ITT says CFO Minnich steps down

July 19 (Reuters) - ITT Corp. (ITT.N) said George Minnich ceased to be its chief financial officer effective June 30 and will resign as a senior vice president effective July 31, 2007.

In a filing with U.S. regulators, the company said Minnich is eligible for 24 months of severance payments under the terms of his employment. In May, ITT had said Minnich was retiring and would be succeeded by Denise Ramos, CFO of Furniture Brands International (FBN.N).

The manufacturing company, which makes night-vision systems, said Minnich will receive a payment of $515,000 to be paid in a lump sum six months following his termination date. (Reporting by Jennifer Robin Raj in Bangalore)