NORTH ANDOVER, Mass. - Watts Water Technologies, Inc. (NYSE: WTS) announced the appointment of Shashank Patel as chief financial officer effective July 2, 2018.
Patel joins Watts from Xylem Inc., where he most recently served as vice president of finance for its Applied Water Systems, Dewatering and America’s Commercial Team.
“We are very excited to welcome Shashank to Watts and to our global leadership team,” said Robert J. Pagano, Jr., chief executive officer and president. “Shashank’s wealth of experience in manufacturing with a focus on balancing capital deployment, finance, operations, and strategic planning make him a perfect fit for our growing organization.”
During his career at Xylem, Mr. Patel held several leadership positions, including serving as interim chief financial officer for nine months in 2015 and 2016. Prior to that, Mr. Patel served as chief financial officer and vice president, finance for Xylem’s Applied Water Systems division from 2010 to July 2015.
Patel spent 21 years working globally at ITT/Xylem and held several leadership positions of increased responsibilities in finance, operations, and engineering. Additionally, Patel spent 8 years working at Ernst & Young and obtained his CPA license in 1987.
“Under Bob’s leadership, Watts has continued to grow by focusing on customer feedback and driving operational efficiencies throughout the business,” Patel said. “Watts is positioned well for future growth and continues to deliver strong financial performance and value to its shareholders. I very much look forward to getting started and building upon the positive momentum at Watts.”
Patel earned his MBA from Claremont Graduate University and his BS in Chemical Engineering from the University of London.