Ownership, Accountability and Transparency

At Pentair, we believe effective governance is the foundation for success. That's why we place demonstrable importance on governance, and meet or exceed current corporate governance requirements. To achieve these high standards in the complex global environment in which we operate, we have a highly transparent organization, an actively engaged Board of Directors, and effective controls and practices in place.

Transparency in our Organization

The foundation of Pentair's governance practices is our Code of Conduct and Ethics, which is affirmed annually by employees in the United States and by our Board of Directors. Guided by the values embodied in the Code, Pentair employees help shape our current practices and improvements: their input is gathered formally - through the Pentair Pulse, our global semi-annual all-employee survey, as well as through our organizational structure, which enables business and functional teams to integrate effectively.

Transparency within Pentair is also enabled by our accessible business leadership team, and fostered by our pragmatic, open style of communication and candor. Pentair Chief Executive Officer Randy Hogan, Chief Operating Officer Mike Schrock, and Chief Financial Officer John Stauch along with functional and global business unit leaders focus on setting direction for the company. Through Pentair's Integrated Management System (PIMS), that direction is translated to clear objectives and accountabilities for managers and staff, and regular quarterly webcasts and an annual leadership meeting create venues to assess progress and discuss our outlook. While standard tools are employed to create and document the plan, management teams have flexibility to review, assess and develop countermeasures as needed to ensure progress against goals.

Transparency in our Communications

Transparency in our communication processes encompasses a broad array of practices, including: an active online archive of company press releases, quarterly and annual earning reports, webcasts, presentations, annual reports, performance data and leadership profiles. The anonymous hotline is available to address concerns about company policy. Issues raised through the hotline are reviewed confidentially by the Board of Directors.