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Xylem names Steven Loranger as CEO until long-term boss is found

  • Xylem (XYL) names director Steven Loranger as CEO to replace Gretchen McClain, who has stepped down "to pursue other opportunities."
  • Loranger was Chairman of ITT Corporation when it spun its water businesses off as Xylem in October 2011.
  • While Loranger will take over immediately, Xylem is initiating a search to find a CEO for the longer term.
  • Xylem reiterates its FY guidance for EPS of $1.40-1.50 vs consensus of $1.43 and revenue of $3.7B vs $3.73B. (PR)
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