Marine Mover – ITT elects new chairman

WHITE PLAINS, N.Y. – Marine Industry supplier ITT Industries Inc. said yesterday that its board has elected Steven R. Loranger, the company’s president and chief executive, as chairman as well, according to an Associated Press story.

Loranger succeeds Lou Giuliano, who retired as president and chief executive earlier this year. Giuliano will remain on the board until Dec. 31, after which there will be eight other directors, including Loranger.

Before Loranger was named president and chief executive and elected to the board in June, he had been chief operating officer of Textron Inc.