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  • Thursday, April 18, 2024

ITT Selects Board Members for Exelis, Xylem Spinoffs

ITT Corporation (NYSE: ITT) has announced the members of the board of directors for ITT Exelis (NYSE: XLS) and Xylem Inc. (NYSE: XYL), which are planned to spin off from ITT on Oct. 31.

Ralph Hake, former chairman and CEO of Maytag, will become chairman of the Exelis board. Hake has been an ITT director since 2002. Steve Loranger, the chairman, president and CEO of ITT, will also join the Exelis board.

Other Exelis board members include Herman Bulls, Christina Gold, John Hamre, Paul Kern, David Melcher, Patrick Moore, Mark Reuss, Billie Williamson and R. David Yost.

The directors of Xylem will be Curtis Crawford, John Hamre, Victoria Harker, Sten Jakobsson, Loranger, Edward Ludwig, Gretchen McClain, Surya Mohapatra and Markos Tambakeras.

“We are thrilled to have such strong and talented boards of directors to oversee ITT, Xylem and ITT Exelis, ” Loranger said. “We are confident that under their leadership all three companies will be well-positioned to drive growth and deliver significant value to all of our shareholders.”

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