Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Watts Water Selects ITT’s Pagano as Chief Executive Officer

Watts Water Technologies Inc. named Robert J. Pagano Jr., ITT Corp.’s industrial process business president, as its chief executive officer, ending a four-month search.

ITT announced that Pagano, 51, resigned effective May 26 to take over the top post at Watts Water. Dean Freeman, who served as interim chief after David Coghlan resigned in January, will resume his duties as chief financial officer.

ITT’s IP business makes industrial pumps, valves and control systems. The business under Pagano’s leadership tapped the energy market to increase revenue to $1.1 billion last year from $719 million in 2009, North Andover, Massachusetts-based Watts Water said in a statement yesterday.

Pagano “brings a wealth of industry experience from his tenure at ITT,” Kevin Bennett, an analyst with Sterne, Agee & Leach Inc., wrote in a note to investors today. “The hiring should be a positive for the stock, as it removes a significant piece of uncertainty.” Bennett rates the stock a buy with a 12-month price target of $68.

Watts Water gained 2.2 percent to $54.25 today at the close of trading in New York, the most since April 2. The shares have declined 12 percent this year compared to a 4.8 percent gain by the 19-member Bloomberg World Water Index.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.