In his new role Courtois, who was previously a director of Merrill's ITWS business in charge of bespoke trust and fiduciary products, replaces Kevin Horrocks, who has recently left the firm.
Merrill's ITWS consists of a number of subsidiary trust businesses that provide inter-generational wealth-transfer services.
De Villemejane is young (40) and coming off a heart-pounding triumph, having led Speedline's turnaround from a money-leaking orphan within Cookson Electronics into a thriving enterprise (I estimate its sales were in the neighborhood of $200 million last year) purchased in 2006 by conglomerate ITW. He is an extraordinarily personable and approachable executive.
While I would bet dollars to donuts ITW replaces de Villemejane with an indoctrinated disciple of its battle-tested 80/20 formula, I am seeing the makings of a modest trend away from the finance manager-turned-chief executive toward engineers running OEMs again.
The FAA is planning to install 34 ITWS
systems to provide coverage to 45 major airports which experience severe weather conditions.
Current FAA plans call for the installation of 34 ITWS systems to provide coverage for 45 major airports that experience severe weather conditions.
ITWS provides automated weather information for use by air traffic controllers and supervisors in airport terminal airspace (60-mile radius).
is a complete unit for software development and learning.
Through the continued execution of its strategy, ITW expects to deliver the following performance goals by the end of 2018 and beyond: Organic growth at 200 basis points or more above market; 25+ percent operating margin (previously 23+ percent); 20+ percent after-tax Return on Invested Capital; Free cash flow of 100+ percent of net income; and
ITW also initiated 2017 guidance at the event and expects earnings per share to be in the range of $6.00 to $6.20, up 9 percent year-over-year at the midpoint, as well as organic growth between 1.5 to 3.5 percent.
Following the release, ITW
will hold its third quarter earnings conference call at 9 a.m.
), is a Fortune 200 multinational manufacturer, located in Glenview, Illinois.