FLOWSERVE CORPORATION (NYSE:FLS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.

On February24, 2017, Flowserve Corporation (the Company)
announced thatKaryn F. Ovelmen, Executive Vice President and
Chief Financial Officer of the Company, will be leaving the
Company effective February23, 2017. Ms.Ovelmens departure is not
the result of any disagreement with the Company regarding its
operations or accounting policies or practices. The Company
appointed John E. (Jay) Roueche,III, the Companys Vice President,
Treasurer and Investor Relations, as interim Chief Financial
Officer.

In connection with Ms.Ovelmens departure, the Company and
Ms.Ovelmen entered into a separation agreement on February26,
2017. Under the terms of the separation agreement, in
consideration of her ongoing cooperation and assistance in an
orderly transition of the duties of the financial officer role
and her release of claims against the Company, Ms.Ovelmen is
entitled to receive severance benefits under the Companys officer
severance plan for a termination without cause plus a cash
payment equivalent to the value of 7,500 shares of the Companys
common stock at the closing stock price per share at February24,
2017. Payment of the benefits in the separation agreement is
subject to the customary and required seven-day revocation
period.

Mr.Roueche has served as Vice President, Treasurer and Investor
Relations of the Company since October2012. Previously,
Mr.Roueche was employed as Vice President, Treasurer and Investor
Relations of McDermott International,Inc., a leading provider of
integrated engineering, procurement, construction and
installation services from August2010 until October2012. From
April2006 to August2010, he served as Vice President,Investor
Relations and Corporate Communications of McDermott
International,Inc. In the preceding years, he served in
progressive accounting and finance roles, including with
Pennzoil-Quaker State Company, Pennzoil Company and Shell Oil
Company.

Mr.Roueche, 49, has no family relationships with any director or
executive officer of the Company, and there are no arrangements
or understandings with any person to which he will be selected as
the interim Chief Financial Officer of the Company. In addition,
there have been no transactions directly or indirectly involving
Mr.Roueche that would be required to be disclosed to Item404(a)of
Regulation S-K under the Securities Exchange Act of 1934.

A copy of the press release issued by the Company announcing
Mr.Roueches selection is attached as Exhibit99.1 to this Current
Report on Form8-K and is incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

About FLOWSERVE CORPORATION (NYSE:FLS)

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment. Its IPD designs, manufactures, distributes and services pre-configured engineered pumps and pump systems, including submersible motors, for industrial markets. Its FCD designs, manufactures, distributes and services a portfolio of industrial valve and automation solutions, including isolation and control valves, actuation, controls and related equipment. Its product portfolio of pumps, valves, seals, automation and aftermarket services support infrastructure industries, including oil and gas, chemical, power generation and water management.

FLOWSERVE CORPORATION (NYSE:FLS) Recent Trading Information

FLOWSERVE CORPORATION (NYSE:FLS) closed its last trading session up +0.22 at 47.94 with 2,410,724 shares trading hands.