WHITE PLAINS, N.Y., July 13 /PRNewswire/ -- ITT Industries, Inc.
(NYSE: IIN) announced today that Heidi Kunz, Executive Vice President and
Chief Financial Officer, will resign later this month to accept the position
of Chief Financial Officer and Executive Vice President at Gap Inc. Kunz
joined the company in December of 1995 just before ITT Industries became an
"Heidi Kunz has played a key role in helping us transform ITT Industries
as a diversified manufacturer over the last three years," said Travis Engen,
Chairman and Chief Executive of the company. "She was instrumental in helping
us achieve our current level of financial flexibility enabled by the
divestiture of our automotive businesses last year, and the subsequent
$1.1 billion share repurchase program completed in March. We wish her
continued success in her new role at Gap."
ITT Industries, Inc. (http://www.ittind.com) is a global engineering and
manufacturing company with leading positions in the markets it serves,
generating 1998 sales of $4.5 billion. ITT Industries is the world's largest
pump manufacturer and also designs systems and services to move and control
water and other fluids. The company is a major supplier of sophisticated
military defense systems, and provides advanced technical and operational
services to a broad range of government agencies. ITT Industries also
produces connectors, switches and cabling used in telecommunications,
computing, aerospace and industrial applications, as well as network services.
Further, ITT Industries makes industrial components for a number of other
markets, including transportation, construction and aerospace. Based in White
Plains, NY, ITT Industries employs approximately 33,000 people around the
NOTE TO EDITORS: "ITT Industries and its subsidiaries' press releases are
available at no charge via fax and the Internet. To receive releases by fax,
call 800-758-5804, extension 110006. For ITT Industries' news on the
Internet, visit http://www.ittind.com or http://www.prnewswire.com
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, or