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ITT (ITT) shifts finance leadership as Caprais exits, Savinelli steps in as interim CFO

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

ITT Inc. reported that Chief Financial Officer Emmanuel Caprais will leave the company for personal reasons after nearly 14 years, effective May 8, 2026. The company states his departure does not arise from any disagreement over operations, policies or practices.

Caprais will remain as a business advisor to the CEO through July 1, 2026 to support a smooth transition. Effective May 8, 2026, Michael J. Savinelli, currently Vice President, Treasurer, Chief Tax Officer & Assistant Secretary, will serve as interim Chief Financial Officer while a search for a permanent successor is conducted.

Savinelli’s salary, bonus, equity awards and benefits will remain consistent with his prior senior role. In connection with his interim appointment, the Board granted him $300,000 of restricted stock units under the Omnibus Equity Incentive Plan, and he will receive a $25,000 monthly cash stipend during his interim CFO service.

Positive

  • None.

Negative

  • Chief Financial Officer departure: Long-serving CFO Emmanuel Caprais will leave effective May 8, 2026, which introduces senior finance leadership change even though the company cites personal reasons and no disagreement over operations or policies.

Insights

ITT announces CFO transition with internal interim successor and defined short-term incentives.

ITT Inc. is managing a CFO change by elevating long-serving executive Michael J. Savinelli as interim Chief Financial Officer after Emmanuel Caprais departs for personal reasons. The company explicitly states there is no disagreement over operations, policies or practices, which reduces governance concern.

The transition includes a structured handover period through July 1, 2026, during which Caprais will advise the CEO. Savinelli’s pay largely matches his prior seniority, with added incentives of $300,000 in restricted stock units and a $25,000 monthly stipend. These are modest for a top finance role and tied to temporary added responsibilities.

From an oversight perspective, using an experienced insider who has been Vice President & Chief Tax Officer since 2011 and Treasurer since 2020 helps continuity. Future disclosures in company reports may provide more detail once a permanent CFO is selected, but this filing centers on an orderly interim arrangement.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
CFO departure effective date May 8, 2026 Date Emmanuel Caprais leaves CFO role
Advisor role end date July 1, 2026 End of Caprais’ advisory period to CEO
Interim CFO RSU grant $300,000 of restricted stock units Granted to Michael Savinelli under Omnibus Equity Incentive Plan
Interim CFO monthly stipend $25,000 per month Cash stipend to Savinelli during interim CFO service
Interim CFO age 55 years Age of Michael J. Savinelli
interim Chief Financial Officer financial
"will serve as interim Chief Financial Officer while a search for a successor is conducted"
An interim chief financial officer is a temporary leader responsible for managing a company's financial activities, such as budgeting, financial planning, and reporting, during a transitional period. Think of it as filling in for a key manager until a permanent replacement is found. For investors, this role is important because it ensures financial stability and clear guidance during times of change or uncertainty.
restricted stock units financial
"the Board of Directors granted Mr. Savinelli $300,000 of restricted stock units under the Company’s Omnibus Equity Incentive Plan"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Omnibus Equity Incentive Plan financial
"restricted stock units under the Company’s Omnibus Equity Incentive Plan"
A single, company-wide plan that lets a business grant different kinds of stock-based pay — such as stock options, shares that vest over time, or other equity awards — to employees, directors and consultants. It matters to investors because it determines how much of the company can be paid out in shares, how quickly those shares enter the market, and how well employees are motivated to grow the business; think of it as a toolbox or menu for paying with ownership stakes that can dilute existing holders and affect company performance.
Item 404(a) of Regulation S-K regulatory
"any transaction that would be required to be reported under Item 404(a) of Regulation S-K"
emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

Why is ITT (ITT) Chief Financial Officer Emmanuel Caprais leaving the company?
Emmanuel Caprais is leaving ITT for personal reasons after nearly 14 years of service. The company states his departure is not due to any disagreement about ITT’s operations, policies, or practices, and he will temporarily advise the CEO to ensure a smooth transition.

When will ITT (ITT) CFO Emmanuel Caprais step down, and how long will he advise the company?
Emmanuel Caprais will step down as Chief Financial Officer on May 8, 2026. He will remain with ITT as a business advisor to the Chief Executive Officer through July 1, 2026, helping maintain continuity during the search for a permanent successor.

Who is ITT (ITT) appointing as interim Chief Financial Officer and what is his background?
ITT is appointing Michael J. Savinelli as interim Chief Financial Officer effective May 8, 2026. He has served as Vice President & Chief Tax Officer since 2011 and Treasurer since 2020, with prior senior tax roles at Terex, GE Capital, PepsiCo and earlier experience at Ernst & Young.

How will interim CFO Michael Savinelli be compensated at ITT (ITT)?
Michael Savinelli will keep salary, bonus, equity awards and benefits consistent with his prior senior role. In addition, the Board granted him $300,000 of restricted stock units and a $25,000 monthly cash stipend during his service as interim Chief Financial Officer, reflecting added responsibilities.
false000021622800002162282026-05-022026-05-02

 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: May 2, 2026
(Date of earliest event reported)
 ITT INC.
(Exact name of registrant as specified in its charter)  
Indiana
001-05672
81-1197930
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
100 Washington Boulevard
6th Floor
Stamford, CT 06902
(Address of principal executive offices) (Zip Code)
(914) 641-2000
(Registrant's telephone number, including area code)

Not Applicable
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, par value $1 per share
ITT
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).                                                 Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 6, 2026, ITT Inc. (the “Company”) announced that Emmanuel Caprais, the Company’s Chief Financial Officer, would leave the Company for personal reasons after almost 14 years of service, effective May 8, 2026. Mr. Caprais’ departure is not the result of any disagreement between Mr. Caprais and the Company with respect to any matter relating to the Company’s operations, policies or practices.

Mr. Caprais will continue as a business advisor reporting to the Chief Executive Officer through July 1, 2026 to support a seamless transition, after which time he will depart from the Company. Mr. Caprais’ compensation in this new role will be materially consistent with his prior compensation. The Company thanks Mr. Caprais for his dedication and many years of service to the Company in various Finance roles.

Effective May 8, 2026, Michael J. Savinelli, Vice President, Treasurer, Chief Tax Officer & Assistant Secretary, will serve as interim Chief Financial Officer while a search for a successor is conducted. Mr. Savinelli, age 55, has served as the Company’s Vice President & Chief Tax Officer since 2011 and as Treasurer since 2020. Prior to joining the Company, Mr. Savinelli held senior tax leadership roles at Terex, GE Capital and PepsiCo, and has prior experience at Ernst & Young LLP. He holds an LL.M. in Taxation from New York University School of Law, a J.D. from Quinnipiac University School of Law, and a B.S. in accounting from Fairfield University. He also holds law licenses in New York and Connecticut, as well as a Certified Public Accountant license in Connecticut. Neither Mr. Savinelli nor any member of his immediate family members is a party, either directly or indirectly, to any transaction that would be required to be reported under Item 404(a) of Regulation S-K, nor is Mr. Savinelli a party to any arrangement or understanding under which he was selected to serve as an officer in an interim capacity.

Mr. Savinelli will receive salary, bonus and equity awards at levels that are consistent with his seniority and position prior to his appointment as interim Chief Financial Officer. He also will continue to receive health, welfare and retirement benefits at levels that are generally available to salaried employees. In connection with this appointment, the Board of Directors granted Mr. Savinelli $300,000 of restricted stock units under the Company’s Omnibus Equity Incentive Plan. Mr. Savinelli will also receive a monthly cash stipend of $25,000 during his service as interim Chief Financial Officer.



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
ITT Inc.
(Registrant)
May 7, 2026
By:
/s/ Lori B. Marino
Name:
Lori B. Marino
Title:
Senior Vice President, Chief
Legal Officer and Corporate
Secretary
(Authorized Officer of Registrant)


Source: View Original Filing on SEC EDGAR

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