CIRCOR Names Scott Buckhout President and Chief Executive Officer
April 09 2013 - 7:12AM
Business Wire
CIRCOR International, Inc. (NYSE: CIR), a leading provider
of valves and other highly engineered products for the energy,
industrial and aerospace markets, today announced that its Board of
Directors has appointed Scott Buckhout as President and Chief
Executive Officer, effective immediately. Mr. Buckhout, who most
recently served as President of United Technologies Corporation’s
(“UTC”) $7 billion Fire and Security division, has also been
appointed to the Company’s Board of Directors. Wayne Robbins, who
has served as Acting President and Chief Executive Officer since
December 2012, will continue as CIRCOR’s Executive Vice President
and Chief Operating Officer.
“On behalf of the Board of Directors, I am delighted to welcome
Scott as CIRCOR’s next President and CEO,” said David Dietz,
Chairman of the CIRCOR Board of Directors. “Our Board conducted a
thorough and comprehensive search over the past four months and
unanimously concluded that Scott is best suited to lead CIRCOR
through its next phase of growth and development. Scott has a
proven record of improving the performance of manufacturing
businesses such as CIRCOR’s, identifying and successfully
integrating and rationalizing acquisitions, and driving organic and
acquisitive growth. We are excited about CIRCOR’s prospects for
growth and value creation with a continued focus on Lean principles
under Scott’s leadership and look forward to working closely with
him.”
Scott Buckhout said, “I am honored to lead CIRCOR, a strong
company with a diverse portfolio of products in attractive end
markets and a solid, well-managed balance sheet. I am committed to
driving improved operating results and margin expansion, as well as
growth organically and through in-market acquisitions. I am
enthusiastic about the opportunities ahead. I look forward to
working closely with CIRCOR’s Board of Directors, executive team
and talented and hard-working employees around the world to build
upon this Company’s proud history and accelerate its growth and
success.”
Added Mr. Dietz, “CIRCOR’s Board of Directors is grateful for
Wayne Robbins’ service as CIRCOR’s Acting CEO since December. Wayne
has been a valued member of CIRCOR’s leadership team for seven
years, and we are excited that he will continue to play an integral
leadership role at the Company alongside Scott Buckhout.”
About Scott Buckhout
Scott Buckhout, 46, served in a number of senior level positions
at UTC from 2007 to 2012, including President of UTC Fire &
Security, President of Global Fire Products and President, Systems
and Firefighting. Prior to UTC, Mr. Buckhout held a number of
senior roles at Honeywell International Corporation in the Consumer
Products and Friction Materials divisions. He spent five years in
Europe for UTC and Honeywell, including as Vice President and
General Manager of Honeywell’s Consumer Products Group and Friction
Materials Group EMEA. Mr. Buckhout previously worked in general
management and strategy consulting at Booz Allen & Hamilton
focused on industrial and technology clients worldwide. He started
his career as an engineer at The Boeing Company. Mr. Buckhout
earned a Master of Business Administration in Operations &
Finance from the J.L. Kellogg Graduate School of Management at
Northwestern University, and a Bachelor of Science in Aerospace
Engineering from Texas A&M University.
About CIRCOR International, Inc.
CIRCOR International, Inc. designs, manufactures and markets
valves and other highly engineered products for the energy,
industrial and aerospace markets. With more than 7,500 customers in
over 100 countries, CIRCOR has a diversified product portfolio with
recognized, market-leading brands. CIRCOR’s culture, built on the
CIRCOR Business System, is defined by the Company’s commitment to
attracting, developing and retaining the best talent and pursuing
continuous improvement in all aspects of its business and
operations. The Company’s strategy includes growing organically by
investing in new, differentiated products; adding value to
component products; and increasing the development of
mission-critical subsystems and solutions. CIRCOR also plans to
leverage its strong balance sheet to acquire strategically
complementary businesses. For more information, visit the Company’s
investor relations web site at http://investors.circor.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Reliance should not be placed on forward-looking
statements because they involve unknown risks, uncertainties and
other factors, which are, in some cases, beyond the control of
CIRCOR. Any statements in this press release that are not
statements of historical fact are forward-looking statements,
including, but not limited to, those relating to CIRCOR’s future
performance. Actual events, performance or results could differ
materially from the anticipated events, performance or results
expressed or implied by such forward-looking statements. BEFORE
MAKING ANY INVESTMENT DECISIONS REGARDING OUR COMPANY, WE STRONGLY
ADVISE YOU TO READ THE SECTION ENTITLED "RISK FACTORS" IN OUR MOST
RECENT ANNUAL REPORT ON FORM 10-K AND SUBSEQUENT REPORTS ON FORMS
10-Q, WHICH CAN BE ACCESSED UNDER THE "INVESTORS" LINK OF OUR
WEBSITE AT WWW.CIRCOR.COM. We undertake no obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.
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