Oct. 20, 2009 (Business Wire) -- Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced the creation of the “Office of the CFO” to oversee chief financial officer responsibilities. Flowserve President and Chief Executive Officer Mark A. Blinn served previously as CFO before being named to his President and Chief Executive Officer position on October 1, 2009.
The Office of the CFO is composed of Richard J. Guiltinan, vice president finance and chief accounting officer, and Dean P. Freeman, vice president finance and treasurer. In addition to his current role, Guiltinan is designated principal financial officer for SEC reporting purposes and assumes new corporate tax oversight responsibilities. Freeman maintains his treasurer role and assumes new financial planning and analysis (FP&A) and investor relations oversight responsibilities.
“I believe the decision to divide the CFO responsibilities between Dick and Dean will benefit Flowserve by leveraging their strengths, capabilities and experiences,” said Blinn. “The Office of the CFO allows these two individuals, working together, to provide leadership and direction to the organization into the future.”
Guiltinan joined Flowserve in 2004 and was instrumental in the company’s successful accounting restatement completion efforts. He served previously as chief financial officer for Caltex Corporation, a joint venture between Chevron and Texaco. Freeman came to Flowserve in 2006 as vice president of finance for the Flowserve Pump Division and moved to the treasurer role in May 2009. Prior to Flowserve, he served as chief financial officer, European operations, for Stanley Works Corporation.
About Flowserve Corp.
Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 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 Web site 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.
