Flowserve Corporation Announces Voting Results from 2025 Annual Shareholders Meeting and Declares Quarterly Dividend
Flowserve Corp. (NYSE: FLS), a globally recognized leader in the design and manufacture of flow control products and services, catering to the infrastructure markets worldwide, has officially disclosed the results from its 2025 Annual Meeting of Shareholders. Alongside the voting outcomes, the company also announced the declaration of its quarterly cash dividend. This update marks a significant milestone as Flowserve continues to advance its strategic initiatives and maintain a strong commitment to delivering value to its shareholders.
Overview of the 2025 Annual Meeting of Shareholders
Flowserve’s 2025 Annual Meeting was conducted virtually, enabling shareholders from across the globe to participate conveniently and securely. The meeting’s primary focus was to elect members to the company’s Board of Directors, approve executive compensation plans, ratify the appointment of the independent auditor, and consider shareholder proposals affecting corporate governance.
Board of Directors Election Results
During the meeting, shareholders re-elected nine incumbent directors to the Flowserve Board, each to serve a one-year term until the 2026 Annual Meeting. The re-elected directors include:
- Sujeet Chand
- Ruby R. Chandy
- Gayla J. Delly
- John L. Garrison
- Cheryl H. Johnson
- Michael C. McMurray
- Thomas B. Okray
- R. Scott Rowe
- Kenneth I. Siegel
Their continued leadership is expected to provide stability and strategic insight as Flowserve pushes forward on its ambitious growth and operational targets.
Leadership Transition on the Board
A notable change on the Board involved the departure of David E. Roberts, who opted not to stand for re-election after an impactful 13-year tenure with Flowserve. Mr. Roberts’ contributions, particularly as Independent Chairman, were acknowledged by company leadership as foundational to Flowserve’s governance and strategic direction over more than a decade.
Following his departure, John L. Garrison, a seasoned director with seven years on the Board, was elected as the new Independent Chairman. His appointment marks the beginning of a new chapter in Flowserve’s leadership and governance. Mr. Garrison’s deep industry knowledge and prior service on the Board position him well to guide Flowserve’s oversight functions and shareholder interests.
Introduction of a New Director
In addition to re-elections, shareholders voted to elect Ross B. Shuster as a new member of the Board. Mr. Shuster currently serves as the Chief Executive Officer of Copeland, a prominent company specializing in climate technologies. His extensive executive experience includes prior leadership roles as CEO of Howden and senior positions with United Technologies Corporation, where he was responsible for multiple regional business operations.
Mr. Shuster’s appointment is anticipated to bring valuable perspectives on international operations, manufacturing excellence, and innovative technology — key areas aligned with Flowserve’s strategic vision. Scott Rowe, Flowserve’s President and CEO, welcomed Mr. Shuster’s addition, emphasizing the importance of fresh expertise in steering the company toward its 2027 financial goals.
Shareholder Voting Outcomes on Other Proposals
The meeting also featured several other critical votes:
- Advisory Vote on Executive Compensation: Flowserve’s shareholders overwhelmingly approved the company’s executive pay program, with approximately 98.3% voting in favor. This strong endorsement reflects shareholder confidence in the compensation structure aligning with company performance and shareholder value creation.
- Appointment of Independent Auditor: Shareholders ratified the appointment of PricewaterhouseCoopers LLP as Flowserve’s independent registered public accounting firm for the 2025 fiscal year. PwC’s continued engagement underscores Flowserve’s commitment to transparent and rigorous financial reporting.
- Shareholder Proposal on Special Meetings: A proposal requesting the elimination of the one-year holding period requirement for shareholders to call a special meeting was rejected, with nearly 90% voting against it. This result indicates shareholder preference for maintaining existing governance safeguards regarding special meeting calls.
Complete and certified voting results will be published in a Current Report on Form 8-K, filed with the Securities and Exchange Commission (SEC). Additionally, comprehensive biographies of all Board members are available in Flowserve’s 2025 Proxy Statement and on the company’s official website, www.flowserve.com.
Quarterly Dividend Declaration
Flowserve’s Board of Directors also approved a quarterly cash dividend of $0.21 per share on the company’s outstanding common stock. This dividend payment reflects the company’s ongoing commitment to returning capital to shareholders while balancing reinvestment in growth initiatives.
The dividend will be payable on July 11, 2025, to shareholders who hold shares at the close of business on June 27, 2025. Flowserve management noted that while regular quarterly dividends are expected to continue, the Board will review dividend payments each quarter and declare them at its discretion, considering prevailing market conditions and company performance.
About Flowserve Corporation
Flowserve Corp. stands as a global leader in fluid motion and control solutions. With operations spanning over 50 countries, the company manufactures a broad range of products, including engineered and industrial pumps, mechanical seals, valves, and various flow management services tailored to multiple industries. These industries include oil and gas, chemical processing, power generation, water resources, and more.
Flowserve’s products and services play a critical role in infrastructure development and maintenance worldwide, helping customers improve process efficiency, reliability, and sustainability. For more information about Flowserve’s offerings, investor relations, and latest updates, please visit www.flowserve.com.
Forward-Looking Statements and Risk Factors
This news release contains forward-looking statements within the meaning of U.S. securities laws, including the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended. These statements involve projections and expectations about Flowserve’s future financial performance, business strategies, and market conditions, often identified by words such as “may,” “could,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” and similar expressions.
While these forward-looking statements reflect management’s current expectations, they are inherently subject to significant risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Some of the key risk factors that could impact Flowserve’s operations and results include:
- Global Supply Chain Disruptions: Ongoing supply chain challenges and inflationary pressures may increase manufacturing costs and affect delivery timelines.
- Conversion of Bookings to Revenue: Not all orders or bookings convert into completed sales, impacting revenue and profit margins.
- Economic and Market Conditions: Variability in global economic growth, customer capital spending, and order cancellations or delays can affect backlog and future revenues.
- Industry Dependence: The company’s reliance on energy, chemical, power generation, and industrial markets exposes it to cyclical and sector-specific risks.
- Raw Material Price Volatility: Fluctuations in raw material costs may compress operating margins.
- International Operations Risks: Political instability, trade embargoes, tariffs, pandemics, and compliance with export laws in various regions add complexity to Flowserve’s global footprint.
- Health Emergencies: Public health crises, such as pandemics, could disrupt operations and supply chains.
- Financial Risks: Exposure to foreign currency fluctuations, tax law changes, litigation (including asbestos-related claims), and integration challenges from acquisitions.
- Competitive and Technological Factors: Maintaining market position requires ongoing innovation, including adoption of new technologies like artificial intelligence and machine learning.
- Labor and Compliance Issues: Potential labor disputes, environmental regulations, intellectual property protection, and internal control challenges may impact operations.
- Cybersecurity: Risks related to cyberattacks and information system disruptions remain a critical concern.
This list is not exhaustive. Detailed descriptions of risks and uncertainties are included in Flowserve’s filings with the SEC, and investors are urged to review these documents carefully.
Commitment to Transparency and Shareholder Engagement
Flowserve remains dedicated to transparent communication with its investors and stakeholders. The company continually updates shareholders on strategic progress, governance matters, and financial performance through SEC filings, press releases, and its corporate website. The outcomes of the 2025 Annual Meeting and dividend declaration demonstrate Flowserve’s commitment to sound corporate governance and shareholder value.
