Steven R. Loranger Elected Chairman of ITT Industries Board of Directors

* Loranger succeeds Lou Giuliano, who is concluding 16-year ITT career

Dec 07, 2004, 00:00 ET from ITT Industries, Inc.

    WHITE PLAINS, N.Y., Dec. 7 /PRNewswire-FirstCall/ -- The Board of
 Directors of ITT Industries, Inc. (NYSE:   ITT) today elected the company's
 President and Chief Executive Officer Steven R. Loranger to the position of
 Board Chairman.  Loranger replaces Lou Giuliano in this capacity, who earlier
 this year retired as ITT's President and Chief Executive Officer.  Loranger's
 election completes the corporate succession plan announced in February.
 Giuliano will remain on the ITT Industries Board until December 31, after
 which, in addition to Loranger, there will be eight other Board members.
     (Photo: )
     Loranger, 52, was named President and Chief Executive Officer and elected
 to the Board of Directors of ITT Industries in June of this year.  Immediately
 prior to that, he was Chief Operating Officer of Textron, Inc., having joined
 that company in 2002 after a 23-year career at Honeywell.
     Today's Board action concludes Giuliano's successful 16-year career with
 ITT Industries and its predecessor company ITT Corporation.  He joined the
 company in 1988 in the Defense Electronics & Services business, and was named
 its president in 1993.  He was named President and Chief Operating Officer of
 ITT Industries in 1998, and became Chairman and Chief Executive Officer in
     "Lou's focus on creating value and customer service, his leadership, sound
 business judgment and personal integrity have left an indelible imprint on ITT
 Industries, and have certainly left us in a stronger position from which to
 continue growing the company," Loranger said.  "During Lou's tenure, the
 company established an industry-leading track record of total shareholder
 return and organic growth.  Most impressive among his accomplishments was the
 implementation of Value-Based Six Sigma, a process improvement initiative now
 incorporated in our worldwide operations.  Lou's relentless pursuit of
 excellence proved contagious, a lasting inspiration for thousands of ITT
 employees worldwide, and is most evident in the company's strong financial and
 operational performance.  While we will all miss the regular contact with Lou,
 everyone at ITT Industries extends to him and his family our very best
     Loranger is a Phi Beta Kappa graduate of the University of Colorado, where
 he earned Bachelors and Masters degrees in science.  Loranger served as an
 officer and pilot in the United States Navy from 1975 to 1981.  He is a member
 of the Business Roundtable and serves on the boards of the National Air and
 Space Museum and the Congressional Medal of Honor Foundation.
     About ITT Industries: ITT Industries, Inc. ( is a $6
 billion global multi-industry company based in White Plains, NY. ITT supplies
 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, London,
 Paris and Frankfurt exchanges.

SOURCE ITT Industries, Inc.