ITT Corp (NYSE: ITT) has provided the U.S. Securities and Exchange Commission with details of the three publicly-traded companies it plans to separate into.
The company filed Form 10 registration statements for its water-related businesses and information and solutions segment. ITT plans to list the two new companies on the New York Stock Exchange.
ITT will continue its core industrial business operations under the name ITT Corp. It will provide engineered solutions in the aerospace, transportation, energy and industrial markets.
Executive moves include:
- Denise Ramos, current CFO, will serve as ITT Corp CEO
- Gretchen McClain, current president of ITT’s fluid and motion control business, will be chief executive of the new water company
- David Melcher, current president of ITT’s defense and information solutions segment, will serve as chief executive of the new defense company
ITT said it should complete the separation by the end of 2011. The separation does not require sharehold approval. The move will include tax-free spinoffs to its water-related and defense business shareholders.
