Tyco CEO Didn’t Ask for Bonus Data to Be Secret
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Tyco International Ltd.’s former head of human resources testified that ex-Chief Executive L. Dennis Kozlowski, on trial for fraud, never asked her to keep bonus or other information secret from the company’s directors.
The testimony from Patricia Prue, who worked as a liaison to the board’s compensation committee, undercuts prosecutors’ contention that Kozlowski, 58, and former finance chief Mark Swartz, 44, awarded themselves millions of dollars in bonuses without the board’s knowledge. The men are facing the charges in New York state court for a second time after a mistrial in April.
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