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CIRCOR Announces Executive Leadership Changes

Stocks in this article: CIR

CIRCOR International, Inc. (NYSE: CIR), a leading provider of valves and other highly engineered products for the energy, aerospace and industrial markets, today announced changes to the Company's executive leadership team. Effective immediately, Bill Higgins has stepped down as the Company’s President, Chairman and Chief Executive Officer in order to pursue other interests.

The CIRCOR Board of Directors has appointed Wayne Robbins, currently President, CIRCOR Flow Technologies Group, as Executive Vice President and Chief Operating Officer, and Acting President and Chief Executive Officer, effective immediately. David Dietz, who has served on the CIRCOR Board of Directors since 1999 and most recently as Lead Independent Director, has been appointed Chairman of the Board.

The CIRCOR Board has initiated a search process and is in the process of retaining a leading executive search firm to identify a permanent President and CEO, and is conducting a separate search process to identify a permanent President of CIRCOR Flow Technologies Group. The search processes will include a full review of internal and external candidates. The Company expects to appoint an Interim President of CIRCOR Flow Technologies Group shortly.

“We are fortunate to have a proven leader of Wayne’s caliber to serve as Chief Operating Officer of CIRCOR, as well as Acting President and CEO,” said Mr. Dietz. “Wayne has been a valuable member of the CIRCOR leadership team for six years, and has successfully led the growth and margin expansion of our Flow Technologies Group while also overseeing the turnaround of Pibiviesse, our control ball valve manufacturer in Italy. Wayne’s deep understanding of CIRCOR’s business lines and his history with the Company gives us confidence in his ability to lead CIRCOR as we conduct our search for a permanent replacement.”

"On behalf of the Board of Directors and everyone at CIRCOR, I thank Bill for his leadership, commitment and contributions to CIRCOR over the last seven years. Bill has been an important member of our team and we wish him all the best in his future endeavors," added Mr. Dietz.

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