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Waters Corporation Appoints Dan Brennan and Mark Vergnano to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Waters Corporation (NYSE:WAT) has appointed Dan Brennan and Mark Vergnano to its Board of Directors, effective November 23, 2022. Brennan, currently CFO at Boston Scientific, and Vergnano, former CEO of The Chemours Company, bring extensive experience crucial for Waters' growth strategy. Their addition follows a robust board refreshment process, making the board nine members strong, with eight independent. Chairman Dr. Flemming Ornskov highlights their potential to enhance operational and financial expertise as Waters implements its growth initiatives.
Positive
Appointment of experienced leaders enhances board expertise in finance and operations.
Dan Brennan's financial background may drive improved financial performance.
Mark Vergnano's transformational leadership experience could support operational growth.
Negative
Potential concerns about continuity and experience gaps with new board members.
MILFORD, Mass.--(BUSINESS WIRE)--
Waters Corporation (NYSE:WAT) today announced the appointment of Dan Brennan and Mark Vergnano, to its Board of Directors, effective November 23, 2022. Mr. Brennan currently serves as Executive Vice President and Chief Financial Officer of Boston Scientific Corporation, a global medical device company, and Mr. Vergnano is the former Chairman, President and Chief Executive Officer of The Chemours Company, a chemistry company.
“Dan and Mark are outstanding leaders whose decades of experience in the medical device and chemistry industries will add tremendous value as Waters continues to execute its exciting growth strategy,” said Dr. Flemming Ornskov, Chairman of the Board. “These appointments follow a robust search and build on the work we have done to refresh our Board, with five individuals joining over the last five years. We look forward to benefitting from Mark’s and Dan’s financial and operational expertise.”
“With a reinvigorated innovation engine and growth initiatives that continue to gain traction, we are excited to welcome two new directors to our Board whose expertise will support our strong and growing momentum,” said Dr. Udit Batra, CEO and President, Waters Corporation. “Both Dan and Mark are experienced board members who have overseen highly dynamic companies and I am looking forward to collaborating with them. Dan brings two decades of finance leadership at Boston Scientific, where he oversaw successful margin and revenue growth initiatives. Mark brings deep operational expertise having led global sciences companies through transformations and significant periods of growth.”
“I am honored to join the Board of Waters, which has a strong reputation for innovation and leadership in life sciences,” said Mr. Brennan.
“Waters has undertaken a comprehensive and impressive transformation to position the Company for growth, and I am excited to contribute to the Board at this important time,” said Mr. Vergnano.
The addition of Mr. Brennan and Mr. Vergnano is part of the Board’s ongoing refreshment process. With these appointments, the Board will expand to nine members, eight of whom are independent and five of whom have been appointed in the last five years.
In his current role as Executive Vice President and Chief Financial Officer of Boston Scientific Corporation, Mr. Brennan is responsible for several company functions, including global controllership, global internal audit, corporate finance, treasury, corporate tax, investor relations, and corporate business development. Prior to that, he was the company’s Senior Vice President and Corporate Controller and held other roles of increasing responsibility within finance. He holds a B.S. in Finance and Investments and an M.B.A from Babson College and is also a certified public accountant.
Mr. Vergnano currently serves as a Partner at Sea Shell Partners. He previously served as the Chairman, President and Chief Executive Officer of The Chemours Company. Prior to that, he held roles of increasing responsibility at E.I. Dupont De Nemours & Company, culminating in his role as Executive Vice President. Mr. Vergnano received a B.S. from the University of Connecticut and an M.B.A. from Virginia Commonwealth University. He currently serves on the Board of Johnson Controls International.
Waters Corporation (NYSE:WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, and food sciences for more than 60 years. With more than 7,800 employees worldwide, Waters operates directly in more than 35 countries, including 14 manufacturing facilities, and with products available in more than 100 countries.
What is the significance of Dan Brennan and Mark Vergnano's appointment to Waters Corporation's board?
Their appointment is aimed at enhancing the board's financial and operational expertise as Waters executes its growth strategy.
When did the new board members join Waters Corporation?
Dan Brennan and Mark Vergnano officially joined the Board of Directors on November 23, 2022.
What experience do Dan Brennan and Mark Vergnano bring to Waters Corporation?
Brennan has extensive financial leadership experience from Boston Scientific, while Vergnano has a background in operational transformation from The Chemours Company.
How many members are currently on the Waters Corporation Board of Directors?
With the recent appointments, the Waters Board now consists of nine members, eight of whom are independent.
What are the potential impacts of the new board members on Waters Corporation?
The new members may provide fresh perspectives and strategic insights crucial to the company's growth initiatives.
