Rand Araskog

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Rand Araskog
ITT Corporation
SpouseJessie M. Gustafson Araskog
Childrentwo daughters and one son

Rand Vincent Araskog (October 31, 1931 – August 9, 2021) was an American manufacturing executive, investor, and writer who served as the CEO of

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[1] in a family of Swedish descent.[2] His father was a tax collector and a dairy farmer in the town.[3] He was elected as a valedictorian in his school and went on to the United States Military Academy at West Point[4] where he graduated in 1953, majoring in Soviet studies.[3] He graduated from Harvard University majoring in Russian studies[3] and spent a year in West Germany serving at a US Army intelligence post.[3][5]

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.[6] Upon his return to the U.S., he left the Pentagon and worked for Honeywell in 1960 as marketing director in the aeronautical division.[3]

In 1966, he joined

Hostess Twinkies, the company that manufactured Wonder Bread. During this time, he had become the right hand man of then chairman Harold Geneen. The company during this time was under scrutiny for its lobbying efforts in Washington, D.C. and for foreign political interference in Chilean politics. With this background, he became the company's CEO in 1979 succeeding Lyman C. Hamilton. He also became the chairman of the board the same year, succeeding Geneen.[7][8]

His early years were spent building the group's telecom business, including developing the

Starwood Hotel & Resorts Worldwide, Inc. in 1997. He retired from the company in 1998.[3]

Araskog was named an Officer in the French

Legion of Honor in 1987.[9] He has also been awarded the Order of Merit of the Italian Republic by the President of Italy and the Order of Bernardo O'Higgins by the president of Chile.[9] He was awarded an honorary doctorate of humane letters by Hofstra University in 1990.[10]

He was later self-employed as a private investor and also acted as principal in RVA Investments[citation needed] and on the Board of Directors of American cable television company Cablevision[11] and the Palm Beach Civic Association.[9]

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.[12] He died on August 9, 2021, at the age of 89 in Palm Beach, Florida.[3]

For many years, Araskog resided with his family in the gated community of Smoke Rise, located in Kinnelon, New Jersey, a suburb of New York.[13][14][15]

Bibliography

  • Araskog, Rand V. (2000). .
  • Araskog, Rand V. (1989). Dawn Raiders and White Knights: The Inside Story of a Corporation Under Siege. New York: .
  • Araskog, Rand V.; James L. Bikoff (1987). Toward the Year 2000. New York:
    ITT Corporation
    .

References

External links