Rand Araskog

Rand Vincent Araskog (October 31, 1931 – August 9, 2021) was an American manufacturing executive, investor, and writer who was the CEO of ITT Corporation. During his time as the CEO between 1979 and 1998 he was known for divesting the conglomerate of multiple businesses including hotels, rental cars, and insurance to retain its focus on its core telecom businesses.

Early life Rand Vincent Araskog was born on October 30, 1931, in Fergus Falls, Minnesota in a family of Swedish descent. His father was a tax collector and a dairy farmer in the town. where he graduated in 1953, majoring in Soviet studies. He graduated from Harvard University majoring in Russian studies

Career Araskog started his career working for the Defense Department at the Pentagon and the National Security Agency from where he was sent to work in Europe. Upon his return to the U.S., he left the Pentagon and worked for Honeywell in 1960 as marketing director in the aeronautical division.

His early years were spent building the group's telecom business, including developing the ITT System 12, an early stage digital telephone exchange, before selling the business to French state-owned company Generale d’Electricite in 1986.

He was later self-employed as a private investor and also acted as principal in RVA Investments and on the Board of Directors of American cable television company Cablevision and the Palm Beach Civic Association.

Personal life Araskog met his wife Jessie Gustafson, when she was studying religion at Gustavus Adolphus College. The couple married in July 1956 and went on to have three children, two daughters and one son. He died on August 9, 2021, at the age of 89 in Palm Beach, Florida.