UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 9, 2013
Watts Water Technologies, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
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001-11499 |
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04-2916536 |
(State or other juris- |
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(Commission |
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(IRS Employer |
815 Chestnut Street, North Andover, MA |
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01845 |
(Address of principal executive offices) |
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(Zip Code) |
Registrants telephone number, including area code: (978) 688-1811
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Effective April 9, 2013, the Registrants President of North America, Srinivas K. Bagepalli, has taken an indefinite medical leave of absence. The Registrants Chief Executive Officer, David J. Coghlan, is supervising management of the Registrants North America segment with day-to-day management responsibilities for the North America organization being handled by senior members of the North America management team. Due to uncertainty regarding the duration of Mr. Bagepallis leave of absence, the Registrant has initiated a search for candidates to fill the President of North America position.
A copy of the Registrants press release relating to this matter is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
See Exhibit Index attached hereto.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 12, 2013 |
WATTS WATER TECHNOLOGIES, INC. | |
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By: |
/s/ Kenneth R. Lepage |
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Kenneth R. Lepage |
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General Counsel |
Exhibit 99.1
815 Chestnut Street · North Andover, MA · 01845-6098 · Tel. (978) 688-1811
FOR IMMEDIATE RELEASE |
Contact: |
Dean P. Freeman | |
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Chief Financial Officer | |
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Telephone: |
(978) 688-1811 |
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Fax: |
(978) 688-2976 |
Watts Water Technologies Announces President of North America
has taken a Medical Leave of Absence
North Andover, MA April 12, 2013. Watts Water Technologies, Inc. (NYSE: WTS) announced today that its President of North America, Srinivas K. Bagepalli, has taken an indefinite medical leave of absence. The Companys Chief Executive Officer, David J. Coghlan, is supervising management of the Companys North America segment with day-to-day management responsibilities for the North America organization being handled by senior members of the North America management team. Due to uncertainty regarding the duration of Mr. Bagepallis leave of absence, the Company has initiated a search for candidates to fill the President of North America position.
David J. Coghlan, President and Chief Executive Officer, commented, Since Srinivas joined the Company in October 2011, his leadership and contributions to Watts Water have been substantial. However, we have a strong North America management team and they and I will focus our efforts on maintaining the momentum Srinivas helped build. It is my sincere hope that Srinivas will eventually be able to return to Watts Water as a member of our senior management team. However, given the uncertainty around the expected duration of his leave of absence, I have decided that it is in the best interests of the Company to initiate a search for a new President of North America.
Watts Water Technologies, Inc., through its subsidiaries, is a world leader in the manufacture of innovative products to control the efficiency, safety, and quality of water within residential, commercial, and institutional applications. Its expertise in a wide variety of water technologies enables it to be a comprehensive supplier to the water industry.