ITT Announces New Board of Directors Appointments and $1 Billion Share Repurchase Authorization
- Nazzic Keene and Kevin Berryman joining the Board of Directors brings new leadership and expertise to ITT.
- The $1 billion share repurchase authorization demonstrates ITT's commitment to returning value to shareholders.
- Since 2019, ITT has deployed over $500 million to share repurchases, reducing the outstanding share count by more than 6%.
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“We are delighted to appoint to the ITT Board two highly respected, results-driven leaders with long track records of success,” said ITT Chairman of the Board, Timothy H. Powers. “These appointments demonstrate our stated commitment to board refreshment and represent an important step in the continued evolution of director capabilities and skillsets to remain aligned to the strategic and financial direction of ITT.”
“Nazzic brings broad public company experience as CEO of a multi-billion-dollar global organization. She has a demonstrated history of driving growth and change as CEO of SAIC and extensive experience working with its board,” said ITT Chief Executive Officer and President Luca Savi.
“Kevin brings extensive financial and operational experience on a global scale, having served as President and Chief Financial Officer of Jacobs Solutions for the last eight years. His expertise in all aspects of strategy and financial operations will be an invaluable addition to ITT. Both individuals are experienced public company directors, and also bring deep merger and acquisition and integration experience, which will help ITT execute on its capital deployment objectives,” concluded Savi.
The appointment of Mr. Berryman is effective as of Oct. 3, 2023, and the appointment of Ms. Keene is effective as of Oct. 6, 2023. The Board also appointed Mr. Berryman to the Company’s Audit Committee and appointed Ms. Keene to the Nominating and Governance Committee, effective at the time of their elections.
Share Repurchase Authorization
Speaking on the new
About Nazzic Keene
Nazzic Keene retired on Oct. 2 from her position as CEO of Science Applications International Corporation (SAIC), which she held since 2019. SAIC is a
Nazzic has extensive public company board experience as part of SAIC and as a board member of Automatic Data Processing, Inc. (ADP) which she joined in 2020 and where she serves as a member of the Audit Committee and Corporate Development and Technology Advisory Committee. Nazzic received her Bachelor of Science in Business Administration at the University of
About Kevin Berryman
Kevin Berryman was most recently the Chief Financial Officer of Jacobs Solutions Inc., a Fortune 500,
Kevin is also a member of the board of directors of Sealed Air Corporation, where he serves as a member of the Audit Committee and Organization and Compensation Committee. He received his Bachelor of Arts in Economics from Occidental College, and an MBA in Finance and Marketing from the University of
About ITT
ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and energy 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. ITT is headquartered in
View source version on businesswire.com: https://www.businesswire.com/news/home/20231005523068/en/
Media:
Phil Terrigno
+1 914-641-2143
phil.terrigno@itt.com
Investors:
Mark Macaluso
+1 914-641-2064
mark.macaluso@itt.com
Source: ITT Inc.
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