GLENVIEW, Ill. Illinois Tool Works Inc. (ITW) has promoted Vice Chairman E. Scott Santi to president and chief operating officer. In addition, Santi has been appointed acting CEO, effective immediately.
Santi’s appointment as acting CEO follows the decision by Chairman and CEO David Speer to take a leave of absence in order to fully focus on his health. As disclosed on Nov. 10, 2011, Speer has been undergoing treatment for a medical condition.
ITW’s lead director, Robert Morrison, will serve as acting non-executive chairman of the board, effective immediately.