NORTH ANDOVER, Mass.--(EON: Enhanced Online News)--Watts Water Technologies, Inc. (NYSE: WTS) today announced that Ram Ramakrishnan has been appointed as Executive Vice President, Strategy and Business Development. In this role, Mr. Ramakrishnan will be responsible for leading the development of Watts Water’s strategic planning and growth processes as well as leading the Company’s domestic and international acquisition activities. Mr. Ramakrishnan brings many years of experience in developing corporate and business strategies and in achieving growth through organic initiatives and acquisitions. Most recently, he was Vice President of New Growth Platforms at Avery Dennison Corporation. Prior to Avery Dennison, Mr. Ramakrishnan was Vice President, Strategy and Corporate Development at Millipore Corporation. Earlier, he served as Senior Vice President, Growth at Pentair, Inc. where he led the strategic transformation of the company, orchestrating and integrating 20 water-related acquisitions. He began his career as a Global Strategist for McKinsey & Company. Mr. Ramakrishnan holds a Bachelor of Technology degree in Chemical Engineering from the Indian Institute of Technology and a Master of Business Administration degree from Harvard Business School.
“We are very pleased to add to our team someone with Ram’s expertise in developing business strategies coupled with his extensive experience in acquisitions. We believe that Ram will be a valuable asset to our Company in continuing to grow and expand our business globally.”
David J. Coghlan, President and Chief Executive Officer, commented, “We are very pleased to add to our team someone with Ram’s expertise in developing business strategies coupled with his extensive experience in acquisitions. We believe that Ram will be a valuable asset to our Company in continuing to grow and expand our business globally.”
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. Watts’ expertise in a wide variety of water technologies enables Watts to be a comprehensive supplier to the water industry.
This Press Release includes statements that are not historical facts and are considered forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Watts Water Technologies’ current views about future results of operations and other forward-looking information. In some cases you can identify these statements by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should” and “would” or similar words. You should not rely on forward-looking statements because Watts’ actual results may differ materially from those indicated by these forward-looking statements as a result of a number of important factors. These factors include, but are not limited to, the following: the effectiveness of our operational excellence initiatives and cost recovery actions; the current economic and financial condition, which can affect levels of housing starts and remodeling, affecting the markets where the Company’s products are sold, manufactured, or marketed; shortages in and pricing of raw materials and supplies; difficulties in converting lead free products; loss of market share through competition; introduction of competing products by other companies; pressure on prices from competitors, suppliers, and/or customers; changes in variable interest rates on Company borrowings; identification and disclosure of material weaknesses in our internal control over financial reporting; failure to expand our markets through acquisitions; failure or delay in developing new products; lack of acceptance of new products; failure to manufacture products that meet required performance and safety standards; foreign exchange rate fluctuations; cyclicality of industries, such as plumbing and heating wholesalers and home improvement retailers, in which the Company markets certain of its products; environmental compliance costs; product liability costs; the results and timing of the Company’s manufacturing restructuring plan; changes in the status of current litigation; and other risks and uncertainties discussed under the heading “Item 1A. Risk Factors” and in Note 14 of the Notes to the Consolidated Financial Statements in the Watts Water Technologies, Inc. Annual Report on Form 10-K for the year ended December 31, 2012 filed with the Securities Exchange Commission and other reports Watts files from time to time with the Securities and Exchange Commission. Watts does not intend to, and undertakes no duty to, update the information contained in this Press Release, except as required by law.