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Watts Water Technologies Announces Appointment of New Chief Financial Officer

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NORTH ANDOVER, Mass.--(BUSINESS WIRE)--

Watts Water Technologies, Inc. (NYSE: WTS) announced today that Dean P. Freeman has been appointed Executive Vice President and Chief Financial Officer of the Company, effective as of November 12, 2012. William C. McCartney, who announced his retirement earlier this year, will continue in the role of Chief Financial Officer until November 12th to oversee the preparation and filing of the Company's Quarterly Report on Form 10-Q for the third quarter and to assist Mr. Freeman in preparing for the transition to Chief Financial Officer of our Company.

Mr. Freeman previously served as Senior Vice President of Finance and Treasurer of Flowserve Corporation from October 2009 to October 2011. Also while at Flowserve, Mr. Freeman served as Vice President, Finance and Chief Financial Officer of the Flowserve Pump Division from 2006 to October 2009. Flowserve is a leading global provider of fluid motion and control products and services, producing engineered and industrial pumps, seals and valves as well as a range of related flow management services. Prior to Flowserve, Mr. Freeman served as Chief Financial Officer, Europe for The Stanley Works Corporation. Mr. Freeman also served in financial executive and management roles of progressive responsibility with United Technologies Corporation and SPX Corporation.

Mr. Freeman has an MBA from Rensselaer Polytechnic Institute and a Bachelor of Science degree in Business Administration from the University of Connecticut. He also served our country as a non-commissioned infantry officer in the United States Army.

David J. Coghlan, President and Chief Executive Officer, commented, “We are very pleased to welcome Dean to our team. Dean brings a wealth of global experience to us in finance, strategic management and continuous improvement from premier companies. We believe that Dean will be a valuable asset to our Company in continuing to grow and expand our business globally.”

Mr. Coghlan added, “I again want to thank Bill McCartney for his outstanding contributions to Watts Water over his long and distinguished career and for the central role he has played in our Company's success. Bill has been particularly instrumental in the Company's success over the last 12 years, making substantial contributions on the growth front through his role in the 36 acquisitions the Company has completed since 1999, on the operating front by his focus on building a strong business model able to perform in the most challenging business climate, and on the investor relations front by being our Company's face to the analyst and investor community. Those of us who have had the privilege of working with Bill have great respect for his business acumen, his integrity and his dedication during his 27 years of service to Watts Water. I wish Bill the very best as he retires.”

Watts Water Technologies, Inc. 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.

Watts Water Technologies, Inc.
William C. McCartney, 978-688-1811
Chief Financial Officer
Fax: 978-688-2976

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