ITT Industries Names Brenda Reichelderfer President, Electronic Components

24.06.2003

ITT Industries, Inc. today named Brenda L. Reichelderfer, Senior Vice President of the corporation, to President of ITT's Electronic Components group. She succeeds Gerard Gendron, who is resigning. Reichelderfer was previously President of the ITT's Motion & Flow Control segment.

"With today's announcement, we mark the beginning of a new chapter for one of our core global businesses, one we believe has excellent growth potential and in which we will continue to invest," said Louis Giuliano, Chairman, President and Chief Executive Officer of ITT Industries. "Brenda is a proven leader with broad global business experience and a strong commitment to operational excellence. I am confident she will further enhance the talented management team at our Electronic Components business, which has faced unprecedented market challenges over the last two years." "We also want to recognize the significant contributions made by Gerry Gendron, who has elected to resign from ITT Industries after more than 20 years with the company," Giuliano added. "Gerry has been a valued and trusted member of the senior management team, and has been instrumental in ITT Industries' progress. His values and dedication to the team are models to be emulated. We will miss him."

ITT Industries' Electronic Components segment is a global supplier of connectors, interconnects, cable assemblies, switches, dome arrays, keypads and components, as well as a provider of high-speed/high-bandwidth network systems and services.

Reichelderfer, 45, joined ITT Industries predecessor company, ITT Corporation, in 1982, and has held a variety of positions within the company's automotive, defense and fluid businesses. In 1998, she was named President of the Fluid Specialty group and subsequently became President of the Motion & Flow Control group in 2001. Reichelderfer is a winner of ITT's prestigious Ring of Quality Award for individual contribution in 1988 and the Harold S. Geneen Award for Creative Management in 1991. She holds a Bachelor of Science degree in Electrical Engineering from Ohio Northern University.

In addition to announcing Reichelderfer's promotion, Giuliano reaffirmed ITT Industries' previous earnings guidance for the second quarter and the full year. "While challenges remain for our Electronic Components business, we continue to see strength in our Defense business, and are encouraged by the long-term trends in our water and wastewater businesses and the performance of Motion & Flow Control. Based on the strength of ITT's core businesses, we maintain our previously communicated second quarter earnings forecast of $1.00-$1.03 per share, and $3.70-$3.90 for the year."

Source: ITT Inc.

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