Waters Names Christopher O'Connell As CEO, Succeeding Berthiaume

(RTTNews) - Analytical instruments maker Waters Corp. (WAT) said Thursday it has appointed Christopher O'Connell as its new president, chief executive officer and member of the board of directors. The appointment of O'Connell, who joins Waters from medical device maker Medtronic plc (MDT), is effective September 2015.

O'Connell succeeds Douglas Berthiaume as Waters' CEO. Berthiaume is retiring from the position, but will continue in his role as chairman of Waters' board of directors. Waters noted that all other leadership positions within the company will remain in place.

Thomas Salice, Lead Director for Waters Corp. said, "Chris O'Connell's wide range of experiences across all aspects of a technology focused global organization prepares him well for the Waters CEO position. Through the process of getting to know him, we found a leader who reflects Waters' core values in addition to being an extremely motivated, thoughtful and engaging person."

O'Connell served for 21 years at Medtronic in a variety of leadership positions. Most recently, he was president of the Restorative Therapies Group, responsible for $7 billion in revenue and more than 16,000 employees worldwide.

O'Connell provided overall strategic direction and operational management of Medtronic's five divisions, as well as led the integration of the group's activities within the overall strategy of the corporation.

WAT is trading at $130.29, down $3.93 or 2.93 percent on a volume of 252,381 shares.