Pentair Promotes Richard J. Cathcart to President and Chief Operating Officer Of Its Water Technologies Segment
MINNEAPOLIS, Jan. 17 /PRNewswire/ -- Pentair (NYSE: PNR) announced today that Richard J. Cathcart, 56, formerly executive vice president and president of Pentair's Water Technologies segment, has been named president and chief operating officer of the Water Technologies segment, effective immediately.
The promotion reflects Cathcart's increased responsibilities in the Water Technologies group as part of the restructuring of Pentair's operating entities in a plan announced last month by Randall J. Hogan, president and chief executive officer.
Cathcart, who has led Pentair's Water Technologies segment since October 1996, joined Pentair in March 1995 as executive vice president of business development after 20 years experience with domestic and international divisions of Honeywell, Inc. Under his leadership, Pentair's Water Technologies segment has grown revenues 50 percent annually over the last five years. Today, this segment represents Pentair's most profitable businesses.
Prior to joining Pentair, Cathcart was vice president and general manager of Honeywell's Worldwide Building Control Division, a $1.6 billion business serving global markets. He served as a flight commander and instructor pilot in the U.S. Air Force during the Vietnam War and holds a Bachelor's degree in Engineering Sciences from the United States Air Force Academy in Colorado Springs, Colo.
Pentair's Water Technologies segment consists of three global businesses: Pentair Pumps, Pentair Pool Equipment, and Pentair Water Treatment. These businesses manufacture pumps, water conditioning control valves, pressure vessels, water storage tanks, and pool and spa equipment for residential, commercial, industrial, municipal, and recreational markets. Segment revenues for the year 2000 are expected to increase approximately 50 percent over 1999 levels, while operating income is expected to gain approximately 60 percent on the same basis.
Pentair ( http://www.pentair.com ) is a Minneapolis-based manufacturer whose core businesses compete in tools, water technologies, and enclosures markets. The company employs 14,000 people in more than 50 locations around the world
For more information, contact: Mark Cain of Pentair, 612-486-2761. SOURCE Pentair
Source: Pentair plc.