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ITT Announces CEO Transition Plan

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Luca Savi, ITT's EVP and COO, to Succeed Denise Ramos as CEO and
President in January 2019

ITT Inc. (NYSE:ITT) today announced that CEO and President Denise Ramos
has decided to retire. 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. 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.

For the remainder of 2018, Savi will continue to report to Ramos as they
work together, along with the ITT Leadership Team and Board of
Directors, to ensure a seamless transition. He will remain responsible
for driving global business performance and expanding world-class
capabilities across the company.

"It has been an honor to lead ITT over the past seven years, and I am
very proud of the performance and success that our talented team has
achieved together," said Ramos, who joined ITT in 2007 as Chief
Financial Officer. "In discussing succession planning with the Board of
Directors, it has been clear that we have a leader in Luca who brings a
unique combination of capabilities that will power ITT on the next part
of its journey.

"As a member of the ITT Leadership Team, Luca has helped shape and
execute the strategies that have driven our strong ongoing performance,
and he has a proven track record of leading innovation, business and
market growth, and operational excellence – both at ITT and in other
roles throughout his career at companies such as Honeywell and Royal
Dutch Shell. His global perspective, growth-oriented mindset and intense
focus on customers make him uniquely qualified to continue our legacy of
creating value," said Ramos.

Frank MacInnis, Chairman of ITT's Board of Directors, said, "Denise's
leadership over the past seven years has been outstanding as she has
successfully driven the creation of a company distinguished by its
strong performance, attractive portfolio of businesses, robust balance
sheet and intense commitment to building a vibrant culture. During her
tenure, ITT has continually created value for shareholders as market
capitalization has grown to $4.9 billion, an increase of more than 2.5X.
This planned transition comes at a time of strength for ITT and the
Board of Directors is confident that Luca is well-qualified to lead the
company's continued development and growth."

Savi said, "It is a privilege to have the opportunity to be the next
leader of this incredible company. We continue our journey with the
support of our strong Board of Directors, our experienced leadership
team, and our talented and committed ITT'ers all around the world. We
will build on the foundation that we have created over the past several
years and work together to support the continued betterment of our
company for our customers, employees, shareholders and communities."

Savi joined ITT in 2011 and most recently served as Executive Vice
President and Chief Operating Officer, where he worked closely with the
company's three segments to implement sustainable management systems
that have helped drive operating margin expansion, working capital
improvements and overall business performance. Given these advancements,
the company will not seek to fill the COO role in January. Savi also
served as president of the company's Motion Technologies segment, where
he led the development of strong operational capabilities, revenue
growth of 55 percent, global expansion and customer-centric innovation
such as the ITT Smart Pad.

As previously announced, the company will release its
second-quarter 2018 financial results at 6:00 a.m. ET, on Friday, August
3, 2018. At 9 a.m. ET, senior management will review financial and
operating results, comment on current conditions and answer questions
during an investor briefing.

The briefing can be accessed live by calling +1 (706) 643-7542 (ID#:
5988295). A real-time audio webcast of the presentation can be accessed
at www.itt.com/investors,
where related materials will be posted prior to the presentation and a
replay of the webcast will be available for 90 days following the
presentation.

A replay of the briefing will be available telephonically from two hours
after the webcast until Friday, August 17, 2018, at midnight. The
telephone replay will be available by calling +1 (800) 585-8367 (ID#:
5988295).

About ITT
ITT is a diversified
leading manufacturer of highly engineered critical components and
customized technology solutions for the transportation, industrial, and
oil and gas markets. Building on its heritage of innovation, ITT
partners with its customers to deliver enduring solutions to the key
industries that underpin our modern way of life. ITT is headquartered in
White Plains, N.Y., with employees in more than 35 countries and sales
in a total of approximately 125 countries. The company generated 2017
revenues of $2.6 billion. For more information, visit www.itt.com.

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