Watts Water Technologies, Inc. (NYSE: WTS) today announced that Munish
Nanda will join the Company as President, Americas on April 6, 2015. Mr.
Nanda comes to Watts Water from ITT Corporation where he most recently
served as President of Control Technologies and previously as Vice
President of Integrated Supply Chain (including Operations and Supply
Chain functions) for ITT’s Fluid and Motion Control Group. Prior to
joining ITT, Mr. Nanda held several operating leadership and general
management positions with Thermo Fisher Scientific Corporation and
Honeywell, Inc.
Mr. Nanda is replacing Suellen Torregrosa, who has announced that she
will be leaving Watts Water within the next few weeks.
Robert J. Pagano, Jr., President and Chief Executive Officer, commented,
“Munish is a proven strategic and operational leader with a long track
record of leading successful business transformations. We are extremely
pleased to add to our team someone with Munish’s background and
experience in leading successful product commercialization, driving
operational and commercial excellence, implementing world class
integrated supply chains, and leading business optimization and
simplification efforts. I believe Munish’s talent and experience make
him extremely well suited to lead our ongoing business transformation
efforts in the Americas.”
“I want to thank Suellen for her leadership and efforts over the past
two years and I wish her well as she moves on to other opportunities,”
Mr. Pagano concluded.
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. Watts’ expertise in a wide variety of
water technologies enables Watts to be a comprehensive supplier to the
water industry.
This Press Release includes statements that are not historical facts and
are considered forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements reflect Watts Water Technologies’ 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 Watts’ 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 following: the effectiveness, the timing and the
expected costs and savings associated with of our ongoing restructuring
and transformation programs and initiatives; the current economic and
financial condition, which can affect the housing and construction
markets where our products are sold, manufactured and marketed;
shortages in and pricing of raw materials and supplies; our ability to
compete effectively; changes in variable interest rates on our
borrowings; failure to expand our markets through acquisitions; failure
to successfully develop and introduce new product offerings or
enhancements to existing products; failure to manufacture products that
meet required performance and safety standards; foreign exchange rate
fluctuations; cyclicality of industries where we market our products,
such as plumbing and heating wholesalers and home improvement retailers;
environmental compliance costs; product liability risks; changes in the
status of current litigation; and other risks and uncertainties
discussed under the heading “Item 1A. Risk Factors” and in Note 14 of
the Notes to the Consolidated Financial Statements in the Watts Water
Technologies, Inc. Annual Report on Form 10-K for the year ended
December 31, 2014 filed with the Securities Exchange Commission and
other reports Watts files from time to time with the Securities and
Exchange Commission. Watts does not intend to, and undertakes no duty
to, update the information contained in this Press Release, except as
required by law.
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