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Article: As ITW names new No. 2, firm goes shopping again.(People)(Illinois Tool Works Inc.,)
- Article from:
- Crain's Chicago Business
- Article date:
- August 30, 2004
- Author:
CopyrightCOPYRIGHT 2004 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: H. LEE MURPHY
David Speer steps into the role of CEO-apparent at Illinois Tool Works Inc., as the Glenview manufacturer is revving its acquisition engines again.
Illinois Tool Works named Mr. Speer, 53, president earlier this month, setting him up to succeed Chairman and CEO W. James Farrell, 62, when Mr. Farrell retires in 2006.
"David will play a pivotal role in the succession planning,'' the company said in a statement.
Illinois Tool Works plucked the 25-year company veteran from among eight executive vice-presidents who oversee its disparate collection of 600 business lines. Since 1995, Mr. Speer has run the construction ...