Flowserve announces leadership changes in pumps division and accounting office

Flowserve Corporation (NYSE:FLS) announced on Thursday that Lamar Duhon has resigned as President of its Flowserve Pumps Division. According to a press release statement, Duhon will remain in his current position until April 10, 2026, before leaving to become President and Chief Executive Officer of a privately held company.The leadership transition comes as the $9.75 billion industrial equipment manufacturer trades near its highs, with shares up 51% over the past year. The company has maintained dividend payments for 20 consecutive years, according to InvestingPro analysis, which currently shows the stock trading above its Fair Value on the Most Overvalued list.

The company also stated that Matthew Klopfer has been appointed as the new President of the Flowserve Pumps Division, effective April 11, 2026. Klopfer is currently Flowserve’s Vice President of Strategic Business Management for the division. He previously served as Vice President and General Manager of the company’s Industrial Pumps Business Unit from August 2023 to February 2026, and has held various operational and financial leadership roles at Flowserve.

In addition, Flowserve announced that Scott Vopni, the company’s Chief Accounting Officer, has provided notice of his intention to retire as of June 30, 2026. The company has initiated a search for a permanent replacement. If a new Chief Accounting Officer is not appointed by Vopni’s departure, Amy Schwetz, Flowserve’s Chief Financial Officer, will serve as interim Chief Accounting Officer until a permanent successor is named.

These changes were disclosed in a filing with the Securities and Exchange Commission. Flowserve’s common stock is listed on the New York Stock Exchange under the ticker symbol FLS.

In other recent news, Flowserve Corporation has announced a 5% increase in its quarterly dividend, now set at $0.22 per share. This decision reflects the company’s commitment to returning value to its shareholders. Additionally, Flowserve welcomed Brian Savoy, Duke Energy’s Chief Financial Officer, to its Board of Directors, where he will also serve on the Audit Committee and the Technology, Innovation, and Risk Committee. On the analyst front, Flowserve received a price target increase from Goldman Sachs to $88, maintaining a Neutral rating. This adjustment came after Flowserve’s fourth-quarter 2025 segment EBIT results surpassed expectations. Meanwhile, RBC Capital raised its price target for Flowserve to $96, citing a strong outlook and the company’s new 2030 targets, which suggest significant margin improvements. In another development, NOV Inc. appointed Sanjay Chowbey, CEO of Kennametal Inc., to its board of directors. These updates reflect recent strategic and financial developments for both Flowserve and NOV.

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