Watts Water Technologies Appoints New President, Americas
By Business Wire News
By Business Wire News
NORTH ANDOVER, Mass.
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.
Watts Water Technologies, Inc.
Timothy M. MacPhee, 978-688-1811
Vice President of Investor Relations