Flowserve Appoints John E. Roueche, III as Interim Chief Financial Officer

Mr. Roueche’s appointment follows Lee S. Eckert’s departure from Flowserve as senior vice president and chief financial officer, effective December 3, 2019.

Flowserve has initiated a comprehensive search to identify a permanent chief financial officer.

“Jay previously served as Flowserve’s interim CFO and we are pleased that he has agreed to do so again,” said R. Scott Rowe, Flowserve’s president and chief executive officer. “With Jay’s experience and significant understanding of our business and financials, I have the utmost confidence in his ability to lead the finance operations of the enterprise as the company searches for a permanent replacement. On behalf of our Board and management team, I would like to express our appreciation to Lee for being a key driver in the finance transformation and a valuable contributor to Flowserve. During his tenure at Flowserve, Lee shaped many improvements focused on our continued long-term financial growth and creation of enterprise value for Flowserve and our shareholders. We wish him the very best in the next chapter in his life.”

Mr. Eckert said, “It has been a privilege to be part of Flowserve’s transformation and to work with such experienced and dedicated professionals. I am confident in the company’s transformation and believe Flowserve is well-positioned to create new opportunities for growth, achieve its financial goals, and drive value to shareholders.”

In addition, Flowserve reaffirmed its 2019 guidance ranges, as previously disclosed on October 30, 2019, including its Adjusted EPS of $2.15 to $2.20.

Mr. Roueche has served as vice president, treasurer and investor relations, since October 2012. In addition, he served as Flowserve’s interim chief financial officer from February 2017 to October 2017. Prior to joining Flowserve, Mr. Roueche served in progressive accounting and finance roles with a variety of multinational companies.