Waters Division President to Retire
Key Leaders Elevated, Focused on Key Products and Markets
MILFORD, Mass.--(BUSINESS WIRE)--Jan. 25, 2016--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160125005510/en/
Source: Waters Corporation
For Waters Corporation
Jeff Tarmy, 508-482-2314
Corporate
Communications
jeff_tarmy@waters.com
or
John
Lynch, 508-482-2314
Investor Relations
john_lynch@waters.com