Xylem Appoints New CEO - Analyst Blog

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Xylem Inc. ( XYL ), a leading name in the water solutions sector, has recently announced changes in its top management. Ms. Gretchen W. McClain, who was serving the company in the power of Chief Executive Officer (CEO) and President, has decided to step down, effective immediately.

Ms. McClain had been associated with Xylem since the company's divestiture from ITT Corporation ( ITT ) in Oct 2011. Prior to this, Ms. McClain was working as the President of ITT Corp.'s Residential & Commercial Water business and later as President of the ITT Fluid and Motion Control business.

Mr. Steven R. Loranger, currently a director of Xylem, has been appointed as the new CEO. In the meantime, Xylem has begun the search for Ms. McClain's successor as this is a temporary appointment. Prior to the spin off, Mr. Loranger was serving ITT Corp. in the power of Chairman, President and CEO of ITT Corporation.

Mr. Loranger's long-standing association with the company will enable him to drive Xylem to newer heights.

With the appointment of the new CEO, Xylem reaffirmed its previously issued guidance. Revenues for 2013 are expected to be roughly $3.7 billion. Adjusted net income for 2013 is expected in the range of $260.0 million to $279.0 million, representing $1.40 to $1.50 earnings per share. Reported net income for 2013 is estimated in the range of $205.0 million to $237.0 million or $1.10 to $1.27 per share.

Xylem is based in White Plains, N.Y. and operates in more than 150 countries worldwide. The company currently has a $4.96 billion market capitalization and carries a Zacks Rank #5 (Strong Sell).

Other stocks to watch out for in the industry include Gorman-Rupp Co. ( GRC ) and Graham Corp. ( GHM ), both retain a Zacks Rank #1 (Strong Buy).



GRAHAM CORP (GHM): Free Stock Analysis Report

GORMAN RUPP CO (GRC): Free Stock Analysis Report

ITT CORP (ITT): Free Stock Analysis Report

XYLEM INC (XYL): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: CEO , GHM , GRC , ITT , XYL

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