Kenneth Bockhorst Appointed Chief Operating Officer of Badger Meter
September 08 2017 - 8:30AM
Business Wire
Brings 20+ years of operations management
expertise to growing water meter manufacturer
Badger Meter, Inc. (NYSE: BMI) today announced that it has
appointed Kenneth C. Bockhorst, 44, to the newly created position
of senior vice president and chief operating officer. Bockhorst
brings more than 20 years of experience in global operations
management to Badger Meter, the only major independent water meter
manufacturer in the United States. Bockhorst, who most recently
served as executive vice president of the energy segment of Actuant
Corporation (NYSE: ATU), will assume his role at Badger Meter on or
before November 1, 2017.
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Kenneth C. Bockhorst (Photo: Business
Wire)
“Ken brings a wealth of valuable knowledge in global
manufacturing and continuous improvement to his new role at Badger
Meter, as well as extensive experience in delivering high-quality
products and services in a competitive global environment,” said
Richard A. Meeusen, chairman, president and chief executive officer
of Badger Meter. “One of our ongoing priorities is to develop the
next generation of Badger Meter leaders. As a key member of the
senior management team, Ken will play a vital role in developing
strategies for our continued growth and innovation, both
domestically and internationally.”
As chief operating officer, Bockhorst will oversee the company’s
municipal water and flow instrumentation manufacturing,
engineering, sales and marketing and acquisition activities. He
will also assume responsibility for the company’s continuous
improvement initiatives and new product development.
Bockhorst spent the last six years at Actuant Corporation, a
$1.1 billion diversified industrial company with operations in more
than 30 countries. As executive vice president of the
company’s $330 million energy segment, he oversaw 1,500 employees
globally and managed the segment’s three business units. His
previous roles included president of the Hydratight business unit
and global vice president of operations for Enerpac.
During his tenure at Actuant, Bockhorst established a
demonstrated track record of building strong customer relationships
and motivated business teams, driving sales growth, executing
robust operational excellence initiatives and improving
profitability. He also developed and executed strategic plans that
included major portfolio enhancements with both acquisition and
divestiture activities. Prior to Actuant, he held product
management and operational leadership roles at IDEX Corporation
(from 2007-2011) and Eaton Corporation (from 1991-2007). Bockhorst
earned a bachelor’s degree in operations management, marketing and
human resources from Marian University and an Executive MBA from
the University of Wisconsin-Madison.
“I’m thrilled to join such a capable senior leadership team at
Badger Meter, a company I’ve long admired for its commitment to
high-quality products, innovative technology, and helping customers
improve their water usage and overall sustainability efforts,” said
Bockhorst. “The Board and senior leadership team are a dynamic
group that is committed to thoughtful, strategic growth, and I’m
looking forward to being a part of this exciting time at Badger
Meter.”
In fiscal 2016, Badger Meter achieved record sales, earnings and
earnings per share, in addition to marking its 24th consecutive
year of increased dividend payments. Over the past five years, the
company has delivered an annualized total return to shareholders of
21.8 percent.
About Badger Meter
Badger Meter is an innovator in flow measurement, control and
communications solutions, serving water utilities, municipalities,
and commercial and industrial customers worldwide. The Company’s
products measure water, oil, chemicals, and other fluids, and are
known for accuracy, long-lasting durability and for providing
valuable and timely measurement data. For more information, visit
www.badgermeter.com.
Certain statements contained in this news release, as well as
other information provided from time to time by Badger Meter, Inc.
(the “Company”) or its employees, may contain forward looking
statements that involve risks and uncertainties that could cause
actual results to differ materially from those in the forward
looking statements. The words “anticipate,” “believe,” “estimate,”
“expect,” “think,” “should,” “could” and “objective” or similar
expressions are intended to identify forward looking statements.
All such forward looking statements are based on the Company’s then
current views and assumptions and involve risks and uncertainties.
Some risks and uncertainties that could cause actual results to
differ materially from those expressed or implied in forward
looking statements include those described in Item 1A of the
Company’s Annual Report on Form 10-K for the year ended December
31, 2016 that include, among other things:
- the continued shift in the Company’s
business from lower cost, manually read meters toward more
expensive, value-added automatic meter reading (AMR) systems,
advanced metering infrastructure (AMI) systems and advanced
metering analytics (AMA) systems that offer more comprehensive
solutions to customers’ metering needs;
- the success or failure of newer Company
products;
- changes in competitive pricing and bids
in both the domestic and foreign marketplaces, and particularly in
continued intense price competition on government bid contracts for
lower cost, manually read meters;
- the actions (or lack thereof) of the
Company’s competitors;
- changes in the Company’s relationships
with its alliance partners, primarily its alliance partners that
provide radio solutions, and particularly those that sell products
that do or may compete with the Company’s products;
- changes in the general health of the
United States and foreign economies, including to some extent such
things as the length and severity of global economic downturns,
international or civil conflicts that affect international trade,
the ability of municipal water utility customers to authorize and
finance purchases of the Company’s products, the Company’s ability
to obtain financing, housing starts in the United States, and
overall industrial activity;
- unusual weather, weather patterns or
other natural phenomena, including related economic and other
ancillary effects of any such events;
- economic policy changes, including but
not limited to, trade policy and corporate taxation;
- the timing and impact of government
funding programs that stimulate national and global economies, as
well as the impact of government budget cuts or partial shutdowns
of governmental operations;
- changes in the cost and/or availability
of needed raw materials and parts, such as volatility in the cost
of brass castings as a result of fluctuations in commodity prices,
particularly for copper and scrap metal at the supplier level,
foreign-sourced electronic components as a result of currency
exchange fluctuations and/or lead times, and plastic resin as a
result of changes in petroleum and natural gas prices;
- the Company’s expanded role as a prime
contractor for providing complete technology systems to
governmental entities, which brings with it added risks, including
but not limited to, the Company’s responsibility for subcontractor
performance, additional costs and expenses if the Company and its
subcontractors fail to meet the timetable agreed to with the
governmental entity, and the Company’s expanded warranty and
performance obligations;
- the Company’s ability to successfully
integrate acquired businesses or products;
- changes in foreign economic conditions,
particularly currency fluctuations in the United States dollar, the
Euro and the Mexican peso;
- the inability to develop
technologically advanced products;
- the failure of the Company’s products
to operate as intended;
- the inability to protect the Company’s
proprietary rights to its products;
- disruptions and other damages to
information technology and other networks and operations due to
breaches in data security or any other cybersecurity attack;
- transportation delays or
interruptions;
- violations or alleged violations of the
U.S. Foreign Corrupt Practices Act (FCPA) or other anti-corruption
laws and the Foreign Account Tax Compliance provisions of the
Hiring Incentives to Restore Employment Act (referred to as
FATCA);
- the loss of certain single-source
suppliers; and
- changes in laws and regulations,
particularly laws dealing with the content or handling of materials
used in the Company's products.
All of these factors are beyond the Company's control to varying
degrees. Shareholders, potential investors and other readers are
urged to consider these factors carefully in evaluating the forward
looking statements contained in this news release and are cautioned
not to place undue reliance on such forward looking statements. The
forward looking statements made in this document are made only as
of the date of this document and the Company assumes no obligation,
and disclaims any obligation, to update any such forward looking
statements to reflect subsequent events or circumstances.
Badger Meter company news is available 24 hours
a day, online at: http://www.badgermeter.com.
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Badger Meter, Inc.Dawn O’Neill, (414) 371-7276
Badger Meter (NYSE:BMI)
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