ITT Spins Off Xylem and ITT Exelis
ITT Corp. established Exelis Inc., the company’s defense and information solutions business, as ITT Exelis and Xylem Inc., its water technology services business, as distinct, publicly traded companies. All three companies will be listed on the New York Stock Exchange. ITT shares will continue to trade under the ticker symbol ITT. Exelis shares will trade under XLS and Xylem shares will trade under XYL. The company also announced a new board of directors. Frank T. MacInnis was named chairman. Other ITT board members include G. Peter D’Aloia, Donald DeFosset Jr., Christina A. Gold, Paul
