This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ITT Nominates Richard P. Lavin To Its Board Of Directors

Stocks in this article: ITT

ITT Corporation (NYSE: ITT) today announced it has nominated Richard P. Lavin to its Board of Directors. Lavin, 61, is the former group president, construction industries and growth markets, for Caterpillar Inc.

Lavin held a number of leadership positions during his nearly 30-year career with Caterpillar including chairman of Caterpillar (China) Investment Co. Ltd.; vice president, operations and manufacturing, Asia Pacific; and vice president, human services division.

“We are very pleased to welcome Richard to our Board of Directors,” said Denise Ramos, chief executive officer and president. “As a successful industrial manufacturing operations executive with extensive experience in Asia, his knowledge and perspective will be powerful assets for ITT as we continue to grow this business globally.”

Lavin will be nominated to the Board of Directors and be subject to shareowner approval during the company’s May 7 annual shareowners meeting, along with other nominees named in ITT’s 2013 proxy statement.

In addition, as previously announced as part of ITT’s 2011 separation plan, Markos I. Tambakeras, an ITT director since 2001, and Paul J. Kern, an ITT director since 2008, will retire from ITT’s Board of Directors, effective as of the company’s May 7 shareowners meeting.

“Markos and Paul have provided invaluable insights to ITT, most recently through our very successful separation plan, and they provided important historical perspective to guide us through our first year as a newly focused and truly global diversified industrial company,” Ramos said. “We have benefited from their insights, and I appreciate their commitment to this company and its long-term success.”

The company also announced that Linda S. Sanford, an ITT director since 1998, will retire from the Board of Directors, effective May 7.

“During the past 15 years, Linda has been a strong presence on our Board of Directors and has helped guide our strategies to continually drive profitable growth and create value for shareowners,” Ramos said. “I have valued her counsel and perspective, which includes a sophisticated view of information technology systems and communications, and I appreciate her commitment and many contributions to ITT.”

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs