0001104659-14-071512.txt : 20141016 0001104659-14-071512.hdr.sgml : 20141016 20141014124836 ACCESSION NUMBER: 0001104659-14-071512 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20141014 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20141014 DATE AS OF CHANGE: 20141014 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WATTS WATER TECHNOLOGIES INC CENTRAL INDEX KEY: 0000795403 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS FABRICATED METAL PRODUCTS [3490] IRS NUMBER: 042916536 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11499 FILM NUMBER: 141154535 BUSINESS ADDRESS: STREET 1: 815 CHESTNUT ST CITY: NORTH ANDOVER STATE: MA ZIP: 01845 BUSINESS PHONE: 9786881811 MAIL ADDRESS: STREET 1: 815 CHESTNUT STREET CITY: NORTH ANDOVER STATE: MA ZIP: 01845 FORMER COMPANY: FORMER CONFORMED NAME: WATTS INDUSTRIES INC DATE OF NAME CHANGE: 19920703 8-K 1 a14-22412_18k.htm 8-K

 

 

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):  October 14, 2014

 

Watts Water Technologies, Inc.

(Exact Name of Registrant as Specified in Charter)

 

Delaware

 

001-11499

 

04-2916536

(State or other jurisdiction
of incorporation

 

(Commission
File Number)

 

(IRS Employer
Identification No.)

 

815 Chestnut Street, North Andover, MA

 

01845

(Address of principal executive offices)

 

(Zip Code)

 

Registrant’s 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 as of October 14, 2014, Dean P. Freeman has been terminated without cause from his positions as Executive Vice President and Chief Financial Officer of Watts Water Technologies, Inc. (the “Company”).  The Company and Mr. Freeman are currently in the process of negotiating a separation agreement and the terms of such agreement will be disclosed in a Current Report on Form 8-K once executed by both parties.  The Company has initiated a search for the Company’s next Chief Financial Officer.

 

(c)                                  Effective as of October 14, 2014, the Board of Directors of the Company appointed the Company’s current President and Chief Executive Officer, Robert J. Pagano, Jr., age 51, to serve as interim Chief Financial Officer of the Company in addition to his ongoing responsibilities as President and Chief Executive Officer.

 

Robert J. Pagano, Jr. has served as Chief Executive Officer and President of the Company since May 2014.  Mr. Pagano previously served as Senior Vice President of ITT Corporation and President, ITT Industrial Process from April 2009 to May 2014.  Mr. Pagano originally joined ITT in 1997 and served in several additional management roles during his career at ITT, including as Vice President Finance, Corporate Controller, and President of Industrial Products.  ITT Corporation is a diversified manufacturer of highly engineered critical components and customized technology solutions for the energy, transportation and industrial markets.  Prior to joining ITT, Mr. Pagano worked at KPMG LLP.  Mr. Pagano is a Certified Public Accountant.

 

A copy of the Company’s press release announcing Mr. Freeman’s termination and Mr. Pagano’s appointment as interim Chief Financial Officer is being filed as Exhibit 99 to this report.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d)                                 Exhibits

 

See Exhibit Index attached hereto.

 

2


 

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: October 14, 2014

WATTS WATER TECHNOLOGIES, INC.

 

 

 

By:

/s/ Kenneth R. Lepage

 

 

 

 

 

Kenneth R. Lepage

 

 

General Counsel

 

3


 

EXHIBIT INDEX

 

Exhibit No.

 

Title

 

 

 

99

 

Press release dated October 14, 2014

 

4

 EX-99 2 a14-22412_1ex99.htm EX-99

Exhibit 99

 

 

Contact:

Timothy M. MacPhee

 

 

Vice President of Investor Relations

 

 

 

 

Telephone:

(978) 688-1811

 

Fax:

(978) 688-2976

 

Watts Water Technologies Announces Departure

of Chief Financial Officer

 

North Andover, MA., October 14, 2014 — Watts Water Technologies, Inc. (NYSE: WTS) today announced that Dean P. Freeman, its Executive Vice President and Chief Financial Officer, has left the Company.  Robert J. Pagano, Jr., the Company’s President and Chief Executive Officer, will be acting as Chief Financial Officer on an interim basis while a search for the Company’s next Chief Financial Officer is being conducted.  Mr. Freeman’s departure was not prompted by any regulatory issues and is not related to the Company’s financial reporting, financial statements or other reporting obligations. The Company has retained a search firm and has initiated the search for the Company’s next Chief Financial Officer.

 

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. Watts Water’s expertise in a wide variety of water technologies enables Watts Water to be a comprehensive supplier to the water industry.