Management ChangeJul 14, 2026, 05:26 PM
Pentair Appoints Interim CFO; Revises 2026 Guidance Downward
AI Summary
Pentair plc announced a significant management change with the resignation of Executive Vice President and CFO Nicholas J. Brazis, effective July 10, 2026. Robert P. Fishman, a former CFO of the company, has been appointed Interim Executive Vice President and CFO. Concurrently, Pentair provided preliminary second-quarter 2026 financial results and revised its full-year 2026 guidance downwards, primarily due to a more pronounced inventory realignment in the Pool channel and worsening business conditions. The company expects Q2 sales to be approximately $930 million and Adjusted EPS around $1.12, with full-year sales projected to be down 4%-7% and Adjusted EPS between $4.60-$4.80.
Key Highlights
- Nicholas J. Brazis resigned as Executive VP and CFO effective July 10, 2026.
- Robert P. Fishman appointed Interim Executive VP and CFO, effective July 14, 2026.
- Mr. Fishman will receive a monthly base salary of $125,000 and a $1,000,000 RSU grant.
- Preliminary Q2 2026 sales expected to be approximately $930 million, down 17% from previous guidance.
- Preliminary Q2 2026 Adjusted EPS expected to be approximately $1.12, down from previous guidance of $1.47-$1.50.
- Full-year 2026 sales guidance revised to be down approximately 4%-7% (previously up 2%-4%).
- Full-year 2026 Adjusted EPS guidance revised to approximately $4.60-$4.80 (previously $5.30-$5.40).
- Company repurchased approximately 2.0 million shares for $150 million in Q2 2026.
Price Impact
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