Edward C. Arditte - IR Snr VP
May 27 2003 - 11:14AM
UK Regulatory
RNS Number:5672L
Tyco International Ld
27 May 2003
FOR IMMEDIATE RELEASE
TYCO APPOINTS EDWARD C. ARDITTE AS SENIOR VICE PRESIDENT, INVESTOR RELATIONS
PEMBROKE, Bermuda - May 27, 2003 - Tyco International Ltd. (NYSE:TYC, BSX: TYC,
LSE: TYI) today announced the appointment of Edward C. Arditte as Senior Vice
President, Investor Relations. He comes to Tyco from BancBoston Capital, the
private equity investment arm of FleetBoston Financial, where he served as Chief
Financial Officer.
Mr. Arditte will be responsible for communicating Tyco's mission, strategy and
financial and operational performance to investors, buy and sell side financial
analysts, and other relevant constituents in the investment community. He will
report to Executive Vice President and Chief Financial Officer David J.
FitzPatrick. Kathy Manning, Vice President, Investor Relations, will work with
and assist Mr. Arditte on investor relations matters.
Mr. FitzPatrick said: "We're most delighted that Ed is joining Tyco in this
important capacity. He has a keen analytical mind, a solid reputation for
integrity, and strong leadership skills. Ed brings to Tyco a wide range of
financial, managerial and business experience in global, diversified companies,
which gives him the necessary perspective to communicate effectively with both
investors and financial analysts."
Mr. Arditte said: "I look forward to joining Tyco's talented finance team and
helping them maximize the value of Tyco's businesses. Ed Breen and Dave
FitzPatrick have already made progress in building investor trust and we all
realize that a best-in-class investor relations program must be built upon
trust, integrity and a long-term commitment to building value for Tyco's
shareholders. I believe strongly in Tyco's outstanding businesses and am
excited about the opportunity to be part of Tyco's future."
Mr. Arditte has broad financial experience in the fields of investor relations,
treasury, finance, business development and risk management. Prior to serving
as the Chief Financial Officer of BancBoston Capital, Mr. Arditte spent over 15
years at Textron Inc., an $11 billion corporation with global operations in a
diverse set of industrial businesses. During his tenure at Textron, Mr. Arditte
held a number of positions of increasing responsibility, including Vice
President Investor Relations and Risk Management; Vice President Communications
and Risk Management; Vice President, Finance and Business Development at the
Textron Fastening Systems Group; and Vice President and Treasurer for Textron
Inc., where his principal areas of activity were capital markets activities,
cash and currency management, investment banking and rating agency relations,
risk management and the investment oversight of $6 billion of employee benefit
assets.
Mr. Arditte holds an M.B.A. in Finance and Management Policy from Boston
University Graduate School of Management and a B.A. in Political Science from
the University of California.
About Tyco International
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 Information
This release contains 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," "project," and similar expressions are generally
intended to identify forward-looking statements. The forward-looking statements
in this release include statements addressing 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 and its Quarterly Report on Form 10-Q for the quarter ended March 31,
2003. 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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