Exelis becomes publicly traded company
- October 31, 2011
Exelis Inc. announced has completed its spinoff from ITT Corp. and will begin trading on the New York Stock Exchange Nov. 1 under the ticker symbol XLS.
The McLean-based company, which has 21,000 employees and an estimated annual revenue of $5.9 billion, is part of ITT’s decision to split itself into three separate firms. Exelis was formed from the White Plains, N.Y., corporation’s ITT Defense and Information Solutions business.
“Our new corporate autonomy and streamlined structure make us even more nimble in anticipating, reacting and responding to customers’ evolving needs with affordable, ready-now solutions,” said ITT Exelis CEO and President David Melcher, who led ITT Defense and Information Solutions.