Governance and Ethics

At ITT, we are firmly committed to doing the right thing, fostering transparency and competing fairly in the marketplace. Grounded in our values of respect, responsibility and integrity, we expect our people, processes, policies and systems to be fair and accountable.

The ITT Values

We're dedicated to respect, responsibility and integrity. Our values look beyond day-to-day business demands to remind us of what is truly important. These values have been embraced by employees globally and integrated into management goals, business plans and employee performance evaluations.

Code of Conduct

With the formation of the new ITT in October 2011, we released an updated Code of Conduct. The revised document details our expectations of employees and the processes now in place to promote an ethical culture, including our global commitments to human rights, inclusion and diversity, export compliance and fair competition.

Reporting a Concern

At ITT we strive to do the right thing, always. We seek to promote honest and ethical conduct and deter wrongdoing. That is the goal of our ethics and compliance program, which is supported by senior management's commitment to ethics, the ITT Code of Conduct, regular ethics training, and communications about our commitment to the highest ethical standards. If you have a concern or suspect wrongdoing you can file a report using EthicsPoint. All concerns raised are confidentially and appropriately reviewed in compliance with ITT policy.

Ombudsperson Network

In addition to ITT's Chief Ethics and Compliance Officer, many ITT sites around the globe have an ombudsperson, and there is a corporate ombudsperson for the entire company. Ombudspersons have ethics communications and training responsibilities, and provide employees a trusted and confidential source to ask questions and raise concerns.

Transparent Communications

ITT provides stakeholders with a steady flow of communications about the company's direction, decisions and priorities. Our Code of Conduct, annual report and Global Citizenship Report are publicly accessible one our website, and employees are kept informed through ongoing communications from managers and in live "town hall" events, on our intranet portal and through regular print and electronic newsletters and memos.

Governance Principles

ITT has corporate governance principles, charters for the board's standing committees, and policies regarding related-party transactions.

Board of Directors

The ITT Board of Directors is elected by company shareholders to oversee the actions and results of management, and to act in the best interests of the company and its shareholders. Board independence is vital. ITT CEO and President Denise Ramos is the only member of company management on the Board, and the Chairman of the Board is an independent director.

Financial Risk Assessments

ITT performs rigorous risk assessments of the internal controls that govern how we collect revenues, make payments, protect confidential information, purchase equipment and report financial results.