Key Takeaways

  • Water treatment company Pentair announced in a press release and securities filing on Tuesday that its former Chief Financial Officer, Bob Fishman, is returning in an interim capacity, succeeding Nicholas Brazis, who resigned abruptly after only five months on the job.
  • Brazis succeeded Fishman as CFO in March of this year but left on July 10 to become CFO at Southwire, a cable and wire manufacturer. Fishman assumed his duties effective immediately on Tuesday, while the company searches for a permanent successor.
  • "During Bob's six-year tenure at Pentair, he helped us strengthen our financial foundation and enhance operational discipline," said John Stauch, Pentair's CEO and President, in the press release. "Given his deep financial expertise, clear understanding of our business, and strong relationships with both Pentair and the financial community, I am confident he can seamlessly return and help us advance our key strategic and financial priorities to create long-term value."

Deeper Dive

Fishman, 63, previously served as Pentair's CFO for six years until Brazis was named as his successor, according to a CFO transition filing submitted to the U.S. Securities and Exchange Commission (SEC) in October 2025.

Before joining the London-based company in 2020, Fishman held several key financial positions at NCR Corporation, including CFO and Corporate Controller.

According to the SEC filing, Fishman will receive compensation of $125,000 per month during his interim tenure and will be granted restricted stock units valued at $1 million, which will vest one year after the grant date, "regardless of whether Mr. Fishman is still employed by the company at that time." Additionally, severance payments Fishman is entitled to from his prior resignation will be suspended during his interim service.

On Wednesday, Pentair's stock fell from around $75 per share to $65, impacted by the CFO change news and the company's preliminary results released on Tuesday.

In Tuesday's announcement, Pentair also separately disclosed preliminary results for the second quarter of 2026 and updated its full-year 2026 guidance. The company expects second-quarter net income from continuing operations of approximately $130 million, compared with first-quarter net income of $160.8 million.

Sales are expected to be approximately $930 million, down 17% from prior guidance—a decline the company attributes primarily to the adverse impact of continued inventory destocking in its pool business segment.

For the full year, Pentair expects sales to decline 4% to 7%, mainly due to weak performance in the pool business.

The company also expects to receive approximately $35 million in tariff refunds under the International Emergency Economic Powers Act in the second quarter, with full-year refunds of this type expected to range between $35 million and $50 million.

Pentair expects to report full second-quarter results on July 28.

This article has been updated to reflect the second-quarter sales expectation of $930 million.