Wheeler, who joined the Milwaukee-based manufacturer in 1994, rose through the ranks from a regional sales manager to the helm of the company. He served as president and CEO starting in 2018 before taking on the chairman title two years later. Despite his retirement from the executive role, he will retain his seat on the board of directors to provide ongoing guidance.

His successor, Stephen Shafer, joined A. O. Smith in 2024 as president and COO before being promoted to president and CEO in July 2025. He becomes the 11th executive in the company’s history to hold the combined chairman and CEO position. Lead director Chris Mapes noted that the consolidation is intended to sharpen alignment between the company's strategy and its long-term performance. Prior to his current tenure, Shafer held various leadership roles at 3M, McKinsey & Co., and Ford Motor Company.