Mario Sanchez Promoted to President and Group Managing Director of EMEA
Following Retirement of J. Dennis Cawte
NORTH ANDOVER, Mass. -- June 17, 2013
Watts Water Technologies, Inc. (NYSE: WTS) today announced that J. Dennis
Cawte, the Company’s Group Managing Director, EMEA, has decided to retire
after more than eleven years of service. The Company also announced that Mario
Sanchez, the Company’s Vice President of Plumbing and Heating, EMEA, will
succeed Mr. Cawte as President and Group Managing Director, EMEA.
David Coghlan, the Company’s Chief Executive Officer, said, “I am very pleased
to announce the promotion of Mario Sanchez to President and Group Managing
Director, EMEA. As Vice President of Plumbing and Heating, EMEA, Mario has
made great strides in improving the efficiency and productivity of our
business in Europe, the Middle East and Africa (“EMEA”). I am confident that
Mario is ready to assume responsibility for our overall EMEA business and I
believe that the transition will be seamless.”
Mr. Sanchez joined the Company in January 2012 as Vice President of Plumbing
and Heating, EMEA. Mr. Sanchez previously served as Vice President of Global
Manufacturing for Johnson Controls, Inc. from September 2008 to January 2012.
Johnson Controls is a global diversified technology and industrial company
providing products, services and solutions to optimize energy and operational
efficiencies of buildings; lead-acid automotive batteries and advanced
batteries for hybrid and electric vehicles; and interior systems for
automobiles. Before joining Johnson Controls, Mr. Sanchez served as Vice
President of Global Operations for Tyco International, Ltd. from December 2006
to August 2008. Tyco is a global provider of fire protection and security
products and services. Prior to Tyco, Mr. Sanchez held several global
management positions with Ingersoll-Rand plc.
Mr. Coghlan also said, “I want to thank Dennis Cawte for his outstanding
contributions to Watts Water over his long and distinguished career and for
the central role he has played in the growth of our business in EMEA. Dennis
has made substantial contributions on the growth of our business in EMEA
through his role in several strategic acquisitions the Company has completed
in EMEA since Dennis joined us in 2001 and on his focus on building a strong
management team able to perform in a very challenging business climate. Those
of us who have had the privilege of working with Dennis have great respect for
his business acumen, his passion for the business and his dedication during
his many years of service to Watts Water. I wish Dennis the very best as he
Watts Water Technologies, Inc., through its subsidiaries, 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.
This Press Release may include statements that are not historical facts and
are considered forward-looking within the meaning of the Private Securities
Litigation Reform Act of 1995, such as statements about the Company’s ability
to take advantage of a market recovery. These forward-looking statements
reflect the Company’s current views about future results of operations and
other forward-looking information. In some cases you can identify these
statements by forward-looking words such as “anticipate,” “believe,” “could,”
“estimate,” “expect,” “intend,” “may,” “should” and “would” or similar words.
You should not rely on forward-looking statements because the Company’s actual
results may differ materially from those indicated by these forward-looking
statements as a result of a number of important factors. These factors
include, but are not limited to, the risks and uncertainties discussed under
the heading “Item 1A. Risk Factors” in the Watts Water Technologies, Inc.
Annual Report on Form 10-K for the year ended December 31, 2012 filed with the
Securities Exchange Commission and other reports the Company files from time
to time with the Securities and Exchange Commission. The Company does not
intend to, and undertakes no duty to, update the information contained in this
Press Release, except as required by law.
Watts Water Technologies, Inc.
Dean P. Freeman, 978-688-1811
Chief Financial Officer
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