<SEC-DOCUMENT>0001193125-18-239812.txt : 20180806
<SEC-HEADER>0001193125-18-239812.hdr.sgml : 20180806
<ACCEPTANCE-DATETIME>20180806170104
ACCESSION NUMBER:		0001193125-18-239812
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20180802
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180806
DATE AS OF CHANGE:		20180806

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ITT Inc.
		CENTRAL INDEX KEY:			0000216228
		STANDARD INDUSTRIAL CLASSIFICATION:	PUMPS & PUMPING EQUIPMENT [3561]
		IRS NUMBER:				811197930
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05672
		FILM NUMBER:		18995432

	BUSINESS ADDRESS:	
		STREET 1:		1133 WESTCHESTER AVENUE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604
		BUSINESS PHONE:		914.641.2041

	MAIL ADDRESS:	
		STREET 1:		1133 WESTCHESTER AVENUE
		CITY:			WHITE PLAINS
		STATE:			NY
		ZIP:			10604

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT Corp
		DATE OF NAME CHANGE:	20100308

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT CORP
		DATE OF NAME CHANGE:	20060705

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ITT INDUSTRIES INC
		DATE OF NAME CHANGE:	19951220
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>d606076d8k.htm
<DESCRIPTION>8-K
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>WASHINGTON, D.C. 20549 </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">FORM&nbsp;8-K</FONT> </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d)&nbsp;of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report: August&nbsp;2, 2018 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Date of earliest event reported) </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>ITT INC.
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"><B>Indiana</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">001-05672</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">81-1197930</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1133 Westchester Avenue </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>White Plains, New York </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive offices) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10604 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Zip Code)
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (914) <FONT STYLE="white-space:nowrap">641-2000</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Former
name or former address, if changed since last report </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the <FONT STYLE="white-space:nowrap">Form&nbsp;8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; Soliciting material pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;14a-12</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; <FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to <FONT
STYLE="white-space:nowrap">Rule&nbsp;14d-2(b)&nbsp;under</FONT> the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#9744; <FONT
STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;13e-4(c)&nbsp;under</FONT> the Exchange Act (17 CFR 240.13e-4(c)) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 under the Securities Act of 1933 (17 CFR 230.405) or Rule <FONT
STYLE="white-space:nowrap">12b-2</FONT> under the Securities Exchange Act of 1934 (17 CFR <FONT STYLE="white-space:nowrap">240.12b-2).</FONT> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging
growth company&nbsp;&nbsp;&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp;&#9744; </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;5.02.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Departure of Directors or Certain Officers; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers </B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On August&nbsp;2, 2018, ITT Inc. (the &#147;<U>Company</U>&#148;) announced the results of the thorough, multi-year
Chief Executive Officer (&#147;<U>CEO</U>&#148;) succession planning process of our Board of Directors (the &#147;<U>Board</U>&#148;). On January&nbsp;1, 2019, Denise L. Ramos will step down from the position of CEO and as a director of the Company.
Ms.&nbsp;Ramos will continue as an advisor to the CEO for a transition period through March&nbsp;1, 2019, at the end of which she will retire from the Company. Luca Savi, currently Executive Vice President and Chief Operating Officer of the Company,
has been designated as Ms.&nbsp;Ramos&#146; successor and will be promoted to President and Chief Operating Officer of the Company effective immediately. The Company expects that Mr.&nbsp;Savi will be appointed to the board of directors at the time
he becomes Chief Executive Officer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ms.&nbsp;Ramos&#146; retirement comes after an <FONT STYLE="white-space:nowrap">11-year</FONT> career with the
Company, during which she led the successful transformation of the Company following the spin-offs of various businesses into a more focused multi-industrial company aligned to its key end markets. Ms.&nbsp;Ramos&#146; leadership has been marked by
the Company&#146;s steady financial performance and continuous focus on optimizing execution and driving growth and innovation through investments in people, production capabilities and research and development. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank MacInnis will continue to serve as the Board&#146;s <FONT STYLE="white-space:nowrap">Non-Executive</FONT> Chairman. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of our press release, dated August&nbsp;2, 2018, announcing the transition is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Savi biography. </B>Luca Savi, 52, has served as our Executive Vice President and Chief Operating Officer since January 2017 and previously as
Executive Vice President, Motion Technologies since February 2016. He joined ITT in November 2011 as Senior Vice President and President, Motion Technologies, and led that business through a period of significant growth in sales and profitability.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Savi compensation changes. </B>In connection with his promotion to President and Chief Operating Officer, the Board took the following actions with
respect to Mr.&nbsp;Savi&#146;s compensation commencing on August&nbsp;6, 2018: (1) increased his base salary to $750,000 (or &#128;640,000 converted at a 1.17 U.S. dollar to Euro exchange rate) and (2)&nbsp;set his target annual bonus for 2018 as a
percentage of salary at 100%. Mr.&nbsp;Savi will continue to be eligible to participate in the Company&#146;s Omnibus Equity Incentive Plan. For more information regarding the Company&#146;s annual incentive plan and equity award program, see the
Company&#146;s Definitive Proxy Statement for the 2018 Annual Meeting of Shareholders filed with the U.S. Securities and Exchange Commission on April&nbsp;9, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional actions. </B>In connection with the succession plan, the Compensation&nbsp;&amp; Personnel Committee of the Board also granted Thomas M.
Scalera, the Company&#146;s Executive Vice President and Chief Financial Officer, $500,000 of restricted stock units and $500,000 of performance units, each under the Company&#146;s Omnibus Equity Incentive Plan. These incentives are in recognition
of Mr.&nbsp;Scalera&#146;s significant contributions to the Company and reflect the Board&#146;s desire to provide leadership continuity through the succession process. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="9%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Financial Statements and Exhibits. </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Exhibits </P></TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit&nbsp;No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d606076dex991.htm">Press Release issued by ITT Inc., dated August&nbsp;2, 2018 </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ITT Inc.</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">(Registrant)</P></TD></TR>

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<TD VALIGN="top">August&nbsp;6, 2018</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Mary E. Gustafsson</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top">Name: Mary E. Gustafsson</TD></TR>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:3.00em; text-indent:-3.00em; font-size:10pt; font-family:Times New Roman">Title:&nbsp;&nbsp;&nbsp;Senior Vice President, General Counsel and Chief Compliance Officer
(Authorized Officer of Registrant)</P></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>

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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>ITT Inc.</B></P> <P STYLE="font-size:6pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">1133 Westchester Ave.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">White Plains, NY 10604</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman">tel 914 641 2000</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Press Release </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ITT Announces CEO Transition Plan </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Luca Savi, ITT&#146;s EVP and COO, to Succeed </I></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>Denise Ramos as CEO and President in January 2019 </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHITE PLAINS, N.Y., Aug.</B><B></B><B>&nbsp;2, 2018</B> &#150; ITT Inc. (NYSE: ITT) today announced that CEO and President Denise Ramos has decided to
retire. She will continue to serve as CEO until Jan. 1 and in an advisory role to the company until her retirement on March&nbsp;1, 2019. As part of the company&#146;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 Jan. 1, 2019. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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. He will remain responsible for driving global business performance and expanding
world-class capabilities across the company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;It has been an honor to lead ITT over the past seven years, and I am very proud of the performance and
success that our talented team has achieved together,&#148; said Ramos, who joined ITT in 2007 as Chief Financial Officer. &#147;In discussing succession planning with the Board of Directors, it has been clear that we have a leader in Luca who
brings a unique combination of capabilities that will power ITT on the next part of its journey. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;As a member of the ITT Leadership Team, Luca has
helped shape and execute the strategies that have driven our strong ongoing performance, and he has a proven track record of leading innovation, business and market growth, and operational excellence &#150; both at ITT and in other roles throughout
his career at companies such as Honeywell and Royal Dutch Shell. His global perspective, growth-oriented mindset and intense focus on customers make him uniquely qualified to continue our legacy of creating value,&#148; said Ramos. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Frank MacInnis, Chairman of ITT&#146;s Board of Directors, said: &#147;Denise&#146;s leadership over the past seven years has been outstanding as she has
successfully driven the creation of a company distinguished by its strong performance, attractive portfolio of businesses, robust balance sheet and intense commitment to building a vibrant culture. During her tenure, ITT has continually created
value for shareholders as market capitalization has grown to $4.9&nbsp;billion, an increase of more than 2.5X. This planned transition comes at a time of strength for ITT and the Board of Directors is confident that Luca is well-qualified to lead
the company&#146;s continued development and growth.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Savi said, &#147;It is a privilege to have the opportunity to be the next leader of this
incredible company. We continue our journey with the support of our strong Board of Directors, our experienced leadership team, and our talented and committed ITT&#146;ers all around the world. We will build on the foundation that we have created
over the past several years and work together to support the continued betterment of our company for our customers, employees, shareholders and communities.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Savi joined ITT in 2011 and most recently served as Executive Vice President and Chief Operating Officer,
where he worked closely with the company&#146;s three segments to implement sustainable management systems that have helped drive operating margin expansion, working capital improvements and overall business performance. Given these advancements,
the company will not seek to fill the COO role in January. Savi also served as president of the company&#146;s Motion Technologies segment, where he led the development of strong operational capabilities, revenue growth of 55&nbsp;percent, global
expansion and customer-centric innovation such as the ITT Smart Pad. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">As previously announced, the company<B> </B>will release its second-quarter 2018
financial results at 6 a.m. ET, on Friday, August&nbsp;3, 2018. At 9 a.m. ET, senior management will review financial and operating results, comment on current conditions and answer questions during an investor briefing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The briefing can be accessed live by calling +1 (706) <FONT STYLE="white-space:nowrap">643-7542</FONT> (ID#: 5988295). A real-time audio webcast of the
presentation can be accessed at www.itt.com/investors, where related materials will be posted prior to the presentation and a replay of the webcast will be available for 90 days following the presentation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A replay of the briefing will be available telephonically from two hours after the webcast until Friday, August&nbsp;17, 2018, at midnight. The telephone
replay will be available by calling +1 (800) <FONT STYLE="white-space:nowrap">585-8367</FONT> (ID#: 5988295). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>About ITT </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, and
oil and gas 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 White Plains, N.Y., with employees in more
than 35 countries and sales in a total of approximately 125 countries. The company generated 2017 revenues of $2.6&nbsp;billion. For more information, visit <U>www.itt.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Contacts: </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Investors:</U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jessica Kourakos</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">914-641-2030</FONT></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><U>jessica.kourakos@itt.com</U></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Media:</U></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Kathleen Bark</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">+1 <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">914-641-2103</FONT></FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman"><U>kathleen.bark@itt.com</U></P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

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