Waters outlines succession plan for chief financial officer

Waters has announced its transition plans for its chief financial officer (CFO) role after current incumbent John Ornell revealed he will be stepping down next year.

Mr Ornell wishes to take on a reduced workload and is therefore resigning as CFO on February 1st 2014. Thereafter, he will continue to serve the company in an advisory capacity on a part-time basis.

The Waters board of directors has elected Eugene Cassis – the firm's corporate vice-president of worldwide business development and investor relations – as its new interim CFO from February onwards.

Mr Ornell has been with the company for 23 years, serving in the CFO role for the last 12 years.

Douglas Berthiaume, chairman and chief executive officer of Waters, said: "Gene brings a wealth of relevant experience and a record of success in key leadership positions while already enjoying close working relationships with our investor base, our banking contacts and with Waters' executive committee."

During the third quarter of 2013, the company generated sales of $457 million (278.16 million pounds), up by two percent year on year.