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  • Thursday, April 25, 2024

Transition Planning Underway for ITT Spinoffs

Dave Melcher

ITT’s (NYSE: ITT) communications team has entered the planning phase for the corporation’s planned spinoff of its defense and water technology businesses, according to a report in PRWeek.

The defense firm, which has yet to be named, will be led by Dave Melcher.

Angela Buonocore, ITT’s communications lead, told PRWeek the current structure will remain until later this year.

“We have to evaluate what the budgets are going to be and what the structures are going to be, ” she said. “It’s just too premature. Right now, we just have to work through the transition.”

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