ITT CEO Denise Ramos To Retire

(RTTNews) - ITT Inc. (ITT) said that Chief Executive Officer and President Denise Ramos has decided to retire. She will continue to serve as Chief Executive Officer a until January 1 and in an advisory role to the company until her retirement on March 1, 2019.

As part of the company's long-term succession planning process, Luca Savi has been named to the newly created role of President and Chief Operating Officer, and he will become Chief Executive Officer and President on January 1, 2019.

For the remainder of 2018, Savi will continue to report to Ramos as they work together, along with the ITT Leadership Team and Board of Directors, to ensure a seamless transition.

Savi joined ITT in 2011 and most recently served as Executive Vice President and Chief Operating Officer. The company will not seek to fill the COO role in January. Savi also served as president of the company's Motion Technologies segment, where he led the development of strong operational capabilities, revenue growth of 55 percent, global expansion and customer-centric innovation such as the ITT Smart Pad.

The company will release its second-quarter 2018 financial results at 6:00 a.m. ET, on Friday, August 3, 2018.