ITT Inc. today announced the election of Bertrand Loy and Kevin Wheeler to its Board of Directors, effective August 1, 2026. The appointments reflect a disciplined approach to board refreshment and focus on adding directors with capabilities aligned with ITT's strategic direction and business goals. The Board also appointed Mr. Loy to the Audit Committee and Mr. Wheeler to the Nominating and Governance Committee, effective August 1, 2026.

Bertrand Loy is Executive Chairman and former Chief Executive Officer of Entegris, Inc., a global supplier of advanced materials and process solutions for the semiconductor and other high-technology industries. He served as Chief Executive Officer from 2012 to 2025 and was appointed Executive Chairman in 2025. Earlier in his tenure at Entegris, he held senior leadership roles, including Chief Operating Officer and Executive Vice President of Global Supply Chain and Manufacturing. Mr. Loy also serves as an independent director of Ashland Inc., where he is a member of the Audit Committee and the Governance and Nominating Committee. He holds an MBA from ESSEC Business School in France.

Kevin Wheeler is Executive Chairman and former Chief Executive Officer of A. O. Smith Corporation, a global water technologies manufacturer serving customers in more than 60 countries. He served as Chief Executive Officer from 2018 to 2025 and became Executive Chairman in 2025. During his more than 30-year career with A. O. Smith, Mr. Wheeler held leadership roles spanning sales, marketing, international business development, global operations, manufacturing and engineering. Mr. Wheeler also serves as an independent director of Graco Inc., where he is a member of the Management Organization and Compensation Committee and the Governance Committee. He holds a Bachelor of Science degree in Finance from the University of Nevada and completed the Advanced Management Program at Harvard Business School.

Board Appointments Overview

ITT is a diversified leading manufacturer of highly engineered critical components and customized technology solutions for the transportation, industrial, nutrition and health and energy markets. The company operates through three value centers: Flow Technologies, Motion Technologies and Connect & Control Technologies. ITT is headquartered in Stamford, Connecticut, with employees in more than 40 countries and sales in approximately 125 countries.

ITT Inc. has signed a definitive agreement to acquire privately held Aerospace Contacts LLC for $31 million, aiming to strengthen its position in the aerospace and defense market. The acquisition targets a leading manufacturer of highly engineered contact systems and interconnect components. This strategic move is designed to enhance supply chain resilience and support further growth within ITT's Connect & Control Technologies (CCT) segment.

Aerospace Contacts specializes in critical, high-reliability precision contacts used in connectors for the aerospace and defense sector. The company has served as a long-standing supplier to ITT Cannon. By integrating Aerospace Contacts, ITT intends to leverage the target's customer-focused operations, which are underpinned by quality and speed-to-market capabilities.

Acquisition Details

The transaction details highlight the strategic fit and operational scale of the target company:

Founded in 1999, Aerospace Contacts operates a manufacturing facility in Gilbert, Arizona, employing approximately 140 highly technical professionals. The pending acquisition will combine this specialized manufacturing capability with ITT's global reach.

Strategic Rationale

Luca Savi, ITT's Chief Executive Officer and President, emphasized the strategic alignment of the deal. "Aerospace Contacts reflects our ongoing commitment to executing strategic acquisitions that strengthen ITT's businesses and overall portfolio," Savi stated. He noted that the acquisition would enhance ITT's ability to support aerospace and defense customers through improved quality and market responsiveness.

The acquisition is expected to close during the third quarter of 2026, pending the satisfaction of customary closing conditions. ITT operates through three value centers: Flow Technologies, Motion Technologies, and Connect & Control Technologies.