Watts Water Technologies Announces Appointment of New Chief Financial
NORTH ANDOVER, Mass. -- October 29, 2012
Watts Water Technologies, Inc. (NYSE: WTS) announced today that Dean P.
Freeman has been appointed Executive Vice President and Chief Financial
Officer of the Company, effective as of November 12, 2012. William C.
McCartney, who announced his retirement earlier this year, will continue in
the role of Chief Financial Officer until November 12^th to oversee the
preparation and filing of the Company’s Quarterly Report on Form 10-Q for the
third quarter and to assist Mr. Freeman in preparing for the transition to
Chief Financial Officer of our Company.
Mr. Freeman previously served as Senior Vice President of Finance and
Treasurer of Flowserve Corporation from October 2009 to October 2011. Also
while at Flowserve, Mr. Freeman served as Vice President, Finance and Chief
Financial Officer of the Flowserve Pump Division from 2006 to October 2009.
Flowserve is a leading global provider of fluid motion and control products
and services, producing engineered and industrial pumps, seals and valves as
well as a range of related flow management services. Prior to Flowserve, Mr.
Freeman served as Chief Financial Officer, Europe for The Stanley Works
Corporation. Mr. Freeman also served in financial executive and management
roles of progressive responsibility with United Technologies Corporation and
Mr. Freeman has an MBA from Rensselaer Polytechnic Institute and a Bachelor of
Science degree in Business Administration from the University of Connecticut.
He also served our country as a non-commissioned infantry officer in the
United States Army.
David J. Coghlan, President and Chief Executive Officer, commented, “We are
very pleased to welcome Dean to our team. Dean brings a wealth of global
experience to us in finance, strategic management and continuous improvement
from premier companies. We believe that Dean will be a valuable asset to our
Company in continuing to grow and expand our business globally.”
Mr. Coghlan added, “I again want to thank Bill McCartney for his outstanding
contributions to Watts Water over his long and distinguished career and for
the central role he has played in our Company’s success. Bill has been
particularly instrumental in the Company’s success over the last 12 years,
making substantial contributions on the growth front through his role in the
36 acquisitions the Company has completed since 1999, on the operating front
by his focus on building a strong business model able to perform in the most
challenging business climate, and on the investor relations front by being our
Company’s face to the analyst and investor community. Those of us who have had
the privilege of working with Bill have great respect for his business acumen,
his integrity and his dedication during his 27 years of service to Watts
Water. I wish Bill the very best as he retires.”
Watts Water Technologies, Inc. is a world leader in the manufacture of
innovative products to control the efficiency, safety, and quality of water
within residential, commercial, and institutional applications. Its expertise
in a wide variety of water technologies enables it to be a comprehensive
supplier to the water industry.
Watts Water Technologies, Inc.
William C. McCartney, 978-688-1811
Chief Financial Officer
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