NORTH ANDOVER, Mass.--(BUSINESS WIRE)--Apr. 12, 2013--
Watts Water Technologies, Inc. (NYSE: WTS) announced today that its
President of North America, Srinivas K. Bagepalli, has taken an
indefinite medical leave of absence. The Company’s Chief Executive
Officer, David J. Coghlan, is supervising management of the Company’s
North America segment with day-to-day management responsibilities for
the North America organization being handled by senior members of the
North America management team. Due to uncertainty regarding the duration
of Mr. Bagepalli’s leave of absence, the Company has initiated a search
for candidates to fill the President of North America position.
David J. Coghlan, President and Chief Executive Officer, commented,
“Since Srinivas joined the Company in October 2011, his leadership and
contributions to Watts Water have been substantial. However, we have a
strong North America management team and they and I will focus our
efforts on maintaining the momentum Srinivas helped build. It is my
sincere hope that Srinivas will eventually be able to return to Watts
Water as a member of our senior management team. However, given the
uncertainty around the expected duration of his leave of absence, I have
decided that it is in the best interests of the Company to initiate a
search for a new President of North America.”
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. Its expertise in a wide variety of water
technologies enables it to be a comprehensive supplier to the water
industry.
Source: Watts Water Technologies, Inc.
Watts Water Technologies, Inc.
Dean P. Freeman, 978-688-1811
Chief
Financial Officer
Fax: 978-688-2976