ITT's value champion

CEO Lou Giulaino is

moving on sevral

fronts to make ITT

Industries into what

he

multi-industry

company."

A different kind of

Six Sigma is a

results star so far.

ALTHOUGH IT CARRIES THE HISTORIC ITT ticker symbol on The New York Stock Exchange, the company Louis J. Giuliano heads is not the company that you think you know.

This ITT is not the owner of Sheraton hotels. They were spun off in a 1995 corporate redistribution. Nor is it the ITT of the 1960s and 1970s, a rogue multinational that, among other things, is alleged to have helped destabilize the socialist government of Chilean President Salvadore Allende.

ITT has changed since then. A lot. And with value as his watchword, Giuliano is driving change apace at today's ITT. Value is an active adjective, a goal, an operating principle and a performance measure at the six-year-old, $4.7 billion, 42.000-employee, White Plains, N.Y.-based diversified engineering and manufacturing company. And one of the shiniest links in Giuliano's "value" chain at ITT Industries Inc., as the company is formally known, is a different kind of change agent dubbed Value-Based Six Sigma.