Flowserve Appoints Jay Roueche Interim Chief Financial Officer

DALLAS (Feb. 24, 2017)—Flowserve Corporation announced that John E. (Jay) Roueche III, Flowserve’s vice president, investor relations and treasurer, will assume the role of interim chief financial officer, effective immediately. Roueche’s appointment follows Karyn Ovelmen’s departure from the company as executive vice president and chief financial officer, according to a statement from the company. Flowserve will initiate a search to identify a permanent chief financial officer under incoming president and CEO Scott Rowe’s direction, the statement said. “We are pleased that Jay has agreed to serve as Interim CFO during this important time to ensure a seamless transition,” said Mark Blinn, Flowserve’s president and chief executive officer. “Jay is a seasoned executive with a deep understanding of our business and financials. On behalf of our Board and management team, I thank Karyn for her financial leadership and many contributions to Flowserve. We wish her well in her future endeavors.” Ovelmen said, “It has been a privilege to work with such talented and committed individuals at Flowserve. I have great confidence in the company’s future and believe Flowserve is well-positioned to achieve its strategic and financial goals, and deliver value to shareholders.” Roueche has served as vice president, investor relations and treasurer, since October 2012. He previously served as vice president, investor relations and treasurer, of McDermott International Inc., a leading engineering, procurement, construction and installation company, from August 2010 until October 2012. From April 2006 to August 2012, he served as vice president, investor relations and corporate communications of McDermott International. In the preceding years, he served in progressive accounting and finance roles, including with Pennzoil-Quaker State Company, Pennzoil Company and Shell Oil Company.