KENT, Wash., July 5 /PRNewswire-FirstCall/ -- Flow International, Corp.
(Nasdaq: FLOW), the leader in the development and manufacture of ultrahigh-
pressure water jet technology, today announced that the Board of Directors
has named Charles "Charley" Brown as the Company's new Chief Executive
Officer, effective upon the retirement of Stephen Light, whose plan to
retire was announced in February, 2007. Mr. Light will remain as CEO
through the announcement of fiscal 2007 earnings and the earnings call,
which is expected to take place July 12, 2007, and through the filing of
the 2007 10-K. Mr. Brown's employment as CEO will begin immediately
thereafter.
"I couldn't be more pleased that Charley will serve as Flow's next CEO.
His demonstrated leadership and outstanding track record give us full
confidence in his ability to drive growth within the Company. We look
forward to working with Charley and are excited to welcome him to the Flow
team," said Kathryn Munro, Flow's Chairman of the Board. "On behalf of the
board, we would like to thank Stephen Light for his leadership in the
successful turnaround of Flow. Under his guidance, Flow increased value for
shareholders and helped position the Company for future growth. We wish him
well in his future endeavors."
During Charley Brown's 23 year career he has held ever increasing
positions of responsibility and leadership at Johnson & Johnson, Black &
Decker Corporation, Masco Corporation and at Pentair, Inc. Most recently
Charley was the President and Chief Operating Officer of the Pump, Pool and
Spa Divisions at Pentair, Inc, a company with 2006 revenues of
approximately $3.15 billion. In this position Mr. Brown had full P&L
responsibility for two divisions with eight businesses and eleven factories
representing $1.5 billion in annual sales. During his tenure, these
divisions integrated the acquisition of a major competitor and many of the
businesses achieved record sales and profits.
About Flow International
Flow International Corporation is the world's leading developer and
manufacturer of ultrahigh-pressure waterjet cutting technology to
industries including automotive, aerospace, job shop, surface preparation,
and more. For more information, visit http://www.flowcorp.com.
Flow International Corporation
Contact: Flow Investor Relations
253-813-3286
This press release contains forward-looking statements relating to
future events that involve risks and uncertainties. The words "believe,"
"expect," "intend," "anticipate," variations of such words and similar
expressions identify forward-looking statements but their absence does not
mean that the statement is not forward-looking. These statements are only
predictions and actual results could differ materially from those
anticipated in these statements based on a number of risk factors,
including those set forth in the April 30, 2006 Flow International
Corporation Form 10-K Report filed with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements that speak only as of the date of this
announcement.
The Company is under no obligation, and does not intend, to update any
of the forward looking statements in this press release.
SOURCE Flow International Corporation
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Related links:
http://www.flowcorp.com
CONTACT:
Investor Relations of Flow International
Corporation, +1-253-813-3286
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