Flowserve Names Freeman VP, Treasurer

Flowserve announced that Dean P. Freeman has been named Vice President and Treasurer. Freeman rotates into the role previously held by Paul Fehlman, who will continue to serve as an officer and was recently named Vice President Financial Planning and Analysis and Investor Relations.

In his new role, Freeman is responsible for global treasury operations including capital structure, cash management, foreign currency exchange, risk management and pension asset management. The role will also include Freeman serving as chairman of the Company's pension and investment committee. In this executive officer role, Freeman will report to Mark Blinn, Flowserve Senior Vice President, Chief Financial Officer and Latin America Operations.

"One of the most important aspects of our business is our capital structure and continuing to leverage the strength of our balance sheet through continued financial discipline and flexibility," said Lewis Kling, Flowserve President and Chief Executive Officer. "Dean's global finance experience and his industry knowledge will help ensure we continue to drive strategies that will optimize our capital structure, while providing opportunities for growth and value creation for our shareholders."

Freeman has more than 15 years of financial management experience. He came to Flowserve in 2006, where he has served as vice president of finance for the Flowserve Pump Division. Prior to Flowserve, Freeman served as chief financial officer, European operations, for Stanley Works Corporation. Prior to Stanley Works, Freeman held a succession of roles with increasing responsibility in financial management with United Technologies Corporation and management roles in finance for SPX Corporation.

Freeman earned a BS in Finance from the University of Connecticut in 1991 and an MBA from Rensselaer Polytechnic Institute in 1999.