N.K. Gursahaney appointment
February 13 2003 - 9:55AM
UK Regulatory
RNS Number:4695H
Tyco International Ld
13 February 2003
FOR IMMEDIATE RELEASE
TYCO APPOINTS NAREN K. GURSAHANEY VICE PRESIDENT OF OPERATIONAL EXCELLENCE
PEMBROKE, Bermuda - February 13, 2003 - Tyco International Ltd. (NYSE:TYC, BSX:
TYC, LSE: TYI) announced today that Naren K. Gursahaney, the former President
and CEO of GE Medical Systems in Asia and the Pacific, has been named to the
newly created position of Vice President of Operational Excellence. In this
position, Mr. Gursahaney will lead Tyco's Six Sigma and Lean Manufacturing
initiatives. Mr. Gursahaney will report directly to Chairman and Chief
Executive Officer, Edward Breen.
Mr. Breen said: "Naren Gursahaney is a proven leader with an outstanding track
record of strengthening operating businesses, and he is the ideal person to lead
our Six Sigma activities. One of my highest priorities this year will be to
drive operational intensity across all of Tyco's businesses. Naren will direct
that effort, helping to make sure that each of our outstanding businesses
reaches its full potential in terms of efficiency, productivity and return on
investment."
Mr. Gursahaney said: "I'm tremendously excited about the opportunities for
creating a company-wide culture of excellence at Tyco. Many of Tyco's
businesses have already made significant advances in this area, while others are
at the early stages. I look forward to working with executives at all levels of
the Company in developing a new Tyco that will deliver operational excellence in
a consistent, disciplined, sustained program."
Mr. Gursahaney held a number of positions during a 10-year career at GE. In his
most recent position as head of GE Medical Systems in the Asia-Pacific region,
Mr. Gursahaney was responsible for growing revenues and operating margins by 15%
in 2001. Previous to this position, Gursahaney was Chief Information Officer of
GE Medical Systems and Vice President-Service, GE Medical Systems-Asia. As an
executive in GE's corporate offices in Fairfield, CT, Gursahaney supported the
Vice Chairman of GE in the rollout and implementation of key corporate
initiatives, such as Six Sigma, in GE's international operations.
Previous to joining GE, Mr. Gursahaney spent over three years at Booz Allen &
Hamilton in Cleveland, OH. He also was an engineer at Westinghouse Electric
Corporation. Mr. Gursahaney has an MBA from the University of Virginia, Darden
School and a BS in Mechanical Engineering from Pennsylvania State University.
ABOUT TYCO INTERNATIONAL LTD.
Tyco International Ltd. is a diversified manufacturing and service company.
Tyco is the world's largest manufacturer and servicer of electrical and
electronic components; the world's largest designer, manufacturer, installer and
servicer of undersea telecommunications systems; the world's largest
manufacturer, installer and provider of fire protection systems and electronic
security services and the world's largest manufacturer of specialty valves.
Tyco also holds strong leadership positions in medical device products, and
plastics and adhesives. Tyco operates in more than 100 countries and had fiscal
2002 revenues from continuing operations of approximately $36 billion.
FORWARD LOOKING STATEMENTS
This release may contain certain "forward-looking statements" within the meaning
of the United States Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and are subject to
risks, uncertainty and changes in circumstances, which may cause actual results,
performance or achievements to differ materially from anticipated results,
performance or achievements. All statements contained herein that are not
clearly historical in nature are forward looking and the words "anticipate," "
believe," "expect," "estimate," "plan," and similar expressions are generally
intended to identify forward-looking statements. The forward-looking statements
in this release include statements addressing the following subjects: future
financial condition and operating results. Economic, business, competitive and/
or regulatory factors affecting Tyco's businesses are examples of factors, among
others, that could cause actual results to differ materially from those
described in the forward-looking statements.
More detailed information about these and other factors is set forth in Tyco's
Annual Report on Form 10-K for the fiscal year ended September 30, 2002. Tyco is
under no obligation to (and expressly disclaims any such obligation to) update
or alter its forward-looking statements whether as a result of new information,
future events or otherwise.
# # #
Contact: Gary Holmes (Media)
212-424-1314
Kathy Manning (Investors)
603-334-3900
This information is provided by RNS
The company news service from the London Stock Exchange
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