Heidi Kunz, Richard J. Labrecque Elected Executive Vice Presidents;
Edward W. Williams, Marvin R. Sambur, Gerald Gendron Elected
Corporate Vice Presidents
WHITE PLAINS, N.Y., Oct. 27 /PRNewswire/ -- The Board of Directors of
ITT Industries, Inc. (NYSE: IIN) today announced three key appointments on the
company's Executive Committee. Louis J. Giuliano, Senior Vice President of
ITT Industries, has been elected to the newly created position of President
and Chief Operating Officer of the corporation. In his new role, Giuliano
will manage all operational activities for the $4.4 billion engineering and
manufacturing company serving the global pump, defense, interconnect and
specialty industrial markets. Heidi Kunz, Senior Vice President and Chief
Financial Officer, has been elected to the position of Executive Vice
President and Chief Financial Officer, and Richard J. Labrecque, Senior Vice
President of ITT Industries, has also been elected Executive Vice President of
"In recent months, we have dramatically transformed ITT Industries, and we
have emerged with core businesses that are strong platforms for growth. We
have a great opportunity to re-deploy significant assets to grow these
businesses following our recent divestitures," said Travis Engen, ITT
Industries' chairman and chief executive. "At the same time, we're committed
to improving operating performance, something Lou Giuliano has consistently
accomplished. Over the years, he has significantly boosted operating income
and margins in our defense and electronics businesses."
Prior to his appointment to this position, Giuliano served as Senior Vice
President of ITT Industries, and President and Chief Executive Officer of ITT
Industries' Defense and Electronics business. He joined the company in
July 1988 as Vice President of ITT Corporation and Vice President - Defense
Operations at ITT Defense after a 19-year career at AlliedSignal and Bendix.
He served as President of the Avionics Systems Group of the AlliedSignal
Aerospace Company. Prior to that, Giuliano served as Vice President and Group
Executive of the Bendix Avionics Systems Group. He also served as Vice
President and General Manager of the Bendix General Aviation Avionics
Division. Earlier in his career, he managed marketing and program management
organizations in several Bendix divisions. Giuliano is a graduate of Syracuse
University with a Bachelor of Science degree in chemistry and a Master of
Business Administration in marketing. He is Vice Chairman and a member of the
Board of Directors of the National Defense Industrial Association and a member
of the Board of Governors of the Aerospace Industries Association.
Following her election, Heidi Kunz retains her role as ITT Industries'
Chief Financial Officer, and assumes all operating responsibilities for the
company's fluid handling, friction materials and shock absorber businesses
that were formerly part of the company's automotive unit. In September, the
company divested its automotive Electrical Systems and Brake and Chassis
Kunz joined ITT Industries in December 1995, as Senior Vice President and
Chief Financial Officer. During her tenure, she has taken a lead role in the
successful automotive divestitures and the overall transformation of the
company. She joined ITT Industries after a 16-year career with General
Motors, where she attained management responsibilities in corporate and
international finance. Following a stint as Treasurer of General Motors of
Canada, she returned to the US in 1989 as Assistant Treasurer of General
Motors, and was promoted to Treasurer in 1993, and Vice President in 1994.
Kunz is a graduate of Georgetown University, and received her Masters of
Business Administration from Columbia University Graduate School of Business.
She has been profiled by World Link and the World Economic Forum as one of the
Global Leaders for Tomorrow. She is also a member of Columbia Business
School's Board of Overseers.
With his election, Richard Labrecque will retain responsibility for ITT
Industries' worldwide fluid businesses. Most recently, he has overseen the
successful integration of Goulds Pumps, following ITT Industries' acquisition
of Goulds in 1997. Labrecque joined the company in 1982 as President of the
Fluid Handling Division and was named General Manager of the ITT Fluid
Products Group-Worldwide in 1984. He was elected a corporate Vice President
in 1985 and, from 1988 until 1995, was President of the ITT Fluid Transfer
Division. He was promoted to corporate Senior Vice President, and President
and CEO of the company's Fluid Technology unit in March 1996.
Labrecque has spent his entire business career in the machinery industry,
starting as an apprentice tool and die maker with the General Electric
Company. After 12 years with GE's Aircraft Engine Group, he joined Colt
Industries in 1968, where he was President of the Fairbanks Morse Pump
Division and, later, President of the Quincy Compressor Division. Labrecque
holds a Bachelor of Science degree in electrical engineering from Tufts
University and a Master of Science degree in Industrial Administration from
Union College. He is a member of The Water Academy in Oslo, Norway and the
Corporate Advisory Board of Eurasia Group.
In other board action today, Edward W. Williams, Vice President and
Controller at ITT Industries' defense and electronics unit, was elected Vice
President and Controller, ITT Industries. Marvin R. Sambur, President and
General Manager of ITT Industries' Aerospace/Communications Division, was
elected Vice President of ITT Industries, and President of ITT Defense, and
Gerald Gendron, President of the company's Cannon connectors division, was
elected Vice President, ITT Industries.
Further, the company announced that Frank Macher, Senior Vice President of
ITT Industries, and head of the automotive unit, will retire early next year
following the company's September divestitures. Macher will be working with
Heidi Kunz during the coming months to ensure a smooth transition.
"Frank has done an outstanding job for ITT Industries over the last
18 months, and we credit him with improving the performance of the automotive
businesses, and with making sure that employees and our customers were well
served during the divestiture process," Mr. Engen said. "We are grateful for
the extraordinary leadership Frank demonstrated during his tenure with us, and
wish him every success in his future pursuits."
About ITT Industries
ITT Industries, Inc. (http://www.ittind.com) is a global industrial
manufacturing company with leading positions in the markets that it serves,
generating annual global sales of $4.4 billion. ITT Industries is the world's
largest producer of pumps and also produces systems and services to move and
control water and other fluids. The company is also a leading supplier of
sophisticated military defense systems, and provides advanced technical and
operational services to a broad range of government agencies. ITT Industries
is a leading provider of electrical interconnects for cellular telephones,
aerospace, network communications, "smart cards" for personal data storage,
and PC cards for laptop computers. Further, ITT Industries provides
industrial components for a number of other markets, including transportation,
construction and aerospace. Based in White Plains, NY, ITT Industries employs
approximately 35,000 people around the world.
In addition to the New York Stock Exchange, ITT Industries' common stock
is traded under the symbol ("IIN") on the Midwest, Pacific, London, Frankfurt
and Paris exchanges.
ITT Industries and its subsidiaries' news releases are available at no
charge via fax and the Internet. For ITT Industries news and information on
the Internet, visit http://www.ittind.com or http://www.prnewswire.com. To
receive releases by fax, call 800-758-5804, extension 110006.
SOURCE ITT Industries, Inc.
Web site: http://www.ittind.com
Company News On-Call: http://www.prnewswire.com/comp/110006.html
or fax, 800-758-5804, ext. 110006
CONTACT: Tom Glover of ITT Industries, Inc., 914-641-2160