Flowserve Holds 2022 Annual Meeting of Shareholders
As previously announced,
“Roger has provided steady and experienced leadership to our Board and Flowserve’s management for over 16 years,” said
Concerning the official business of the meeting, the Company announced that its shareholders re-elected
Biographies for all members of the Board can be found in the Company's 2022 Proxy Statement or on www.flowserve.com.
Voting results also indicate that shareholders did not approve an advisory vote on executive compensation, voting approximately 77.0 percent against the proposal. The company noted that it takes seriously aligning executive compensation with delivering long-term shareholder value. The Board will carefully consider perspectives of its shareholders in connection with this year’s Annual Meeting and will continue to engage with shareholders as the Board develops executive compensation plans. The company plans to conduct outreach to further understand shareholder concerns regarding our executive compensation and proactively address any issues prior to next year’s annual meeting.
Additionally, shareholders ratified the appointment of
Shareholders rejected a shareholder proposal to reduce the ownership threshold required to call a special shareholder meeting, voting approximately 54.8 percent against the proposal.
Final voting results on all agenda items will be available in a Current Report on Form 8-K to be filed by the Company following certification by the Company's inspector of elections.
Safe Harbor Statement: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: the impact of the global outbreak of COVID-19 on our business and operations; a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in global economic conditions and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, Russian and Middle Eastern markets and global oil and gas producers, and non-compliance with
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.