NIBCO Announces New Executive Structure

NIBCO Announces New Executive Structure

ELKHART, Ind. -- (November 28, 2006) - NIBCO's Chairman and Chief Executive Officer Rex Martin announced today that the NIBCO Board of Directors has elected Steven Malm as its new president and chief operating officer effective immediately. Malm acquires the day-to-day responsibilities of running the business which had been formerly overseen by Rex Martin who was named NIBCO's president in 1986.

"Steve's industry experience, talent and business acumen has prepared him well for this assignment," said Martin. "He has made substantial contributions to the company's financial success over the past 10 years and I'm excited at the prospect of him leading this company to new levels of financial growth in the future."

Malm has become the second non-family member to be named president in NIBCO's 102-year-history. He holds a master's degree in business administration from Florida Atlantic University, and a master's degree in international management from the American Graduate School of International Management. Malm joined NIBCO in 1996.

Reporting to Martin are Steve Malm; Tom Eisele, who was recently promoted to senior vice president and chief legal counsel; and Alice A. Martin, vice chairman and chief people officer. Alice A. Martin, who was promoted by NIBCO's Board in 2005, has been integral in executing human resources strategies that attract and motivate experienced associates to drive a high performance organization. Ms. Martin has a master's degree from the University of Illinois, and is a graduate of the University of Michigan's Advanced Human Resource Executive Program.

Rex Martin announced that the Board has made other changes to NIBCO's executive management team. Reporting to Steven Malm are Jerry Whiteford, who was promoted to senior vice president and chief financial officer; and Gary Wilson, who was promoted to senior vice president and chief technology officer.

Founded in Elkhart in 1904, NIBCO INC. is a worldwide provider of flow control solutions to customers in the residential and commercial construction, industrial and irrigation markets. NIBCO operates 13 manufacturing plants throughout the United States, Mexico and Poland.

Media Contact: Sally Boyer, Manager-Strategic Communications 574.295.3381 or

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