Winnetka Resident, Illinois Tools Works CEO Dies at 61
David Speer, a Glenview business owner, passed away on Saturday, November 17.
David B. Speer, 61, passed away on Saturday after batting cancer, according to Glenview.Suntimes.com. The longtime chairman and CEO of Illinois Tool Works Inc. has been on medical leave from the Glenview-based industrial equipment maker since October, Chicago Tribune reported. Speer was replaced by E. Scott Santi as CEO, and Robert Morrison as nonexecutive board chairman, according to the News Gazette. The Winnetka resident joined ITW in 1978 and was elected CEO in 2005. A year later Speer became board chairman, The News-Gazette reported. ITW stock outperformed the broader market while Speer served as CEO, during that time the company’s revenue also grew about 40 percent, to about $18.2 billion, Crain’s Chicago Business reported. Born…
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