- Push-out Score determined
- After about seven years in the position
- Accolades and praise for Ramos
- Ramos spoke at length and said 149 words
(exechange) — White Plains, New York, August 2, 2018 — Denise Ramos, chief executive of ITT, hands over the reins. As announced by ITT Inc. in a news release on Thursday, August 2, 2018, Denise L. Ramos leaves her post as Chief Executive Officer at the maker of components for the aerospace, transportation, energy and industrial markets after about seven years in the role, effective January 1, 2019.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.5 years, according to data compiled by exechange.
Ramos leaves the company effective March 1, 2019.
Ramos’s duties will be taken over by Luca Savi, currently Chief Operating Officer of ITT Inc.
“Long-term succession planning process”
Ramos’s departure from the CEO post is explained as follows. ITT said: “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 Jan. 1, 2019.”
Precise information about Ramos’s future plans was not immediately available.
ITT said: “CEO and President Denise Ramos has decided to retire.”
Share price rise since January 2016
The change follows a rise in the share price of ITT Inc. since January 2016.
Chaired by Frank MacInnis
ITT Inc. is chaired by Frank MacInnis.
An ITT director since 2001, MacInnis brings to the board more than 30 years of international experience and a global perspective gained through his role as former chairman and chief executive officer of EMCOR Group, Inc. He also served at The Williams Companies as a director for 18 years and chairman for five years.
In the position of CEO since 2011
Denise Ramos is chief executive officer and president at ITT.
She has been the Chief Executive Officer and President at ITT Inc. since October 31, 2011.
She previously served as senior vice president and chief financial officer, and was responsible for all aspects of financial management and reporting for the global multi-industry company, as well as communication to the investment community.
Ramos brings a unique background to her role as CEO that combines more than two decades in the oil and gas industry with significant retail and customer-centric experience.
She began her career at Atlantic Richfield Company (ARCO) of Los Angeles, Calif., where she spent 21 years in a number of increasingly responsible finance positions, including corporate general auditor and assistant treasurer, the position she held when the company was acquired in 2000 by British Petroleum.
Ramos then joined Yum! Brands Inc. in Louisville, Ky., where she was senior vice president and corporate treasurer.
She also served as chief financial officer for the U.S. division of KFC Corporation.
Prior to joining ITT in 2007, she served as chief financial officer for Furniture Brands International.
Ramos serves on the Board of Directors for Phillips 66 and is a member of The Business Council.
She is also a member of the Manufacturers Alliance for Productivity and Innovation (MAPI) and was included in the Top 100 CEO Leaders in Science, Technology, Engineering and Math publication by STEMconnector™.
Ramos has received a Distinguished Leadership Award from the New York Hall of Science and was named to Fortune magazine’s 2014 Top People in Business.
Ramos holds an M.B.A. in Finance from the University of Chicago.
She will continue to serve as CEO until Jan. 1 and in an advisory role to the company until her retirement on March 1, 2019.