David Speer, longtime chairman and CEO of Illinois Tool Works Inc. and a member of the Deere & Co. board of directors, has died after a lengthy illness. He was 61.
Mr. Speer was elected to the Deere & Co. board in 2008. He had been on medical leave from ITW since October and was replaced by E. Scott Santi as CEO and Robert Morrison as nonexecutive board chairman, the company said in a statement on Sunday.
Mr. Speer joined the company in 1978 and held a number of sales, marketing and management positions. He was elected CEO in 2005 and became board chairman in 2006.
In addition to his positions with ITW and Deere & Co., Mr. Speer was a trustee of the Chicago Symphony Orchestra and on the board of the Northwestern University, Rush Medical Center, United Way of Chicago, the Chicago Council on Global Affairs, CEOs Against Cancer, Rockwell Automation, the Executives' Club of Chicago and Junior Achievement of Chicago. He is board chairman of the Museum of Science and Industry and the Economic Club of Chicago. He is also a member of The Commercial Club and the Business Council.
Mr. Speer is a graduate of Iowa State University and the Kellogg School of Business at Northwestern University. He has two grown children and one grandson and lived in Winnetka with his wife Barbara. He is survived by his mother and six siblings, including Debbie Ruthhart, of Rock Island.
Today is Friday, July 25, the 206th day of 2014. There are 159 days left in the year.
1864 -- 150 years ago: Walter Jones, of Co, F 23rd Ky, volunteers, lost a satchel on the Camden road, yesterday, containing his papers of discharge from the army. 1889 -- 125 years ago: E. W. Robinson purchased from Mrs. J.T. Miller the livery stable on the triangle south of Market square. 1914 -- 100 years ago: A municipal; bathing beach was advocated at the weekly meeting of the city commission by commissioner Rudgren, who suggested the foot of Seventh Street as an excellent location. 1939 -- 75 years ago: Floyd Shetter, Rock Island county superintendent schools, announced teachers hired for nearly all of the 95 rural and village grade schools in the county. 1964 -- 50 years ago: The mercury officially reached the season's previous high of 95 about noon today and continued upward toward an expected mark of 97. 1989 -- 25 years ago: Fort Armstrong hotel once the wining and dining chambers of Rock Island's elite is under repair. Progress is being made though at a seeming snail's pace to return the building to a semblance of its past glory for senior citizen's homes.