), 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
Ms. McClain had been associated with Xylem since the company's
) 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
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
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
Other stocks to watch out for in the industry include
), both retain a Zacks Rank #1 (Strong Buy).
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