Xylem Names New President, CEO
Patrick K. Decker will succeed Steven R. Loranger, who remains on the Xylem board
Xylem Inc. announced that Patrick K. Decker has been named president and CEO and will be appointed a member of the board of directors on March 17, 2014. He joins the company from Harsco Corporation, where he has been President and CEO. At Xylem, Decker succeeds Steven R. Loranger who will remain a member of the Xylem Board. Loranger was chairman, president and CEO of ITT Corp. when it spun its water businesses off as Xylem in October 2011.
“The board of directors selected Patrick because of his leadership qualities, proven track record leading large global businesses, and extensive knowledge of the water industry,” said Markos I. Tambakeras, chairman of the board of directors of Xylem Inc. “Patrick understands the economic and social implications surrounding water, and sees potential in Xylem’s unique portfolio of technology and services to solve the world’s toughest water challenges. Along with the board of directors, he is committed to a smooth transition, maintaining the strategic direction of Xylem, improving operational efficiencies and growing the business to maximize shareholder return.”
“I am energized to be back in the water industry with Xylem’s strong team, unmatched portfolio and global footprint,” Decker said. “Xylem is well positioned to build in both growth and efficiency dimensions, and with the support of the leadership team we will maintain our trajectory.”
Decker, 49, has been president and CEO of Harsco Corp., a global industrial services company, since 2012. Prior to that, he served in a number of leadership roles at Tyco International’s Flow Control business, ultimately serving as president of Tyco Flow Control, where he was able to grow revenue significantly in the emerging markets, execute the company’s largest acquisitions in Brazil and the Middle East, and champion a three-year philanthropic commitment to clean water access. In addition, he led the effort that resulted in the separation of the Flow Control business from the parent company.
Earlier in his career, he served at Bristol-Myers Squibb C. in a number of operational finance roles. Mr. Decker started his career as an auditor for Price Waterhouse LLP, now PricewaterhouseCoopers LLP. He earned a Bachelor of Science degree in accounting and finance from Indiana University, Bloomington, Ind.