Xylem CFO Michael Speetzen Quits

(RTTNews) - Xylem Inc. (XYL) said Monday that its Senior Vice President and Chief Financial Officer, Michael Speetzen, has resigned to accept another chief financial officer position, effective July 30.

Speetzen will continue to serve as Xylem's Chief Financial Officer through the company's second quarter earnings announcement and 10-Q filing on July 30.

Shashank Patel, a 19-year veteran of the company and its former parent, will serve as interim Chief Financial Officer while the company conducts a search for a permanent successor. Patel currently serves as CFO and Vice President, Finance for Xylem's Applied Water Systems division.

Xylem also said that it expects to report revenue of $920 million, and earnings per share of $0.41 and adjusted earnings per share of $0.43 for the second quarter.

Analysts polled by Thomson Reuters currently expect the company to earn $0.43 per share on revenue of $924.82 million for the second quarter. Analysts' estimates typically exclude special items.