Itron Names W. Mark Schmitz Chief Financial Officer

LIBERTY LAKE, Wash. — Sept. 8, 2014 — Itron, Inc. (NASDAQ: ITRI) announced today that W. Mark Schmitz has been appointed executive vice president (EVP) and chief financial officer (CFO), effective immediately.

Schmitz joins Itron with 40 years of experience in finance and executive leadership roles across the manufacturing, service, retail and technology industries. He most recently served as the CFO of Alghanim Industries, a global, multi-industry corporation headquartered in Kuwait. During his tenure at Alghanim, he initiated new growth strategies for the company and built a world-class team with a culture of business engagement to help drive company performance.He previously served as CFO at several other global corporations, including The Goodyear Tire and Rubber Co., Tyco International Limited's Worldwide Fire and Security Segment and Plug Power Inc. In addition, he held a number of financial leadership roles at General Motors over 25 years.

"Mark is an accomplished executive with a proven track record of success, including leading the finance organizations at several large, global manufacturers," said Philip Mezey, Itron president and chief executive officer. "His experience developing and executing business and financial strategies will be valuable to Itron as we position our company for accelerated profitable growth with a greater focus on a full range of technology and services, creating even more value for our customers and shareholders.We are confident that Mark will help drive our business to the next level."

"Itron has several important strategic initiatives underway and I am excited to join the company and help oversee the successful implementation of these efforts," said Schmitz."I look forward to working closely with Philip and the talented Itron team to contribute to the company's growth and success."

Schmitz succeeds Steven Helmbrecht as Itron's CFO. Helmbrecht joined the company in 2002 and was named CFO in 2005.On April 24, 2014, Itron announced Helmbrecht's departure from the company. He will remain with Itron through December 31, 2014 to facilitate a smooth transition.

Mezey added, "On behalf of Itron's Board of Directors and management team, I want to thank Steve for his leadership and contributions to Itron and the finance organization during his tenure."