MILFORD, Mass.--(BUSINESS WIRE)--May 3, 2001--Waters Corporation (NYSE:WAT) announced today that its current Chief Financial Officer, Philip Taymor, has decided to reduce his time commitment and will change his role at the Company, effective May 31, 2001. He will continue at the Company in a part-time position from that point forward. John Ornell, currently Waters' Vice President of Operations, has been selected to replace Mr. Taymor as the Company's Chief Financial Officer on that date. Mr. Ornell has been employed at Waters in a variety of financial and operating roles since 1990 and, for the past one and one-half years, has been Vice President of Operations.
Mr. Taymor said: "This was a very difficult personal decision to which I have given a lot of thought. In the end, I have decided to reduce my role at Waters in order to spend more time with my family. I not only look forward to being able to do this, but I am also particularly pleased to have the opportunity to continue my involvement with the Company on a part-time basis. I feel fortunate to be able to turn over the reigns of Chief Financial Officer to someone as competent and qualified as John Ornell, with whom I have worked closely for some time."
Douglas A. Berthiaume, Chairman and Chief Executive Officer, added: "I thank Phil for his many contributions to Waters' success over the years and, even though I'm saddened by his decision to relinquish the CFO role, I'm very glad that he will continue in a part-time capacity with the Company. I am also extremely pleased to appoint John as our new CFO. John brings a wealth of relevant experience and skills, and in-depth knowledge of the Company, and we already enjoy a close working relationship on the Waters Executive Committee."
Waters Corporation holds worldwide leading positions in three complementary analytical technologies - high performance liquid chromatography, thermal analysis and mass spectrometry - which account for $4 billion in annual revenues of the $18 billion analytical instrument industry total.
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