Flowserve Names Karyn F. Ovelmen Chief Financial Officer

Ovelmen will join Flowserve from LyondellBasell Industries N.V., one of the world s largest plastics and chemicals companies, where she has served as Executive Vice President and Chief Financial Officer since 2011. Ovelmen also serves as a member of LyondellBasell s Management Board, which oversees the strategies, policies and resources for that company, which has approximately $45 billion in revenues, 13,000 employees worldwide and 58 manufacturing sites in 18 countries.

"I am delighted to welcome Karyn to the Flowserve leadership team," said Mark Blinn, Flowserve president and chief executive officer. "Karyn brings a strong track record of success, is an operationally-focused executive and has substantial international experience. Her in-depth understanding of the industries we serve and her demonstrated results from partnering with operations to drive growth while implementing significant strategic, operational and financial improvements will position her to quickly add value at Flowserve. In short, Karyn is exactly the type of leader Flowserve desired for this role, and we look forward to her many contributions in the years ahead."

Prior to LyondellBasell, Ovelmen served as Chief Financial Officer at both Petroplus Holdings AG, Europe s largest independent refiner at the time, and Argus Atlantic Energy, the predecessor company to Petroplus. Ovelmen began her corporate career at Premcor, Inc., following 12 years in public accounting with PriceWaterhouseCoopers. A certified public accountant, Ovelmen earned her bachelor s degree from the University of Connecticut.