MILWAUKEE--(BUSINESS WIRE)--
Badger Meter, Inc. (NYSE:BMI) today announced that Richard A. Meeusen
will retire as Chief Executive Officer (CEO) of the company, effective
December 31, 2018. He will remain Chairman of the Board through 2019.
Kenneth C. Bockhorst, currently President, was appointed to the Board
effective immediately and will become CEO effective January 1, 2019.
"After nearly a year of working alongside Ken, I am confident this is an
appropriate time to transition the chief executive responsibilities,
said Meeusen. “Ken has embraced the Badger Meter culture, advanced new
growth paths and instituted a continuous improvement philosophy
throughout the organization during his tenure as President and Chief
Operating Officer. He brings excellent strategic, operational and talent
development skills to the role and is passionate about delivering
outstanding returns to our stakeholders. Under his leadership, I am
convinced Badger will continue to thrive.” Meeusen continued, “It has
been a privilege and a highlight of my professional career to work
alongside the dedicated and talented team at Badger Meter. I am grateful
to have had the opportunity to serve as CEO for the last 16 years, and
look forward to continuing to contribute to Badger’s success as a member
of the Board.”
"Rich has made innumerable contributions to the success of Badger Meter
during his 23-year tenure at the company, both as CEO and before that,
as Chief Financial Officer. He spearheaded the strategic direction of
the company and successfully created its innovative and integrity-led
culture. His unyielding focus on delivering shareholder value is
remarkable, with more than a 20% average annual shareholder return under
his leadership," said Todd Teske, Lead Director of Badger Meter.
Bockhorst joined Badger Meter in October 2017 as COO and was named
President in April 2018. "The Board views this important leadership
transition as thoughtful, well planned and soundly executed," Teske
observed. "Ken is a proven leader with broad industry experience, global
perspective and demonstrated success in driving strategy and operational
excellence,” added Teske. “He has all the right attributes to succeed
Rich as CEO and I am confident it will be a seamless transition."
“I am honored to be given the opportunity to lead the tremendous team at
Badger Meter,” said Bockhorst. “As only the sixth CEO in the company’s
113-year history, I recognize the awesome responsibility of preserving
the legacy of trusted solutions, broad offerings and innovation earned
since Badger Meter’s founding in 1905. That solid foundation, coupled
with prudent strategies and a strong financial position, provide us the
opportunity to continue to grow both organically, and when strategically
appropriate, through acquisition. It has been a pleasure to work
alongside Rich over the past year and I want to thank him for his
exceptional leadership.”
Background Information
Meeusen joined Badger Meter in 1995 as vice president-finance and chief
financial officer. He was elected president and chief executive officer
in 2002 and chairman in 2004. Prior to joining Badger Meter, Meeusen
served as vice president of finance and treasurer of Zenith Sintered
Products, Inc., and in the audit division of the Milwaukee office of
Arthur Andersen & Co. He received a BBA degree in accounting from the
University of Wisconsin-Whitewater and an MBA degree from the Kellogg
Graduate School of Management at Northwestern University. He is a
Certified Public Accountant (CPA). In addition to his responsibilities
at Badger Meter, Meeusen currently serves as a director of Menasha
Corporation and Serigraph, Inc., a specialty printing company. He
participates in numerous not-for-profit activities including serving on
the boards of Goodwill Industries of Southeastern Wisconsin, Inc., the
Greater Milwaukee Committee, the Metropolitan Milwaukee Association of
Commerce, the Wisconsin Policy Forum, Milwaukee Water Council
(co-founder and co-chair), the Great Lakes Protection Fund and United
Way of Greater Milwaukee & Waukesha County.
Bockhorst joined Badger Meter in October 2017. He spent the previous six
years at Actuant Corporation, most recently as executive vice president
of the $330 million energy segment. He also served as president of the
Hydratight business unit and global vice president of operations for
Enerpac. 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.
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.
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Badger Meter, Inc.
Karen Bauer, (414) 371-7276
kbauer@badgermeter.com
Source: Badger Meter, Inc.