Rand Araskog, ITT CEO Who Disassembled Conglomerate, Dies at 89

Rand Araskog, the chief executive officer who strategically disassembled the maze of companies accumulated by International Telephone & Telegraph Corp. as it became the quintessential ravenous conglomerate of the 1960s and 1970s, has died. He was 89.

He died Monday at his home in Palm Beach, Florida, according to the Wall Street Journal. No cause was given.

Rand Araskog at an event in New York in 2006.

Photographer: Patrick McMullan/Getty Images

ITT, under Harold Geneen, bought more than 350 businesses from 1960 to 1977, striking deals at a pace that reached one per week and transforming what had long been an international telephone company. Araskog was part of team Geneen, joining ...