- Xylem (NYSE: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)