WHITE PLAINS, N.Y., March 11 /PRNewswire/ -- ITT Industries (NYSE: IIN)
announced today that it had named Richard J. Townsend as its new Controller
and Robert J. Eason as General Auditor. Both Townsend and Eason were also
approved as Corporate Vice Presidents at today's meeting of the company's
Board of Directors.
Townsend joins ITT Industries from IBM Corporation where he was Vice
President of Finance and Planning for Global Industries. He has spent the
last seventeen years with IBM in significant financial management positions
both in the United States and Europe. He holds a Bachelors Degree in
Mechanical Engineering from the University of Michigan and a Masters Degree in
Mechanical Engineering from the University of California at Berkeley. He also
has an MBA from Stanford University.
Eason joins ITT Industries from NCR where he was Director of Auditing and
Mergers & Acquisitions. Eason worked for AT&T for 15 years, prior to joining
NCR as part of its recent spin-off from AT&T. He has held various financial
leadership positions with AT&T in both international and domestic assignments.
Eason is a CPA and holds an MBA and a Bachelors Degree in Accounting from
"Both Rich and Bob are valuable additions to ITT Industries," said Heidi
Kunz, senior vice president and chief financial officer of ITT Industries, to
whom both will report. "Their accomplishments and experience will provide a
great benefit to the company."
ITT Industries is a leading worldwide diversified manufacturing company,
with 1996 sales of $8.4 billion from its three primary business segments:
Automotive, Defense & Electronics, and Fluid Technology. ITT Automotive is
one of the world's largest independent suppliers of systems and components
to automotive manufacturers. ITT Defense & Electronics is a world leader in
the design, manufacture and support of high technology electronic systems and
components for defense and commercial markets. ITT Fluid Technology is one of
the world's leading manufacturers of products, systems and services for the
movement, measurement, and control of fluids.
In addition to the New York Stock Exchange, ITT Industries' stock is
traded under the symbol ("IIN") on the Midwest, Pacific, London, Frankfurt and
For more information about ITT Industries visit ITT Industries' home page
on the Web: http://www.ittind.com.
SOURCE ITT Industries
CONTACT: Tom Martin of ITT Industries, 914-641-2157