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Flowserve Names Michael S. Taff Chief Financial Officer

Flowserve Corporation announced that Michael S. Taff has been named the company s senior vice president and chief financial officer.

Taff will formally join the company after completing his consulting duties with his former employer, which is expected in early 2012. He will report to Mark Blinn, president and chief executive officer.

"Michael is an ideal fit for the CFO position at Flowserve and we are excited to have him join the company," said Blinn. "He has a wealth of accounting and corporate finance experience and his strong background in the global energy, industrial and infrastructure markets will be tremendously valuable as we continue to move forward and grow our business."

Taff, 49, most recently served as senior vice president and chief financial officer for The Babcock & Wilcox Company, a $2.7 billion leader in clean energy technology and services, primarily for their nuclear, fossil and renewable power markets, as well as a premier advanced technology and mission critical defense contractor.

Prior to that role, Taff was senior vice president and chief financial officer for McDermott International, Inc., a $6 billion leader in designing and executing complex offshore oil and gas projects, which spun off The Babcock & Wilcox Company. As McDermott CFO, Taff oversaw financial functions including accounting, tax, investor relations, treasury, internal audit and controls, financial reporting, and financial analysis and information technology. Taff earlier served as chief accounting officer at McDermott.

Taff has also held finance leadership roles at HMT, Inc., Philip Services Corporation and British Petroleum Oil Company. He spent nine years in public accounting at Price Waterhouse, has a bachelor of business administration degree in accounting from Stephen F. Austin State University and is a certified public accountant.

Richard J. Guiltinan, the company s current senior vice president, finance and chief accounting officer, previously announced his planned retirement in 2012 and will work closely with Taff for an orderly transition of financial leadership responsibilities at the company.

Source: Flowserve

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