Illinois Tool Works Inc. (ITW)

About Illinois Tool Works Inc. (ITW)

Company Description:


Illinois Tool Works Inc., more commonly known as ITW, is a global company specializing in a diversified range of industrial products and equipment. The company operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.

Founded in 1912 by Byron L. Smith, ITW has grown into a leading manufacturer of specialized industrial equipment, consumables, and related service businesses. The company is headquartered in Glenview, Illinois, United States.


Main Product(s):


ITW designs and manufactures fasteners, components, equipment, consumable systems, and a variety of specialty products and equipment. Their broad range of products serves customers in various industries and markets.


Short History of Illinois Tool Works Inc.:


  • 1912 – Founded by Byron L. Smith.
  • 1915 – ITW's first major product, a gear-driven speed reducer, was introduced.
  • 1980s – Began a series of international expansions and acquisitions.
  • 1990s – Diversified its portfolio, focusing on innovative engineering.
  • 2015 – Initiated an enterprise strategy focused on leveraging ITW's unique business model.
  • Recent Years – Continued focus on organic growth, operational excellence, and strategic acquisitions.

Key Executives:

NameTitlePayExercisedYear Born
Mr. E. Scott SantiChairman & CEO8.93M19.82M1962
Mr. Michael M. LarsenSenior VP & CFO3.59M5.13M1969
Ms. Mary Katherine LawlerSenior VP & Chief Human Resources Officer1.91MN/A1966
Mr. Christopher A. O'HerlihyVice Chairman3.74MN/A1964
Mr. Michael R. ZimmermanExecutive Vice President of Polymers & Fluids1.46MN/A1961
Mr. Randall J. ScheunemanVP & Chief Accounting OfficerN/AN/A1968
Ms. Karen A. FletcherVice President of Investor RelationsN/AN/A1960
Ms. Jennifer Kaplan SchottSenior VP, General Counsel & SecretaryN/AN/A1974
Mr. Kenneth T. EscoeExecutive Vice President of Specialty ProductsN/AN/A1976
Mr. Axel R. J. BeckExecutive Vice President of Food EquipmentN/AN/A1966

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