Tyco CEO Names New Leadership
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Tyco International Ltd. began to shake up its much-criticized board of directors, part of the new chief executive’s rapid-fire changes in leadership to restore confidence in the troubled conglomerate.
The Bermuda-based company canceled a shareholder vote set for next month that would have expanded the board to 15 directors from 11.
CEO Ed Breen also named John Krol, former chief executive of DuPont Co., to its board of directors and Eric Pillmore, a veteran finance executive, to the newly created position of senior vice president of corporate governance.
Tyco shares rose 17 cents to $12.76 on the NYSE.
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