免费吃瓜

CHARLOTTE, N.C.,聽Nov. 23, 2015聽// -- 免费吃瓜, Inc. (NYSE: FLOW), a leading global supplier of highly engineered flow solutions, today announced that its Board of Directors has appointed聽Marc Michael聽as President and Chief Executive Officer effective聽January 1, 2016.聽 Mr. Michael was also elected to the Board of Directors effective聽January 1, 2016.聽聽Chris Kearney聽has announced his intention to retire as President and CEO at the end of 2015.聽 He will continue to serve on the Board of Directors of 免费吃瓜 as non-executive Chairman.

Mr. Kearney joined SPX Corporation in 1997 as Vice President, Secretary and General Counsel. He was named President and CEO in 2004 and appointed Chairman of the board in 2007.聽

Under Mr. Kearney's leadership, SPX Corporation underwent a significant transformation that narrowed the focus of the company and positioned the business in higher growth, higher return markets.聽 During his tenure as CEO, the company divested over twenty businesses for gross proceeds of approximately聽$5 billion.聽 The majority of those proceeds were returned to shareholders and invested in strategic acquisitions of flow businesses that ultimately became 免费吃瓜, Inc. in the spinoff transition that was completed on聽September 26, 2015.

Chris Kearney聽said, "We've built a strong FLOW business that is well-positioned as a leading supplier across our end markets.聽 With our transformation to a pure-play flow organization and independent public company now complete, the timing is right for聽Marc Michael聽to become 免费吃瓜's next President and CEO.聽 Marc's experience running global businesses, proven track record of improving operational efficiency and commitment to serving customers were key considerations to the Board's selection process.聽 His ability to translate vision and strategy into improved business process and operational execution, coupled with his ability to inspire, energize and connect with employees, customers and business partners are leadership qualities that will benefit 免费吃瓜 as we enter our next chapter, which I am confident will be even more impactful and exciting than our last."

Mr. Michael joined SPX Corporation in 2003.聽 In 2013, when the company aligned its FLOW segment by end market, Marc was named President of Food and Beverage.聽 Prior to that, he served as President of FLOW's EMEA region.聽 He has a strong understanding of all 免费吃瓜 products and key end markets.聽 Marc lived in聽Europe聽for nearly six years as a business leader and has had great success in a variety of operational roles during his career, which have provided him valuable experience running global operations.聽 He has also consistently demonstrated the ability to drive improved performance.聽 Under his direction and leadership over the past two years, the Food and Beverage business has significantly improved its customer relationships, market position and operational execution.聽 This improvement is underscored by over 250 points of margin expansion in the Food and Beverage segment over the past two years.聽聽 聽聽

"I am honored to be selected as Chris' successor and excited to lead the next chapter in the development of 免费吃瓜," said Mr. Michael.聽 "Under Chris' leadership, our company has been transformed from a U.S.-centric automotive supplier, into a global supplier of highly engineered flow solutions in the food, energy and industrial markets; markets we believe offer attractive growth opportunities over the medium to long term.聽 Today, we have an experienced leadership team and a talented, highly motivated employee base across the world that is recognized for world class engineering, quality manufacturing and commitment to customers. 聽As we look towards the future, we are investing in growth, improvement and talent development initiatives that support our strategic vision to elevate 免费吃瓜 to a world class organization.聽 We continue to focus on new product development, localization in high growth regions and expansion of our aftermarket service capabilities.聽 Simultaneously, we are driving a higher level of operating performance by standardizing our business processes, optimizing our global footprint and reducing total SG&A.聽 I am very passionate about aggressively moving forward on these initiatives, which I believe will drive significant value for all our stakeholders."

Emerson Fullwood, lead independent director on the 免费吃瓜 Board and Chairman of the Compensation Committee said, "On behalf of the Board of Directors, I want to thank聽Chris Kearney聽for his leadership, dedication and commitment to SPX Corporation and 免费吃瓜, Inc. over the last 18 years.聽 During his tenure, SPX Corporation was transformed into two strong, standalone public companies, a significant accomplishment.聽 The Board went through a comprehensive process to identify Chris' successor.聽 It was a process we took very seriously and we considered several qualified candidates with high intellect, impeccable integrity and strong leadership qualities."

Fullwood continued, "Marc Michael聽stood apart with an extraordinary ability to connect vision, people and ideas to drive strategy and execution.聽 I've had the opportunity to watch Marc grow as a leader over the last 12 years and strongly believe he is the best choice to succeed Chris as the next President and CEO.聽 The Board is highly confident in Marc's ability; we believe he is a strong leader for our employees, customers, shareholders and other key business partners.聽 He has our full support.聽 With Marc's charisma, energy and passion and Chris transitioning to the role of non-executive Chairman, the board is very confident that 免费吃瓜 has a strong leadership team in place to drive success moving forward."

免费吃瓜聽Marc Michael
Marc Michael, 52, has extensive experience running global businesses, expanding into emerging markets and managing large projects across the Americas, EMEA and Asia Pacific.聽 He has a long and proven track record of transforming businesses and improving operational execution.聽 Since 2013, he has served as President of 免费吃瓜's Food and Beverage business.聽 During this time, he has led a significant improvement in the execution of food and beverage system projects and strategically expanded the company's presence in the food and beverage aftermarket service and components markets.

Career Profile:

• President, 免费吃瓜 Food and Beverage:聽聽August 2013聽to present
• President, SPX Flow Technologies EMEA:聽聽July 2011聽to聽July 2013
• President, SPX Global Dry Cooling:聽聽January 2008聽to聽June 2011
• President, SPX Evaporative Cooling:聽聽July 2006聽to聽December 2007

Marc was appointed an officer of SPX Corporation in聽December 2014聽and was appointed an officer of 免费吃瓜, Inc. in聽September 2015聽subsequent to the spin-off of the company.

Prior to joining SPX Corporation in 2003, Marc held positions with General Electric and TDK Corporation. He earned a B.S. in accounting and finance from the聽University of North Alabama.

免费吃瓜 免费吃瓜, Inc.:
Based in聽Charlotte, North Carolina, 免费吃瓜 is a leading global supplier of highly engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services, into the food and beverage, power and energy and industrial end markets. 免费吃瓜 has approximately聽$2.5 billion聽in annual revenues and approximately 8,000 employees with operations in over 35 countries and sales in over 150 countries around the world. To learn more about 免费吃瓜, please visit our website at聽.听听听听听听听听听听听

Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby.聽聽 The words "believe," "expect," "intends", "anticipate," "plan" and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on the company's current complement of businesses, which is subject to change. Please read this press release in conjunction with the company's documents filed with the Securities and Exchange Commission. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these statements. Statements in this press release speak only as of the date of this press release, and 免费吃瓜 disclaims any responsibility to update or revise such statements.

Investor and Media Contact:
Ryan Taylor, Vice President, Communications, Market Insights and Financial Planning聽
Phone:聽 704-752-4486
贰-尘补颈濒:听investor@免费吃瓜.com

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