid performance over the past three years, with a significant valuation gap compared to the S&P 500.
Investment Opportunities in Small-Cap Stocks: Analysts suggest that now may be a good time to invest in Russell 2000 stocks, especially as market conditions hint at potential lower interest rates, which could attract investor interest in these stocks.
See More
AAON Declares Quarterly Cash Dividend
- Dividend Announcement: AAON's Board of Directors has declared a quarterly cash dividend of $0.10 per share, translating to an annual dividend of $0.40, payable on March 30, 2026, reflecting the company's commitment to shareholder returns.
- Record Date for Shareholders: The record date for shareholders to qualify for this dividend is March 18, 2026, ensuring that investors holding shares by this date will receive the dividend, thereby enhancing investor confidence in holding the stock.
- Company Background: Founded in 1988, AAON is a global leader in HVAC solutions, focusing on indoor environments for commercial, industrial, and data centers, showcasing its strong competitive position in the industry.
- Innovation Capability: AAON's world-class innovation center and testing lab in Tulsa, Oklahoma, continuously push the boundaries of equipment design and manufacturing, enhancing the company's technological edge in the market.
See More
AAON Declares Quarterly Cash Dividend
- Dividend Announcement: AAON's Board of Directors has declared a quarterly cash dividend of $0.10 per share, amounting to an annual dividend of $0.40, reflecting the company's stable cash flow and commitment to shareholder returns.
- Record Date for Shareholders: The record date for this dividend is set for March 18, 2026, ensuring that shareholders who own stock by this date will receive the dividend, thereby enhancing investor confidence in holding shares.
- Company Background: Founded in 1988, AAON is a global leader in HVAC solutions for commercial, industrial, and data center indoor environments, enhancing customer experience and long-term value through highly configurable and custom-made equipment.
- Innovation Center: Headquartered in Tulsa, Oklahoma, AAON features a world-class innovation center and testing lab that continuously drives technological advancements in the industry, ensuring the company maintains a competitive edge in a rapidly evolving market.
See More
AAON's Rooftop Unit Passes DOE Evaluation
- Successful Evaluation: AAON's Alpha Class EXTREME SERIES rooftop unit has successfully completed the laboratory evaluation phase of the U.S. Department of Energy's Commercial Building HVAC Technology Challenge, showcasing its leadership in high-performance and energy-efficient solutions.
- Dual Fuel Capability: The unit features true simultaneous dual fuel capability, allowing it to utilize two fuel types concurrently, thereby enhancing energy efficiency and reducing operational costs, aligning with market demands for environmentally friendly and energy-saving products.
- Competitive Market Advantage: This evaluation not only strengthens AAON's competitive position in the HVAC sector but also lays a solid foundation for future product promotion and market expansion, likely attracting more commercial clients.
- Strategic Implications: The successful evaluation signifies AAON's ongoing commitment to technological innovation and product development, further solidifying its leadership in the efficient HVAC solutions market and supporting the company's long-term growth objectives.
See More
AAON Appoints Andy Cheung as New CFO
- Executive Transition: Andy Cheung will join AAON as Executive VP and CFO on April 20, 2026, bringing prior experience as CFO of Commercial Vehicle Group, which is expected to introduce new financial strategies and management expertise to the company.
- Leadership Handover: Current CFO Rebecca Thompson will transition to Chief Accounting Officer, ensuring continuity in financial management while supporting the company's future financial planning and enhancing overall team efficiency.
- Sales Growth Targets: AAON aims for 18% to 20% sales growth in 2026, with projected gross margins of up to 31%, indicating strong confidence in market demand and a strategic focus on improving profitability.
- Backlog Situation: AAON's BASX backlog has reached $1.3 billion, reflecting robust market demand and potential future revenue, providing a solid foundation for the company's growth.
See More
AAON Appoints New CFO and General Counsel Amid Leadership Transition
- Leadership Transition: AAON has appointed Andy Cheung as the new Chief Financial Officer, responsible for overseeing financial operations and investment strategies to support the company's rapidly growing business; Cheung brings three years of experience as CFO at Commercial Vehicle Group and over 25 years in the industry.
- Enhanced Financial Governance: Rebecca Thompson will transition to Chief Accounting Officer, leveraging her expertise as a CPA and deep understanding of the company's systems to improve financial reporting and accounting efficiency, thereby strengthening the company's governance capabilities.
- Legal Compliance Focus: Luke Bomer joined AAON on April 1 as the newly created General Counsel, focusing on governance, compliance, and risk management; Bomer has nearly 20 years of legal experience and has served as AAON's outside counsel.
- Commitment to Strategic Growth: AAON's CEO Matt Tobolski expressed excitement about the new executives joining, emphasizing their role in enhancing the company's execution capabilities and governance framework to create long-term value for customers and shareholders.
See More
Russell 2000 Stocks: Is It Premature or Time to Pay Attention?
Small-Cap Stocks Overview: Many top mega-cap companies began as speculative small-cap stocks, but the best stocks are those that consistently grow revenue and earnings, despite the higher volatility associated with small-cap stocks.
Market Conditions and Interest Rates: The cost of capital has increased due to higher interest rates, impacting small-cap companies that often rely on debt for growth, contrasting with previous low-interest environments.
Russell 2000 Index Performance: The Russell 2000 index, representing small-cap stocks, has seen a slight decline this year, but it has maintained solid performance over the past three years, with a significant valuation gap compared to the S&P 500.
Investment Opportunities in Small-Cap Stocks: Analysts suggest that now may be a good time to invest in Russell 2000 stocks, especially as market conditions hint at potential lower interest rates, which could attract investor interest in these stocks.
See More
AAON Declares Quarterly Cash Dividend
- Dividend Announcement: AAON's Board of Directors has declared a quarterly cash dividend of $0.10 per share, translating to an annual dividend of $0.40, payable on March 30, 2026, reflecting the company's commitment to shareholder returns.
- Record Date for Shareholders: The record date for shareholders to qualify for this dividend is March 18, 2026, ensuring that investors holding shares by this date will receive the dividend, thereby enhancing investor confidence in holding the stock.
- Company Background: Founded in 1988, AAON is a global leader in HVAC solutions, focusing on indoor environments for commercial, industrial, and data centers, showcasing its strong competitive position in the industry.
- Innovation Capability: AAON's world-class innovation center and testing lab in Tulsa, Oklahoma, continuously push the boundaries of equipment design and manufacturing, enhancing the company's technological edge in the market.
See More
AAON Declares Quarterly Cash Dividend
- Dividend Announcement: AAON's Board of Directors has declared a quarterly cash dividend of $0.10 per share, amounting to an annual dividend of $0.40, reflecting the company's stable cash flow and commitment to shareholder returns.
- Record Date for Shareholders: The record date for this dividend is set for March 18, 2026, ensuring that shareholders who own stock by this date will receive the dividend, thereby enhancing investor confidence in holding shares.
- Company Background: Founded in 1988, AAON is a global leader in HVAC solutions for commercial, industrial, and data center indoor environments, enhancing customer experience and long-term value through highly configurable and custom-made equipment.
- Innovation Center: Headquartered in Tulsa, Oklahoma, AAON features a world-class innovation center and testing lab that continuously drives technological advancements in the industry, ensuring the company maintains a competitive edge in a rapidly evolving market.
See More
AAON's Rooftop Unit Passes DOE Evaluation
- Successful Evaluation: AAON's Alpha Class EXTREME SERIES rooftop unit has successfully completed the laboratory evaluation phase of the U.S. Department of Energy's Commercial Building HVAC Technology Challenge, showcasing its leadership in high-performance and energy-efficient solutions.
- Dual Fuel Capability: The unit features true simultaneous dual fuel capability, allowing it to utilize two fuel types concurrently, thereby enhancing energy efficiency and reducing operational costs, aligning with market demands for environmentally friendly and energy-saving products.
- Competitive Market Advantage: This evaluation not only strengthens AAON's competitive position in the HVAC sector but also lays a solid foundation for future product promotion and market expansion, likely attracting more commercial clients.
- Strategic Implications: The successful evaluation signifies AAON's ongoing commitment to technological innovation and product development, further solidifying its leadership in the efficient HVAC solutions market and supporting the company's long-term growth objectives.
See More
