ITT Inc. (NYSE: ITT), White Plains, New York, has announced that its Board of Directors has appointed Richard P. Lavin to succeed current board chairman, Frank T. MacInnis, effective upon MacInnis’ retirement and following election at the Annual Meeting of Shareholders in May 2020. The company had previously disclosed MacInnis’ plan to retire as part of a succession strategy involving first the transition of the role of CEO to Luca Savi in January 2019, followed by the transition of the role of non-executive Chair in May 2020.
Lavin has served as a director of the company since 2013, and as chair of the Board’s Compensation and Personnel Committee since 2017.
Lavin served as CEO and president of Commercial Vehicle Group, Inc., a leader in development, manufacturing and fulfillment of fully-integrated system solutions for the commercial vehicle market. Currently, Lavin sits on the board of Allison Transmission Holdings, Inc., which is publicly traded.