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William McCartney is expected to remain the company's CFO until a successor is named
Watts Water Technologies Inc. announced that William C. McCartney, the company's CFO, has decided to retire after more than 27 years of service, more than 12 of which were as CFO. The company is commencing a search for a successor to McCartney, but expects to enter into a retention agreement with him pursuant to which he would remain in the position of CFO until a successor is named. He is expected to remain with the company until December 2012 to assist with the transition process.
"Watts Water has successfully navigated through a difficult global downturn and I believe it is poised to take advantage of a market recovery as a result of our strategies around growth, operational excellence and One Watts Water. Given this, I have decided this is a good time for me to close one chapter in my life and open a new one," McCartney said. "Before leaving, I want to try to assure the company's success by assisting the company in identifying a new chief financial officer to help David lead our business forward and by helping my successor successfully transition into the chief financial officer role."
McCartney joined Watts Water in 1985 as a controller. He was appointed vice president of finance in 1994 and served as corporate controller from 1988 to 1999. He was named CFO in January 2000.