GOLDEN VALLEY, Minn., Oct. 3 /PRNewswire-FirstCall/ -- To accelerate its
global growth initiatives, Pentair (NYSE: PNR) today announced a management
realignment. Effective immediately, international operations are the
responsibility of Vice Chairman Richard J. Cathcart and all non-North American
businesses now report to Mr. Cathcart. Also effective immediately, North
American operations are realigned. President and Chief Operating Officer
Charles M. Brown remains responsible for Pump and Pool operations. President
and Chief Operating Officer Michael V. Schrock is now responsible for
Filtration and Enclosures operations.
The Company also stated that Cathcart retains strategic leadership of its
Water segment, and Schrock retains strategic leadership of its Enclosures
segment.
"Pentair's global growth initiatives demand appropriate focus across
multiple fronts. This management realignment better enables Pentair to
penetrate new markets, leverage our regional presence and manage our cost
structure," said Randall J. Hogan, chairman and chief executive officer.
"Pentair's leadership team offers great depth and a track record of
success. With this realignment, we further enhance our ability to serve global
customers."
Cathcart joined Pentair in 1995. Earlier this year, he was named vice
chairman with primary responsibility for international growth and business
development. Brown joined Pentair in 2003. After a brief absence related to
Pentair's sale of its former Tools business in 2004, he returned to Pentair
this year. Schrock joined Pentair in 1998. He was named president and
chief operating officer of Enclosures in 2001, after successive leadership
roles in both the Water and Enclosures segments.
The Company noted that its financial reporting structure is not affected
by this announcement.
About Pentair, Inc.
Pentair ( http://www.pentair.com ) is a diversified operating company
headquartered in Minnesota. Its Water Group is a global leader in providing
innovative products and systems used worldwide in the movement, treatment,
storage and enjoyment of water. Pentair's Enclosures Group is a
leader in the global enclosures market, designing and manufacturing standard,
modified and custom enclosures that house and protect sensitive electronics
and electrical components. With 2004 revenues from continuing operations of
$2.28 billion, or $2.76 billion on a pro forma basis, Pentair has
approximately 13,000 employees worldwide.
Rachael Jarosh Mark Cain
Communications Investor Relations
Tel.: (763) 656-5280 Tel.: (763) 656-5278
E-mail: [email protected] E-mail: [email protected]
SOURCE Pentair, Inc.
-0- 10/03/2005
/CONTACT: Rachael Jarosh, Communications, +1-763-656-5280,
[email protected] , or, Mark Cain, Investor Relations,
+1-763-656-5278, [email protected] , both of Pentair, Inc./
/Web site: http://www.pentair.com /
(PNR)
CO: Pentair, Inc.
ST: Minnesota
IN: HOU MAC
SU: PER
TG-AM
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6268 10/03/2005 18:00 EDT http://www.prnewswire.com