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New leadership structure at Pentair
FILTRATION INDUSTRY ANALYST OCTOBER 2006 ISSN 1365-6937 www.filtsep.com
BUSINESS NEWS FOR THE FILTRATION AND SEPARATION INDUSTRIES
NEWS
NEW LEADERSHIP STRUCTURE AT PENTAIR Pentair Inc has appointed Michael Schrock to the newly created role of president and chief operating officer (COO). Schrock, 53, will report to Pentair chairman and chief executive officer (CEO), Randall Hogan. “This new structure streamlines our leadership communication channels and provides for broader coordination of operations with more direct cost controls across the company, which is critical as we face shifting market conditions,” said Hogan. In his new role, Schrock will accelerate the implementation of Pentair’s operating disciplines, including lean enterprise, aimed at driving improved margins and organic growth. Schrock will also assume responsibility for all of Pentair’s operating segments: he will continue to lead the Technical Products group and the Filtration business, while gaining responsibility for the remaining Water businesses. Pentair vice chairman Rick Cathcart will continue to be responsible for global growth, strategy and acquisitions for the company.
The new structure eliminates the position of president and COO of the Pump and the Pool & Spa businesses, a position held by Charles Brown since April 2005. Brown has left Pentair to pursue other opportunities. “The opportunity to work more closely with the Water Group to meet Pentair’s immediate goals and improve our operations for future success is exciting. We face some immediate challenges and great opportunities, and I am energised by this new role.” said Schrock. Schrock joined Pentair in March 1998 as president of the Pump business, becoming president of the Pump and the Pool & Spa businesses in 2000. He was named president and COO of Pentair’s Technical Products Group in 2001 and assumed responsibility for Pentair’s Filtration business in October 2005.
COMMENT A seasoned industry and Pentair executive, Michael Schrock is well placed to address the shifting market conditions that Pentair is currently experiencng (see News, page 3). ■
DOW FORMS DEDICATED WATER UNIT The Dow Chemical Co has formed Dow Water Solutions, a market facing business unit designed to advance the science of desalination, water purification, contaminant removal and water recycling. The new water business becomes Dow’s fourth marketfacing business. Applying similar business models as Dow Building Solutions, Dow Automotive and Dow AgroSciences, the unit will focus on meeting water industry customers’ needs by leveraging the full capabilities and technologies found across Dow. “Dow Water Solutions will provide a range of competitive water treatment products that allow our customers to stimulate and capture industry growth, while continuing to improve access to higher quality water supplies that are more affordable and sustainable for communities and industries worldwide,” explained Andrew Liveris, Dow Chemical Co chairman and CEO. Part of Dow’s strategy is to focus on developing more technology-driven, market facing businesses to accelerate a portfolio shift to Performance businesses, driving higher growth and more consistent profitability for the company. The new framework for Dow
Water Solutions also further solidifies Dow’s commitment to provide pure water for both industrial and drinking water applications globally as part of the company’s Sustainability Goals for 2015, announced in May 2006. “Core to our pursuit of market facing businesses, we will leverage our intimate knowledge of the water industry value chain to work with cities, countries and customers everywhere to apply our best thinking and technology in response to the world’s growing needs for clean water,” said Romeo Kreinberg, Dow’s executive vice president, Performance Plastics and Chemicals portfolio. With revenues of approximately US$350 million and more than 1000 employees, Dow Water Solutions has five production facilities to manufacture, market and sell FILMTEC reverse osmosis membranes, DOWEX ion exchange resins, ultrafiltration and electrodeionisation products and other technologies. “Over the years, we have developed and acquired a selective portfolio of complementary components that are critical to the functionality of water purification systems,” said Ian Barbour, general manager, Dow Water Solutions. In July Dow expanded its portfolio with the acquisition of China’s Zhejiang Omex Environmental Engineering Co Ltd.
CONTENTS COMPANY PROFILE 9–10 COMPANY WATCH 11–13 DIARY 15 DIVIDENDS 6 EXCHANGE RATES 16 FINANCIAL CALENDAR 14 IN BRIEF 3,4,8 NEWS 1,2,3,4,5,6,16 NPD 14 ORDERS 7 PEOPLE 8 STOCK WATCH 15 ISSN 1365-6937/06 © 2006 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.
BUSINESS NEWS FOR THE FILTRATION AND SEPARATION INDUSTRIES
NEWS
NEW LEADERSHIP STRUCTURE AT PENTAIR Pentair Inc has appointed Michael Schrock to the newly created role of president and chief operating officer (COO). Schrock, 53, will report to Pentair chairman and chief executive officer (CEO), Randall Hogan. “This new structure streamlines our leadership communication channels and provides for broader coordination of operations with more direct cost controls across the company, which is critical as we face shifting market conditions,” said Hogan. In his new role, Schrock will accelerate the implementation of Pentair’s operating disciplines, including lean enterprise, aimed at driving improved margins and organic growth. Schrock will also assume responsibility for all of Pentair’s operating segments: he will continue to lead the Technical Products group and the Filtration business, while gaining responsibility for the remaining Water businesses. Pentair vice chairman Rick Cathcart will continue to be responsible for global growth, strategy and acquisitions for the company.
The new structure eliminates the position of president and COO of the Pump and the Pool & Spa businesses, a position held by Charles Brown since April 2005. Brown has left Pentair to pursue other opportunities. “The opportunity to work more closely with the Water Group to meet Pentair’s immediate goals and improve our operations for future success is exciting. We face some immediate challenges and great opportunities, and I am energised by this new role.” said Schrock. Schrock joined Pentair in March 1998 as president of the Pump business, becoming president of the Pump and the Pool & Spa businesses in 2000. He was named president and COO of Pentair’s Technical Products Group in 2001 and assumed responsibility for Pentair’s Filtration business in October 2005.
COMMENT A seasoned industry and Pentair executive, Michael Schrock is well placed to address the shifting market conditions that Pentair is currently experiencng (see News, page 3). ■
DOW FORMS DEDICATED WATER UNIT The Dow Chemical Co has formed Dow Water Solutions, a market facing business unit designed to advance the science of desalination, water purification, contaminant removal and water recycling. The new water business becomes Dow’s fourth marketfacing business. Applying similar business models as Dow Building Solutions, Dow Automotive and Dow AgroSciences, the unit will focus on meeting water industry customers’ needs by leveraging the full capabilities and technologies found across Dow. “Dow Water Solutions will provide a range of competitive water treatment products that allow our customers to stimulate and capture industry growth, while continuing to improve access to higher quality water supplies that are more affordable and sustainable for communities and industries worldwide,” explained Andrew Liveris, Dow Chemical Co chairman and CEO. Part of Dow’s strategy is to focus on developing more technology-driven, market facing businesses to accelerate a portfolio shift to Performance businesses, driving higher growth and more consistent profitability for the company. The new framework for Dow
Water Solutions also further solidifies Dow’s commitment to provide pure water for both industrial and drinking water applications globally as part of the company’s Sustainability Goals for 2015, announced in May 2006. “Core to our pursuit of market facing businesses, we will leverage our intimate knowledge of the water industry value chain to work with cities, countries and customers everywhere to apply our best thinking and technology in response to the world’s growing needs for clean water,” said Romeo Kreinberg, Dow’s executive vice president, Performance Plastics and Chemicals portfolio. With revenues of approximately US$350 million and more than 1000 employees, Dow Water Solutions has five production facilities to manufacture, market and sell FILMTEC reverse osmosis membranes, DOWEX ion exchange resins, ultrafiltration and electrodeionisation products and other technologies. “Over the years, we have developed and acquired a selective portfolio of complementary components that are critical to the functionality of water purification systems,” said Ian Barbour, general manager, Dow Water Solutions. In July Dow expanded its portfolio with the acquisition of China’s Zhejiang Omex Environmental Engineering Co Ltd.
CONTENTS COMPANY PROFILE 9–10 COMPANY WATCH 11–13 DIARY 15 DIVIDENDS 6 EXCHANGE RATES 16 FINANCIAL CALENDAR 14 IN BRIEF 3,4,8 NEWS 1,2,3,4,5,6,16 NPD 14 ORDERS 7 PEOPLE 8 STOCK WATCH 15 ISSN 1365-6937/06 © 2006 Elsevier Ltd. All rights reserved. This journal and the individual contributions contained in it are protected under copyright by Elsevier Ltd, and the following terms and conditions apply to their use: Photocopying Single photocopies of single articles may be made for personal use as allowed by national copyright laws. Permission of the publisher and payment of a fee is required for all other photocopying, including multiple or systematic copying, copying for advertising or promotional purposes, resale, and all forms of document delivery. Special rates are available for educational institutions that wish to make photocopies for non-profit educational classroom use.