Pentair Ltd. (PNR:US), a water filtration, fluids and equipment-protection company, said President and Chief Operating Officer Michael Schrock will retire at the end of the year and that the position won’t be replaced.
The company’s shares have risen 51 percent over the past year as Pentair merged with Tyco International Ltd.’s flow-control business,
“With the one-year anniversary of the Tyco Flow Control merger, it is the right time to make this transition,” Schrock, 60, said in today’s statement. Pentair, incorporated in Switzerland for tax reasons, has its main offices in Minneapolis.
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