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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 28, 2004
ITT INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Indiana 1-5627 13-5158950
- --------------- -------------- ----------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
organization)
4 West Red Oak Lane
White Plains, New York 10604
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (914) 641-2000
(Former name or former address if changed since last report)
ITEM 5. Other Events
On June 28, 2004, ITT Industries, Inc. issued a press release announcing the
election of Steven R. Loranger as Director, President and Chief Executive
Officer of ITT Industries, Inc. ITT Industries, Inc. also announced that Louis
J. Giuliano, resigned as President and Chief Executive Officer, but would
continue as a Director and Chairman of the Board of the Company. A copy of this
press release is attached and incorporated by reference herein as Exhibit 99.1.
ITEM 7. Exhibits
(99.1) Press release dated June 28, 2004 issued by ITT Industries, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
ITT INDUSTRIES, INC.
By: /s/ Kathleen S. Stolar
-----------------------
Kathleen S. Stolar
Its: Vice President, Secretary
and Associate General Counsel
Date: June 29, 2004
Exhibit 99.1
ITT Industries Names Steven R. Loranger President and Chief Executive Officer
* Veteran of Textron and Honeywell, Loranger shares ITT's commitment to
operational excellence, growth and leadership development
* Loranger will become Chairman by end of 2004, succeeding Lou Giuliano
WHITE PLAINS, N.Y., June 28 /PRNewswire/ -- The Board of Directors of ITT
Industries, Inc. (NYSE: ITT) announced that it has elected Steven R. Loranger
to succeed Louis J. Giuliano as President and Chief Executive Officer
effective today. Loranger, 52, has also been elected to serve on the
company's Board of Directors. He joins ITT Industries from Textron Inc., a
$10 billion multi-industry company, where he has served as Executive Vice
President and Chief Operating Officer since 2002, with operating
responsibility for all of Textron's manufacturing business units as well as
the corporation's Six Sigma, Integrated Supply Chain, and Information
Technology functions. Prior to joining Textron, Loranger spent 21 years at
Honeywell, most recently as President and CEO of Honeywell's $5 billion
Engines, Systems and Services division.
Loranger's appointment marks the culmination of an extensive search that
began in February when Giuliano announced his plans to retire. Giuliano will
remain as ITT Industries non-executive Chairman during a transition period
that will conclude in 2004, after which Loranger will become Chairman.
"ITT Industries is a distinctive company with an effective portfolio of
strong market-leading businesses, and a proven management team with a passion
for winning," Loranger said. "I am pleased to become part of this team and I
will be working closely with Lou Giuliano and ITT's management to ensure a
seamless and productive transition. Together, we will continue to build upon
the company's commitment to operational excellence, growth through the
introduction of new products and leadership development."
Raymond LeBoeuf, chairman of the Search Committee and the Nominating and
Governance Committee for the ITT Industries Board of Directors said that
Loranger's track record is ideal for a company like ITT. "Steve's proven
leadership qualities and his experience in his position as Chief Operating
Officer of a large multi-industry company make him an excellent choice to lead
ITT Industries and continue its record of delivering strong organic revenue
and earnings growth. We look forward to ITT's future under his direction and
have every confidence in his ability to build on the success achieved by Lou
Giuliano and the entire management team."
Giuliano added, "I'm pleased that the Board has selected a successor who
shares my passion for operational excellence, along with a strategic
orientation and a focus on leadership development. Steve's leadership
qualities and reputation for integrity will serve him well in his role and
responsibilities as CEO of ITT. His range of business experience, including
aerospace and defense, automotive, and industrial with a number of different
companies will be a benefit to each of ITT's operating segments as he leads
the company in its next chapter."
Before Honeywell merged with AlliedSignal in 1999, Loranger held various
executive positions, including president and CEO of AlliedSignal Engines,
president of the Bendix Truck Brake Group, and vice president of the
Commercial Auxiliary Power unit. Loranger served as an officer and pilot in
the United States Navy from 1975 to 1981. He is a Phi Beta Kappa graduate of
the University of Colorado, where he earned Bachelors and Masters degrees in
science. He serves on several professional boards, including the board of the
National Association of Manufacturers, the Aerospace Industries Association
and the Congressional Medal of Honor Board.
The company will host a conference call starting at 10am today, June 28,
to comment on today's announcement. The briefing can be monitored via
telephone at +212-729-5000, and will be available for replay at 973-341-3080,
PIN 4919597.
About ITT Industries: ITT Industries, Inc. (http://www.itt.com) is a
$6 billion global multi-industry company based in White Plains, NY.
ITTsupplies advanced technology products and services in key markets
including: fluid and water management including water treatment; defense
communication, opto-electronics, information technology and services;
electronic interconnects and switches; and other specialty products. In
addition to the New York Stock Exchange, ITT Industries stock is traded on the
Midwest, Pacific, Paris and Frankfurt exchanges.
SOURCE ITT Industries, Inc.
-0- 06/28/2004
/CONTACT: Tom Glover of ITT Industries, Inc., +1-914-641-2160, or
tom.glover@itt.com/
/Web site: http://www.itt.com/
(ITT)
CO: ITT Industries, Inc.
ST: New York
IN: CPR
SU: PER