Bağımsız Güncel Son Dakika Haber Sitesi

Rand V. Araskog, Former Chief of ITT Corp., Dies at 89

Rand V. Araskog, who as chief executive of the ITT Corporation in the 1980s and ’90s successfully refocused an unwieldy conglomerate that at …

Rand V. Araskog, who as chief executive of the ITT Corporation in the 1980s and ’90s successfully refocused an unwieldy conglomerate that at various points ran the Sheraton hotel chain, owned the New York Knicks and Rangers and made Wonder Bread, died on Aug. 9 at his home in Palm Beach, Fla. He was 89.

His death was confirmed by his daughters, Kathleen Araskog Thomas and Julie K. Araskog. No cause was given.

A West Point graduate who worked at the Department of Defense before pursuing a career in business, Mr. Araskog took the helm of ITT in 1979, when the company, then known as the International Telephone and Telegraph Corp., was the 11th largest industrial concern in the United States, with $19.4 billion in annual sales (in today’s dollars about $73 billion, putting it on a par with IBM and Procter & Gamble). Its global holdings included pulp mills, baking companies, a large network of hotels as well as financial services and telecommunications and electronics operations.

Over two decades Mr. Araskog whittled down ITT to a group of core units and reduced the company’s $5 billion debt load, in part by selling off some 250 companies, which he referred to in his book “The ITT Wars: An Insider’s View of Hostile Takeovers” (1989) as “redundant, unprofitable, or just plain odd acquisitions.”

It was a reversal of the strategy pursued by his predecessor, Harold S. Geneen, who had built the company into the massive conglomerate that it was. Mr. Araskog ultimately zeroed in on the hotel, gaming and entertainment businesses, which included Sheraton hotels and a large stake in Madison Square Garden, which owns the Knicks and Rangers in New York.

A meticulous, hands-on manager, he distributed ownership of 11 percent of the company among its employees.

Mr. Araskog fended off hostile takeovers, even resisting one that would have paid him handsomely. On more than one occasion, though, the company became a potential target of corporate raiders like Jay Pritzker, who built the Hyatt hotel chain, and the billionaire Philip F. Anschutz. To ward off those efforts, Mr. Araskog cut costs through layoffs and additional divestments. The experience left him embittered about the merger and takeover mania of the 1980s.

“There was a single-mindedness in their pursuit of profit,” he wrote of corporate raiders in “The ITT Wars.” “They seemed to be motivated by the idea of playing a game, and devil take the resulting damage and disruption.”

Randolph Vincent Araskog was born on Oct. 30, 1931, in Fergus Falls, Minn., a small city in the west-central part of the state. His parents, Randolph Araskog, the local tax collector, and Hilfred (Swanson) Araskog, operated a small dairy farm.

Mr. Araskog graduated from West Point in 1953, then attended the Harvard Graduate School of Arts and Sciences, studying Russian, before joining the Defense Department. He spent five years at the Pentagon, working in the office of the secretary of defense; the last two years were spent as a special assistant to the director of the nation’s nascent space program.

In 1955, Mr. Araskog proposed to Jessie M. Gustafson, who was studying library science and education at Gustavus Adolphus College in St. Peter, Minn. It was their first date, and another couple was in the car with them at the time.

In a phone interview, Ms. Araskog recalled being incredulous at her future husband’s quick proposal and seeking her mother’s advice. “He asked me to marry him — should I believe him?” she remembered telling her. “And my mother said, ‘I wouldn’t believe him if I were you.’”

But Ms. Araskog said yes, and the couple were married on July 29, 1956.

In 1960, Mr. Araskog took a job at the industrial giant Honeywell in Minneapolis. He worked in marketing and planning in the aeronautic division before joining ITT in 1966. At ITT he held senior positions in the company’s defense, aeronautics and telecommunications divisions before being named chief operating officer in 1978.

The next year a boardroom shake-up resulted in the ouster of his predecessor, and he was named chief executive. He was named chairman in 1980.

Mr. Araskog served on a number of corporate boards, including those of Dow Jones, Royal Dutch Shell and Target. As a philanthropist he donated money to, among other organizations, West Point, the Memorial Sloan Kettering Cancer Center in New York and the Henry Street Settlement, a social services organization in Manhattan.

After retiring from ITT in 1998, Mr. Araskog opened his own investment firm in Palm Beach.

In addition to his wife and daughters, he is survived by his son, William, and eight grandchildren.

Mr. Araskog, an Episcopalian who attended church every Sunday, was also a family man. He routinely brought his wife along on business trips and joked that she was ITT’s second chief executive.

But his professional fastidiousness could sometimes come into conflict with his family life. Mr. Araskog would hold morning meetings in an ITT conference room at exactly 9 a.m., and then lock the door to any stragglers. One morning before he left for work, the family puppy shook its wet coat onto Mr. Araskog’s business suit, forcing a change of clothes and making him late for the meeting, as his daughter Ms. Thomas recalled. When he arrived, the door was locked.

“He had such a good laugh about that,” she said.

BU KONUYU SOSYAL MEDYA HESAPLARINDA PAYLAŞ
ZİYARETÇİ YORUMLARI

Henüz yorum yapılmamış. İlk yorumu aşağıdaki form aracılığıyla siz yapabilirsiniz.

BİR YORUM YAZ
bahçe dekorasyonu evde ek gelir eskişehir haber sondakika haberleri magazin haberleri seo sorgulama site analiz seo analiz google sıra bulucu backlink sorgulama sunucu tarama çekiliş çekiliş sitesi Who is html kod şifreleme seo hacklink hacklink satış hacklink panel wordpress ücretsiz tema wordpress free themes wordpress free tema wordpress themes wordpress hacklink al kilo verme wso shell php shell hacklink hacklink panel hızlı seo hacklink seo nedir wso shell instagram takipçi hilesi instagram takipçi hilesi
bahçe dekorasyonu evde ek gelir eskişehir haber sondakika haberleri magazin haberleri seo sorgulama site analiz seo analiz google sıra bulucu backlink sorgulama sunucu tarama çekiliş çekiliş sitesi Who is html kod şifreleme seo hacklink hacklink satış hacklink panel wordpress ücretsiz tema wordpress free themes wordpress free tema wordpress themes wordpress hacklink al kilo verme wso shell php shell hacklink hacklink panel hızlı seo hacklink seo nedir wso shell
hacklink satışbacklink satışsite analizseo analizseo araclarıbacklinkcialis jelcialis fiyatlifta 20 mgviagra satın alviagra 100 mg fiyatviagra siparişcialis 5 mg fiyatsertleştirici haplarlifta hapkayganlaştırıcıbayan azdırıcıpenis büyütücülergeciktiricilerereksiyon haplarıpenis sertleştirici haplarpenis büyütme ürünlerisertleştirici ereksiyon haplarısancaktepe escorteskisehir escortalpu escortizmir escortankara escortmersin escorteskişehir escortgaziantep escortsakarya escortkayseri escortantalya escortistanbul escortbursa escortadana escortadıyamanescortafyon escortağrı escortaksaray escortartvin escortaydın escortamasya escortardahan escortbalıkesir escortbartın escortbatman escortbayburt escortbilecik escortbingöl escortbitlis escortbolu escortburdur escortçanakkale escortçankırı escortçorum escortdenizli escortdiyarbakır escortdüzce escortedirne escortelazığ escorterzincan escorterzurum escortgiresun escortgümüşhane escorthatay escortığdır escortısparta escortmaraş escortkarabük escortkars escortkastamonu escortkilis escortkırıkkale escortkırklareli escortkırşehir escortkocaeli escortkonya escortkütahya escortmalatya escortmanisa escortmardin escortmuğla escortmuş escortnevşehir escortniğde escortordu escortosmaniye escortrize escortsamsun escorturfa escortsiirt escortuşak escortsinop escortşırnak escortsivas escorttekirdağ escorttokat escorttrabzon escorttunceli escortvan escortyozgat escortyalova escortzonguldak escortkıbrıs escortpendik escortesenyurt escortzeytinburnu escortküçükçekmece escortbeşiktaş escorttuzla escortbeykoz escortfatih escortsancaktepe escortarnavutköy escortbağcılar escortümraniye escortbeyoğlu escortüsküdar escortesenler escortmecidiyeköy escortsarıyer escortetiler escortlevent escortbebek escortgaziosmanpaşa escortkartal escortbaşakşehir escortşişli escorthalkalı escortbahçelievler escortortaköy escorteyüp escortbahçeşehir escortkağıthane escorttaksim escortçekmeköy escortsultançiftliği escortşaşkınbakkal escortbayrampaşa escortbeylikdüzü escortkadıköy escortataşehir escortbakırköy escortmerter escortataköy escortnişantaşı escortkozyatağı escortavcılar escortbüyükçekmece escortkurtköy escortiçerenköy escortküçükyalı escortbostancı escortşirinevler escorterenköy escortadana escortadıyaman escortafyon escortağrı escortaksaray escortamasya escortankara escortantalya escortardahan escortartvin escortaydın escortbalıkesir escortbartın escortbatman escortbayburt escortbilecik escortbingöl escortbitlis escortbolu escortburdur escortbursa escortçanakkale escortçankırı escortçorum escortdenizli escortdiyarbakir escortdüzce escortedirne escortelazığ escorterzincan escorterzurum escorteskişehir escortantep escortgiresun escortgümüşhane escorthakkari escorthatay escortığdır escortistanbul escortizmir escortkarabük escortkaraman escortkars escortkastamonu escortkütahya escortkayseri escortkıbrıs escortkilis escortkırıkkale escortkırklareli escortkırşehir escortkocaeli escortkonya escortmalatya escortmanisa escortmaraş escortmardin escortmersin escortmuğla escortmuş escortnevşehir escortniğde escortordu escortosmaniye escortrize escortsakarya escortsamsun escortsiirt escortsinop escortçorlu escortçerkezköy escortsivas escortmanisa escortizmir escorthatay escorterzurum escortbalikesir escorturfa escorttrabzon escorttekirdag escortsamsun escortsakarya escortordu escortmugla escortmersin escortmardin escortmaras escortmalatya escortkonya escortkocaeli escortkayseri escorteskisehir escortdiyarbakir escortdenizli escortbursa escortaydin escortantep escortankara escortadana escortkuvvet macunusertleştirici macunyapay kızlık zarısertleştirici ilaçlarserleşme haplarısertleştirici ereksiyon ilaçlarıereksiyon haplarıvajina daraltıcı kremeczane ereksiyon ilaçlarıpenis sertleştiricihacklinkwordpress ücretsiz temahacklink seowso shellwso shellwso shellhtml code encryptionhtml kod şifrelemeinstagram takipçi hilesiçekiliş sitesiserver scansunucu taramasite speed testsite hız testiseo newsgoogle newssite analysisseo analysisbacklink saleshacklink panelwordpress themeswordpress free temaWordpress Free Themeshtml kod şifrelemeWho isbacklink alsunucu taramapubg hile alTanıtım Yazısıseoseo sorgulaseo sorgulamaBest Gaming Monitorswireless earbudsshapermint bra reviewsBest Dog Crateraycon reviewsbest stethoscopeinstagram beğeni hilesiinstagram unfollowinstagram takipci satın alinstagram Followers Freeinsagram Free Followerssmm panelsmm panelinstagram takipci hilesiinstagram Followersinstagram free likesinstagram takipci hilesiinstagram takipci hilesiinstagram takipci hilesiinstagram takipci hilesibomonti escortgültepe escortbursa escortnisantasi escorttaksim escortkurtkoy escort bayanpendik escort bayantatto girlsoyun indirmakale programımeme küçültmeinstagram takipçi hilesibacklink albacklink satıştempobet1xbetrotabetjojobetsekabetbetisttempobet1xbetmobilbahisperabetmarsbahissuperbetincratosslotpaykwikastropaytempobetbetbooelexbetsultanbetbaymavicasinomaxirestbetsafirbetsafirbettempobetbetebet canliAntalya Escortdidim escortkadın newskadına özelworld newssex hikayeizmir escortmersin escortataşehir escortataşehir escortbeşiktaş escortesenler escortesenyurt escortfatih escortkadıköy escortkartal escortmaltepe escortpendik escortsarıyer escortpendik escortmaltepe escortkartal escortkadıköy escorttaksim escortsilivri escortşişli escortbağcılar escortbursa escortantalya escortankara escortadana escortgaziantep escortseo analysisistanbul escortviagra satın alviagra fiyatıdegrawso shellpendik escortc99 shelladana escortcanlı bahisadana eskortnevşehir escortbedava bonus veren bahis siteleribedava bonusdeneme bonusu30 tl bonus veren bahis sitelerihoşgeldin bonususex hikayeleriTürkçe Bahis Şirketlericanlı bahiskaçak iddaabahisbahis sitelerihoşgeldin bonusu veren bahis siteleriporno hikayeleristanbul escortc99 shellr57 shellbypass shellwebroot shellpendik escortvigrandedegra 100 mgorcafilcialis nedircialis 20 mg eczane fiyatıcialis fiyatcialis 20 mgcialis 100 mgviagra fiyatliftalifta 5 mghardciscialis eczanecialis 5 mg fiyatıcialis 100 mg fiyatcialis 5 mgviagra fiyatlarıviagra satışonline eczane viagraviagra eczanecialis 20 mgcialis 100 mgcialis hapcialis 20cialis eczanecialis satışcialis fiyatlarıcialis fiyatıviagra fiyatviagra fiyatlarıviagra eczaneviagra satın alpfizer viagra satışonline eczane viagrapfizer viagra satın alviagra siparişviagra sipariş hattıviagra fiyat 2021online viagra siparişviagra fiyat 2021 eczaneviagra fiyat eczaneankara escortAnkara escort kızlarEscort ankaraankara escort bayanSincan escortSincan escort bayanEryaman escortEscort eryamanEscort sincanEtlik escortEtlik escort bayanKızılay escortantalya escortantalya escort bayanantalya escort bayanantalya escortankara escort bayanKeçiören escort bayanEscort ankaraKızılay escort bayanEryaman escort bayanEscort antalyaÇankaya escortEscort antalyaKeçiören EscortÇankaya escort bayanankara escortAnkara rus escortankara escortankara escortkartal escortcialis 5 mgkamagra satın alkamagrakamagra jelkamagra jel siparişkamagra siparişkamagra fiyatkamagra jel fiyatıkamagra fiyatıkamagra 100mgkamagra 100mg fiyatsüper kamagrakamagra nedirpendik escortkurtkoy escorttuzla escortkayseri escortmozrankGamelooplogsuz shell indirlitespeed bypass shellindoxploit shellphp shellgoogle sıra buluculitespeed bypass shellbacklink sorgulamaeryaman escortistanbul bayan escorthacklink satışbacklink satışhacklink panelhacklinkbingöl escorteskişehir escortkırklareli escortçekmeköy escortsultangazi escortbodrum escortkuşadası escortc99 shellc99 shelllifta 20 mgliftalifta 20lifta 20 mg nedirlifta nedirhacklink seokarşıyaka escortbuca escortalsancak escortkonak escortkuşadası escortbeylikdüzü escortgöztepe escortbornova escortçeşme escort