Flowserve Appoints Cheryl H. Johnson to Board of Directors
20 Settembre 2023 - 10:30PM
Business Wire
Flowserve Corporation (NYSE:FLS), a leading provider of flow
control products and services for the global infrastructure
markets, announced today that its board of directors has elected
Cheryl H. Johnson as a member of its board of directors, effective
December 8, 2023. Ms. Johnson will also be appointed to the
organization and compensation committee, as well as the finance and
risk committee of the board on the same date. Ms. Johnson’s
appointment follows the retirement of John Friedery, who will
retire from the board effective December 8, 2023.
“I would like to thank John for his exceptional service and
support of Flowserve over the years and we wish him well in
retirement,” said Scott Rowe, Flowserve president and chief
executive officer. “Cheryl’s experience and proven track record in
the manufacturing industry are an invaluable addition to our board
and will guide us in achieving new heights of success.”
Ms. Johnson currently serves as the chief human resources
officer at Caterpillar Inc., the world’s largest manufacturer of
construction equipment. Her prior experience includes serving as
Executive Vice President of Human Resources for Textron Inc., an
aviation and aerospace component manufacturer, where she led global
human resources, corporate communications, and community
affairs.
“We are pleased to welcome Cheryl to the board of directors,”
said David Roberts, chairman of the Flowserve board of directors.
“With Cheryl’s appointment, we continue our practice of board
refreshment to bring new skills, perspectives and experience to
help guide Flowserve’s continued bright future.”
Ms. Johnson earned a Bachelor of Science in operations
management as well as an MBA from Northern Illinois University.
“I am excited to join the Flowserve board of directors and work
with the team to build a strong and sustainable future for
Flowserve,” said Ms. Johnson. “I look forward to bringing my
experience and expertise into the boardroom to catalyze growth and
guide Flowserve’s path in the ever-changing landscape of our
industry.”
About Flowserve: Flowserve Corp. is one of the world’s
leading providers of fluid motion and control products and
services. Operating in more than 50 countries, the company produces
engineered and industrial pumps, seals and valves as well as a
range of related flow management services. More information about
Flowserve can be obtained by visiting the company’s website at
www.flowserve.com.
Safe Harbor Statement: This news release includes
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995, as
amended. Words or phrases such as, “may,” “should,” “expects,”
“could,” “intends,” “plans,” “anticipates,” “estimates,”
“believes,” “forecasts,” “predicts” or other similar expressions
are intended to identify forward-looking statements, which include,
without limitation, earnings forecasts, statements relating to our
business strategy and statements of expectations, beliefs, future
plans and strategies and anticipated developments concerning our
industry, business, operations and financial performance and
condition.
The forward-looking statements included in this news release are
based on our current expectations, projections, estimates and
assumptions. These statements are only predictions, not guarantees.
Such forward-looking statements are subject to numerous risks and
uncertainties that are difficult to predict. These risks and
uncertainties may cause actual results to differ materially from
what is forecast in such forward-looking statements, and include,
without limitation, the following: the impact of the global
outbreak of COVID-19 on our business and operations; a portion of
our bookings may not lead to completed sales, and our ability to
convert bookings into revenues at acceptable profit margins;
changes in global economic conditions and the potential for
unexpected cancellations or delays of customer orders in our
reported backlog; our dependence on our customers’ ability to make
required capital investment and maintenance expenditures; if we are
not able to successfully execute and realize the expected financial
benefits from our strategic transformation and realignment
initiatives, our business could be adversely affected; risks
associated with cost overruns on fixed-fee projects and in taking
customer orders for large complex custom engineered products; the
substantial dependence of our sales on the success of the oil and
gas, chemical, power generation and water management industries;
the adverse impact of volatile raw materials prices on our products
and operating margins; economic, political and other risks
associated with our international operations, including military
actions, trade embargoes, epidemics or pandemics or changes to
tariffs or trade agreements that could affect customer markets,
particularly North African, Russian and Middle Eastern markets and
global oil and gas producers, and non-compliance with U.S.
export/re-export control, foreign corrupt practice laws, economic
sanctions and import laws and regulations; increased aging and
slower collection of receivables, particularly in Latin America and
other emerging markets; our exposure to fluctuations in foreign
currency exchange rates, including in hyperinflationary countries
such as Venezuela and Argentina; our furnishing of products and
services to nuclear power plant facilities and other critical
processes; potential adverse consequences resulting from litigation
to which we are a party, such as litigation involving
asbestos-containing material claims; expectations regarding
acquisitions and the integration of acquired businesses; our
relative geographical profitability and its impact on our
utilization of deferred tax assets, including foreign tax credits;
the potential adverse impact of an impairment in the carrying value
of goodwill or other intangible assets; our dependence upon
third-party suppliers whose failure to perform timely could
adversely affect our business operations; the highly competitive
nature of the markets in which we operate; environmental compliance
costs and liabilities; potential work stoppages and other labor
matters; access to public and private sources of debt financing;
our inability to protect our intellectual property in the U.S., as
well as in foreign countries; obligations under our defined benefit
pension plans; our internal control over financial reporting may
not prevent or detect misstatements because of its inherent
limitations, including the possibility of human error, the
circumvention or overriding of controls, or fraud; the recording of
increased deferred tax asset valuation allowances in the future or
the impact of tax law changes on such deferred tax assets could
affect our operating results; our information technology
infrastructure could be subject to service interruptions, data
corruption, cyber-based attacks or network security breaches, which
could disrupt our business operations and result in the loss of
critical and confidential information; ineffective internal
controls could impact the accuracy and timely reporting of our
business and financial results; and other factors described from
time to time in our filings with the Securities and Exchange
Commission.
All forward-looking statements included in this news release are
based on information available to us on the date hereof, and we
assume no obligation to update any forward-looking statement.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920287225/en/
Jay Roueche, Vice President, Investor Relations & Treasurer
(972) 443-6560 Mike Mullin, Director, Investor Relations (214)
697-8568 Wes Warnock, Vice President, Corporate Communications
(972) 443-6900
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