Flowserve Holds 2015 Annual Meeting of Shareholders
(Thomson Reuters ONE) -
DALLAS, May 21, 2015 - Flowserve Corp. (NYSE: FLS), a leading provider of flow
control products and services for the global infrastructure markets, held its
2015 Annual Meeting of Shareholders today in Irving, Texas.
The company confirmed at the annual meeting that James O. Rollans retired as a
member of the Board of Directors effective after the annual meeting. "Jim
provided more than 17 years of distinguished service to Flowserve," said Mark
Blinn, Flowserve President and Chief Executive Officer. "The company has
benefitted tremendously from his leadership and expertise over the years, and we
thank him for his guidance."
Concerning the official business of the meeting, the company announced that its
shareholders re-elected William C. Rusnack, Mark A. Blinn, Leif E. Darner, Gayla
J. Delly, Lynn L. Elsenhans, Roger L. Fix, John R. Friedery, Joe E. Harlan, Rick
J. Mills, Charles M. Rampacek and David E. Roberts to the company's Board of
Directors, each to serve an annual term expiring at the 2016 Annual Meeting of
Shareholders. Biographies for all members of the Board of Directors can be found
in the company's 2015 Proxy Statement or on www.flowserve.com.
Voting results indicate that shareholders approved an advisory vote on executive
compensation, voting approximately 98 percent in favor of the proposal.
Voting results also indicate that shareholders re-approved the performance goals
in the Flowserve Corporation Equity and Incentive Compensation Plan, voting
approximately 97 percent in favor of the proposal.
Additionally, shareholders ratified the appointment of PricewaterhouseCoopers
LLP as the company's independent registered public accounting firm for 2015.
Finally, in line with the recommendation of the Board of Directors, shareholders
rejected a shareholder proposal requesting the ability to act by written consent
outside of an annual or special meeting.
Final voting results on all agenda items will be available in a Current Report
on Form 8-K to be filed by the company following certification by the company's
inspector of elections.
Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636
Media Contacts:
Lars Rosene, Vice President, Global Communications and Public Affairs, (972)
443-6644
Amy Allen, Manager, Global Communications and Public Affairs, (972) 443-6501
About Flowserve: 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. Words or phrases such as, "may," "should," "expects," "could,"
"intends," "plans," "anticipates," "estimates," "believes," "forecasts,"
"predicts" or other similar expressions are intended to identify forward-looking
statements, which include, without limitation, earnings forecasts, statements
relating to our business strategy and statements of expectations, beliefs,
future plans and strategies and anticipated developments concerning our
industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our
current expectations, projections, estimates and assumptions. These statements
are only predictions, not guarantees. Such forward-looking statements are
subject to numerous risks and uncertainties that are difficult to predict. These
risks and uncertainties may cause actual results to differ materially from what
is forecast in such forward-looking statements, and include, without limitation,
the following: a portion of our bookings may not lead to completed sales, and
our ability to convert bookings into revenues at acceptable profit margins;
changes in the global financial markets and the availability of capital and the
potential for unexpected cancellations or delays of customer orders in our
reported backlog; our dependence on our customers' ability to make required
capital investment and maintenance expenditures; risks associated with cost
overruns on fixed-fee projects and in taking customer orders for large complex
custom engineered products; the substantial dependence of our sales on the
success of the oil and gas, chemical, power generation and water management
industries; the adverse impact of volatile raw materials prices on our products
and operating margins; economic, political and other risks associated with our
international operations, including military actions or trade embargoes that
could affect customer markets, particularly Middle Eastern markets and global
oil and gas producers, and non-compliance with U.S. export/re-export control,
foreign corrupt practice laws, economic sanctions and import laws and
regulations; increased aging and slower collection of receivables, particularly
in Latin America and other emerging markets; our exposure to fluctuations in
foreign currency exchange rates, including in hyperinflationary countries such
as Venezuela; our furnishing of products and services to nuclear power plant
facilities and other critical processes; potential adverse consequences
resulting from litigation to which we are a party, such as litigation involving
asbestos-containing material claims; a foreign government investigation
regarding our participation in the United Nations Oil-for-Food Program;
expectations regarding acquisitions and the integration of acquired businesses;
our relative geographical profitability and its impact on our utilization of
deferred tax assets, including foreign tax credits; the potential adverse impact
of an impairment in the carrying value of goodwill or other intangible assets;
our dependence upon third-party suppliers whose failure to perform timely could
adversely affect our business operations; the highly competitive nature of the
markets in which we operate; environmental compliance costs and liabilities;
potential work stoppages and other labor matters; our inability to protect our
intellectual property in the U.S., as well as in foreign countries; obligations
under our defined benefit pension plans; and other factors described from time
to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on
information available to us on the date hereof, and we assume no obligation to
update any forward-looking statement.
###
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Flowserve Corporation via GlobeNewswire
[HUG#1923380]
Unternehmensinformation / Kurzprofil:
Datum: 22.05.2015 - 04:44 Uhr
Sprache: Deutsch
News-ID 395236
Anzahl Zeichen: 8207
contact information:
Town:
Irving, TX
Kategorie:
Business News
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