Waters announces strong 2015 results and executive team expansion

Waters has announced its financial results for 2015, during which it achieved a full-year sales total of $2.04 billion (1.42 billion pounds).

This represented a three percent year-on-year increase, with foreign currency translation reducing sales growth by about six percent. Its fourth-quarter sales came to $587 million, a slight increase compared to the $584 million figure from Q4 2014.

Christopher O'Connell, president and chief executive officer (CEO) of Waters, said: "2015 was a true milestone year for Waters, highlighted by impressive and balanced growth across key products and markets, the significant impact of meaningful new innovations and a smooth CEO transition."

Coinciding with the release, the company has announced plans to expand its leadership team with the formation of a new executive committee. Five of its current executives will assume broader responsibilities, working closely with Mr O'Connell.

Michael Harrington will have responsibility for global markets, Terrance Kelly will oversee its thermal analysis instruments business and Rohit Kanna will take charge of applied technology, while Ian King will lead the instrument technology unit and David Terricciano will have oversight over global operations.