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ITT Appoints CFO, GC for Defense Business Ahead of Spinoff

ITT (NYSE: ITT) has announced that once the firm spins off  its defense business, Peter Milligan is expected to serve as CFO, while Ann Davidson will take on the role of general counsel and corporate secretary.

ITT will spin off its defense and water services businesses into serparate companies by the end of 2011.

“We couldn’t be more pleased to identify these outstanding leaders from our current executive team for key leadership roles in the new company, ” ITT CEO Steve Loranger said. “Our ability to make these decisions early in the separation planning process is truly a testament to the strength of our existing management bench and legacy of leadership development at ITT, and we are pleased to mark this milestone in the process of establishing three attractive new companies by the end of the year.”

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