Offshore staff
DALLAS– Flowserve Corp. has formed a new operational leadership structure, resulting in senior leadership changes, and certain 2011 financial data.
Highlights include:
• Forms unified operational leadership structure under newly created COO position
• Thomas L. Pajonas promoted to COO
• Thomas E. Ferguson to retire from company at the end of 2012
• Reaffirms 2011 full year EPS target range of $7.45 to $7.85
• Full year 2011 bookings of $4.65 billion, up 10% compared to 2010
• 4Q 2011 bookings of $1.13 billion, up 9.2% compared to 4Q 2010
• 2011 year-end cash balance of approximately $325 million.
Mark Blinn, Flowserve president and CEO, said: "We believe this new leadership structure positions the company to better leverage operational excellence, cost reduction initiatives and internal synergies across our entire operating platform to drive further growth and increased shareholder value."
01/12/2012
