Waters Corporation Expands Executive Team
January 25 2016 - 6:45AM
Business Wire
Waters Division President to Retire
Key Leaders Elevated, Focused on Key Products
and Markets
Waters Corporation (NYSE:WAT) today announced it will evolve and
expand its leadership structure. The newly formed Executive
Committee includes the addition of five current executives who will
assume broader responsibilities and work closely with President and
CEO Christopher J. O’Connell and current executive leaders to build
upon the company’s track record of innovation and growth.
These changes coincide with Arthur G. Caputo's transition into a
non-executive advisory role, effective February 10, 2016. Mr.
Caputo, 64, who has served Waters since 1977 and as Executive Vice
President and Waters Division President since 2002, has decided to
retire at the end of 2016.
“Art is to be congratulated on a long and successful nearly
40-year career devoted to advancing Waters’ industry-leading
technologies and global reach, and we are grateful for his
countless contributions to our success,” said O'Connell. “Our new
executive team will enable us to drive our business forward with
great continuity, and enhance our strategic and operational
capability. I have high confidence in our experienced team to
execute our growth plan, and to accelerate the introduction of
meaningful new innovations to market."
Current members of the Executive Committee will play enhanced
global functional leadership roles:
- Mark T. Beaudouin, Senior Vice
President, General Counsel and Secretary
- Eugene G. Cassis, Senior Vice
President and Chief Financial Officer
- Elizabeth B. Rae, Senior Vice
President, Global Human Resources
Five executives have been promoted to the Executive
Committee:
- Michael C. Harrington, Senior Vice
President, Global Markets, responsible for global marketing,
sales, and customer support operations.
- Terrance P. Kelly, Senior Vice
President and President, TA Instruments, responsible for
thermal analysis and rheology business operations.
- Rohit Khanna, Senior Vice President,
Applied Technology, responsible for chemistry, informatics and
service offerings.
- Ian S. King, Senior Vice President,
Instrument Technology, responsible for separations and mass
spectrometry instrument platforms.
- David A. Terricciano, Senior Vice
President, Global Operations, responsible for global quality,
manufacturing and supply chain operations.
Further commentary will be made during the Company’s conference
call to discuss full year 2015 financial results on Tuesday,
January 26, 2016 at 8:30 a.m. eastern time. To listen to the call,
connect to www.waters.com, choose “Investor Relations” and click on
the “Live Webcast”. A replay will be available through February 3,
2016 at midnight eastern time, similarly by webcast and also by
phone at 203-369-1809.
About Waters Corporation (www.waters.com)
Waters Corporation (NYSE:WAT) develops and manufactures advanced
analytical and material science technologies for laboratory
dependent organizations. For more than 50 years, the company has
pioneered a connected portfolio of separations science, laboratory
information management, mass spectrometry and thermal analysis
systems.
CAUTIONARY STATEMENT
This release may contain “forward-looking” statements regarding
future results and events. For this purpose, any statements that
are not statements of historical fact may be deemed forward-looking
statements. Without limiting the foregoing, the words, “feels”,
“believes”, “anticipates”, “plans”, “expects”, “intends”,
“suggests”, “appears”, “estimates”, “projects”, and similar
expressions, whether in the negative or affirmative, are intended
to identify forward-looking statements. The Company’s actual future
results may differ significantly from the results discussed in the
forward-looking statements within this release for a variety of
reasons, including and without limitation, uncertainties relating
to organizational/leadership transition plans; foreign exchange
rate fluctuations potentially affecting translation of the
Company’s future non-U.S. operating results; the impact on demand
among the Company’s various market sectors from economic, sovereign
and political uncertainties; fluctuations in expenditures by the
Company’s customers, in particular large pharmaceutical companies;
introduction of competing products by other companies and loss of
market share; pressures on prices from competitors and/or
customers; regulatory, economic and competitive obstacles to new
product introductions; other changes in demand from the effect of
mergers and acquisitions by the Company’s customers; increased
regulatory burdens as the Company’s business evolves, especially
with respect to the U.S. Food and Drug Administration and U.S.
Environmental Protection Agency, among others; shifts in taxable
income in jurisdictions with different effective tax rates; the
outcome of tax examinations or changes in respective country
legislation affecting the Company’s effective tax rate; the ability
to access capital, maintain liquidity and service our debt in
volatile market conditions, particularly in the U.S., as a large
portion of the Company’s cash is held and operating cash flows are
generated outside the U.S.; environmental and logistical obstacles
affecting the distribution of products and risks associated with
lawsuits and other legal actions, particularly involving claims for
infringement of patents and other intellectual property rights.
Such factors and others are discussed more fully in the sections
entitled “Forward-Looking Statements” and “Risk Factors” of the
Company’s annual report on Form 10-K for the year ended December
31, 2014 and Form 10-Q for the period ended April 4, 2015 as filed
with the Securities and Exchange Commission, which “Forward-Looking
Statements” and “Risk Factors” discussions are incorporated by
reference in this release. The forward-looking statements included
in this release represent the Company’s estimates or views as of
the date of this release report and should not be relied upon as
representing the Company’s estimates or views as of any date
subsequent to the date of this release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160125005510/en/
For Waters CorporationJeff Tarmy, 508-482-2314Corporate
Communicationsjeff_tarmy@waters.comorJohn Lynch,
508-482-2314Investor Relationsjohn_lynch@waters.com
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