UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As part of a reorganization and restructuring plan to align with Flowserve Corporation’s (the “Company’s”) diversify, decarbonize and digitize strategy and in an effort to optimize operational execution, on February 13, 2023, the Company announced that Tamara Morytko, the President of the Company’s Flowserve Pumps Division, will step down from her position effective February 24, 2023. In addition, Keith Gillespie, the Company’s Senior Vice President and Chief Sales Officer, will step down from his position effective April 7, 2023. Both separations constitute terminations without Cause as defined in the Flowserve Corporation Executive Officer Severance Plan and as a result, both will receive severance payments and benefits under that plan.
As a result of these departures, the Company has appointed Lamar Duhon as the President of the Company’s Flowserve Pumps Division effective February 24, 2023 in addition to his current responsibilities. Mr. Duhon has served as the President of the Company’s Aftermarket Services and Solutions segment since he joined Flowserve in January 2022. Mr. Gillespie will continue to serve in his current capacity through April 7, 2023, while the Company transitions Mr. Gillespie’s responsibilities to Mr. Duhon and Kirk Wilson, the Company’s President of its Flow Control Division.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FLOWSERVE CORPORATION | ||||||
| Dated: February 16, 2023 | By: | /S/ AMY B. SCHWETZ | ||||
| Amy B. Schwetz | ||||||
| Senior Vice President, Chief Financial Officer | ||||||