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Illinois Tool Works Inc. (ITW) is a global manufacturer specializing in a diverse range of industrial products and equipment, organized into seven distinct segments . The company serves various markets, contributing to its overall revenue through these segments. ITW's offerings include components and fasteners for automotive applications, commercial food equipment, testing and measurement tools, welding equipment, engineered adhesives, construction fastening systems, and niche market products like beverage packaging equipment .
- Automotive OEM - Supplies components and fasteners for automotive applications, primarily serving original equipment manufacturers and tier markets .
- Test & Measurement and Electronics - Produces equipment and consumables for testing and measuring materials and structures, serving diverse markets including electronics and automotive .
- Food Equipment - A leader in commercial food equipment, serving food service, retail, and institutional markets with products like warewashing and cooking equipment .
- Construction Products - Offers fastening systems and solutions for construction markets .
- Welding - Manufactures arc welding equipment and consumables for industrial applications .
- Polymers & Fluids - Provides engineered adhesives, sealants, and fluids for niche markets .
- Specialty Products - Focuses on niche markets with products like beverage packaging equipment and appliance components .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christopher A. O'Herlihy ExecutiveBoard | President & CEO | Director at Masco Corporation | Joined ITW in 1989. Held roles including Vice Chairman and EVP of Food Equipment. Became CEO on Jan 1, 2024. Key contributor to ITW's Enterprise Strategy and 2030 performance goals. | View Report → |
Axel R.J. Beck Executive | Executive Vice President | None | EVP since 2020. Previously Group President of Food Equipment. Led 6.3% organic growth in Food Equipment over three years. | |
Guilherme Silva Executive | Executive Vice President | None | EVP since 2024. Previously Group President of Test & Measurement and Electronics Businesses and Polymers & Fluids Businesses. | |
Javier Gracia Carbonell Executive | Executive Vice President | None | EVP since 2022. Previously Group President of Construction Businesses and VP/GM of Construction Businesses. | |
Jennifer K. Schott Executive | Senior Vice President, General Counsel & Secretary | None | Joined ITW in 2021. Previously held legal leadership roles at Caterpillar and Discover Financial Services. | |
Mark A. Thibeault Executive | Executive Vice President | None | EVP since 2025. Previously Group President and VP/GM of Test & Measurement and Electronics Businesses. | |
Mary K. Lawler Executive | Senior Vice President & Chief HR Officer | None | Serving as CHRO since 2014. No additional roles or achievements detailed in the documents. | |
Michael M. Larsen Executive | Senior Vice President & CFO | None | Joined ITW in 2013 as CFO. Oversees financial operations. No external roles mentioned. | |
Patricia A. Hartzell Executive | Executive Vice President | None | EVP since 2022. Previously Group President and VP/GM of Test & Measurement and Electronics Businesses. | |
Randall J. Scheuneman Executive | Vice President & Chief Accounting Officer | None | Serving as CAO since 2009. No additional roles or achievements detailed in the documents. | |
Sharon A. Szafranski Executive | Executive Vice President | None | EVP since 2020. Previously Group President and VP/GM of Test & Measurement and Electronics Businesses. | |
T. Kenneth Escoe Executive | Executive Vice President | None | EVP since 2020. Previously Group President and VP/GM of Specialty Products Businesses. | |
Daniel J. Brutto Board | Director | Director at Sysco Corporation | ITW director since 2012. Former President of UPS International. Extensive global operations experience. | |
Darrell L. Ford Board | Director | None | ITW director since 2021. EVP and CHRO at UPS. Extensive human capital management expertise. | |
Jaime Irick Board | Director | None | ITW director since 2024. Former SVP at PPG Industries and President of Life Fitness Division at Brunswick Corporation. | |
James W. Griffith Board | Director | None | ITW director since 2012. Retired CEO of The Timken Company. Extensive manufacturing and governance expertise. | |
Jay L. Henderson Board | Director | Director at The J.M. Smucker Company and Northern Trust Corporation | ITW director since 2016. Retired Vice Chairman of PwC. Extensive audit and governance expertise. | |
Kelly J. Grier Board | Director | None | ITW director since 2022. Former US Chair and Managing Partner (CEO) of Ernst & Young LLP. | |
Pamela B. Strobel Board | Director | Director at State Farm Mutual Automobile Insurance Company | ITW director since 2008. Retired EVP and CAO of Exelon Corporation. Extensive legal and risk management expertise. | |
Richard H. Lenny Board | Independent Lead Director | Non-Executive Chairman of Conagra Brands; Director at McDonald’s Corporation | ITW director since 2014. Former Chairman, President, and CEO of Hershey. Extensive governance and strategy expertise. | |
Susan Crown Board | Director | Chairman and CEO of Owl Creek Partners; Director at Northern Trust Corporation | ITW director since 1994. Extensive governance and leadership experience. Founder of Susan Crown Exchange. |
- Given that the Specialty segment is a collection of disparate businesses with limited growth in recent years, what specific actions are you taking to streamline this segment and ensure sustainable margin expansion over the long term?
- With your long-term growth target of 4% to 7%, and 2 to 3 percentage points expected from customer-back innovation, how confident are you in achieving this ambitious goal, especially considering past contributions were lower?
- Considering the negative 2% organic growth in North America and declines in key segments like Welding and Polymers & Fluids, how are you addressing the underlying demand challenges beyond destocking effects?
- Your operating margin guidance has increased by 165 basis points on flat organic growth; can you break down the key drivers of this improvement and explain how much is sustainable in the current market environment?
- In light of your strategic repositioning and potential for product line pruning, are there any plans to divest underperforming assets within the Specialty segment to further optimize your portfolio?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
The Welding segment competes globally with this company, which is mentioned as a key competitor in the welding equipment and consumables market. | |
This company is identified as a global competitor in the Welding segment, which includes arc welding equipment and consumables. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Unnamed Acquisition – Test & Measurement & Electronics (April 1) | 2024 | The acquisition was completed on April 1, 2024 for $59 million, net of cash acquired, supporting a strategy of selective high-quality growth, with closing adjustments and purchase price allocation to be finalized within a year. |
Unnamed Acquisition – Test & Measurement & Electronics (January 2) | 2024 | Completed on January 2, 2024 for $57 million, net of cash acquired, this acquisition aligns with the company’s long-term growth strategy, contributed to revenue growth in its segment, and had a 50 basis point dilutive impact on operating margin in Q1 2024. |
MTS Systems Corporation – Test & Simulation Business | 2021 | ITW acquired the Test & Simulation business for $750 million as part of a strategic move to bolster its Test & Measurement offerings, integrating a complementary business through an agreement initiated after Amphenol’s acquisition of MTS, with expected closing in mid-2021 following customary regulatory approvals. |
No recent press releases or 8-K filings found for ITW.