Illinois Tool Works CEO David Speer passes away; Scott Santini elected CEO ITW is deeply saddened to announce that ITW Chairman & CEO David B. Speer has passed away after an illness. Effective immediately, E. Scott Santi, 51, has been elected CEO to succeed Mr. Speer. He has also been elected to ITW's board of directors. Mr. Santi was elected president and chief operating officer in October. At that time, he also was named acting chief executive officer in light of Mr. Speer's medical leave. Robert S. Morrison, 70, has been elected non-executive chairman of the board of directors. He was named acting non-executive chairman in October and has been an independent director since 2003.