The ITT Wars: An Insider's View of Hostile Takeovers

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9781893122383: The ITT Wars: An Insider's View of Hostile Takeovers
About the Author:

Director, Dow Jones & Company, Inc.

Director, ITT Educational Services Inc.

Director, ITT Industries, Inc.

Director, Rayonier Inc.

Director, The Hartford Financial Services Group, Inc.

Mr. Araskog, 66, was chairman and chief executive of ITT Corporation from December 1995 until March 1998. Previously he had served as the chief executive of the corporate predecessor of ITT Industries from 1979 and as its chairman from 1980. He is a director of Hartford Financial Services Group, Inc., ITT Educational Services, Inc., Alcatel Alsthom of France, Dow Jones & Company, Inc., Rayonier Inc., and Shell Oil Company. Mr. Araskog is a member of The Business Council and The Business Roundtable. He is a graduate of the U.S. Military Academy at West Point and attended the Harvard Graduate School of Arts and Sciences.

Mr. Araskog has been a Director of ITT Industries or its predecessor since 1977. He is a member of the Capital Committee.

Rand V. Araskog

Chairman & C.E.O. ITT Corporation (1966 - 1998)

Chairman, 1980 C.E.O., 1979 Director, 1977 Executive Vice President, 1976 Defense Space Group, Vice President, 1971 ITT Defense Communications, President,1967 U.S. Defense-Space Group, Director of Marketing, 1966 Honeywell, Inc., Director of Marketing and Planning Aeronautical Division

ITT Hartford Insurance Group, Director ITT Industries, Inc., Director ITT Sheraton Corporation, Director Caesars World, Inc., Director Madison Square Garden, Director National Basketball Assoc., Director Dow Jones & Company, Director Dayton Hudson Corporation, Director Shell Oil Company, Director ITT Educational Services, Inc., Director Rayonier, Inc., Director Alcatel Alstom of France, Director Council for United States and Italy, Co-Chairman The Business Council The Business Roundtable Trilateral Commission New York Zoological Society, Trustee Salk Institute, Trustee

Rand V. Araskog - A Shell director since 1987, Mr. Araskog is the retired Chairman and CEO of ITT Corp. A 32-year veteran of ITT, Mr. Araskog was the catalyst in the 1995 separation of ITT into three individual publicly traded companies.

From Library Journal:

Araskog, Minnesota farm boy who became CEO of ITT, provides an in-depth look at recent tumultuous events (1980-87) in the company's history. Racked by burdening debt, ITT became a ripe candidate for corporate raiders. Araskog details his fending off of the raiders and his bold moves to pull off a badly needed joint venture with French telecommunications giant CGE. The players involved are obviously very important to the narrative, but their relative obscurity makes it difficult to hold the reader's attention. Araskog writes fairly well, but his prose will not stimulate anyone who does not already have a burning interest in ITT. Throughout the text, he also makes stinging indictments of insider trading and lists steps to correct what he sees as a real threat to healthy and sociologically sound business entities. For large subject collections.
- David M. Turkalo, Social Law Lib., Boston
Copyright 1989 Reed Business Information, Inc.

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