ITT Names Luca Savi to New Chief Operating Officer Role
January 05 2017 - 2:00PM
Business Wire
Company also announces departure of Industrial
Process President Aris Chicles
ITT Inc. (NYSE:ITT) announced today that Luca Savi has been
named Chief Operating Officer. In this new role, he will focus on
driving business performance by expanding and strengthening ITT’s
comprehensive management system and processes, while continuing to
grow world-class operational capabilities across the company.
“We are very pleased to have a proven business leader like Luca
take on this key role,” said CEO and President Denise Ramos. “As
president of our Motion Technologies business, he has advanced our
long-term strategy while driving significant operational
improvements that have further positioned MT as a global
powerhouse.
“With this change, I also look forward to having the opportunity
to take a more prominent role driving innovation and market growth,
enhancing our partnerships and brands with customers and other
external stakeholders, and engaging with employees across ITT.”
In addition, unrelated to the structural change, Industrial
Process President Aris Chicles has announced he will be leaving the
company.
“I want to recognize Aris for the significant contributions he
has made to ITT. He played a vital role in enterprise strategy and
business development over a number of years and was directly
involved with our 2011 spin-off, which unlocked significant value
and created the foundation for who we are today,” Ramos said.
“In addition, over the past three years, during a period of
volatile market conditions, he has led the transformation of IP
providing a foundation for the future. I want to thank Aris for his
commitment and contributions to ITT and wish him all the best in
the future.
“Going forward, IP will continue to drive a strategy focused on
managing through the existing macro-economic environment, while
delivering long-term growth and market share gains and
strengthening operations, which Luca will help support in his new
role. With this approach, we will continue to improve value
creation for all our stakeholders.”
About ITT
ITT is a diversified leading manufacturer of highly engineered
critical components and customized technology solutions for the
energy, transportation and industrial markets. Building on its
heritage of innovation, ITT partners with its customers to deliver
enduring solutions to the key industries that underpin our modern
way of life. Founded in 1920, ITT is headquartered in White Plains,
N.Y., with employees in more than 35 countries and sales in a total
of approximately 125 countries. The company generated 2015 revenues
of $2.5 billion. For more information, visit www.itt.com.
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