Global water technology company Xylem announced that its president and CEO Patrick Decker will retire as CEO at the end of 2023, after a decade leading the company. He will be succeeded by current COO Matthew Pine on 1 Jan 2024 in accordance to its long-term succession planning process. Decker will retire from Xylem board and Pine will join as a director.
Xylem has also appointed William Grogan, formerly CFO of IDEX Corporation, to senior vice-president and CFO, effective 1 Oct 2023. Grogan succeeds Sandra Rowland who is leaving. Both Decker and Rowland will remain employed through March 2024 to serve as advisors and support the transitions.
In a statement thanking Decker for a decade of service, chair of Xylem board Robert Friel said that the company “delivered more than 300% total return to shareholders”.
COO Matthew Pine said, “As we integrate two great companies — Xylem and Evoqua — the team is committed to address intensifying global water challenges by applying technology and innovation, driving the digital transformation of water, and delivering solutions at scale. Together with our partners, we have an opportunity to deliver more impact, alongside profitable growth and value creation for our stakeholders.”
