Tyco Files Proxy Statement and Proposes Election of New Directors
NEUHAUSEN, Switzerland, Jan. 10, 2014 /PRNewswire/ -- Tyco (NYSE: TYC) today announced in its definitive proxy statement that it has nominated Herman Bulls and Jürgen Tinggren for election to its Board of Directors at the company's Annual General Meeting on March 5, 2014.
Mr. Bulls, 57, is Chairman of Jones Lang LaSalle's Public Institutions specialty practice, which he founded, and also serves as International Director of Global Markets for the company, focusing on client relationships and mergers and acquisitions. Mr. Bulls is Chief Executive Officer of Bulls Advisory Group, a real estate consulting and advisory firm, and co-founded and served as President and CEO of Bulls Capital Partners, a commercial mortgage banking firm. Before Jones Lang LaSalle, Mr. Bulls completed nearly 12 years of active duty service with the United States Army and retired as a Colonel in the U.S. Army Reserves in 2008. He is a member of the Executive Leadership Council, an organization of senior African American business executives from Fortune 500 companies, and former Chairman of the Executive Leadership Foundation. Mr. Bulls is on the board of directors of Comfort Systems, USA, Inc., a provider of heating, ventilation and air conditioning services; Rasmussen Inc., a post-secondary for-profit educational services organization; USAA, a provider of banking, insurance and investment management services to the military community; and Exelis Inc., an aerospace and defense firm. Mr. Bulls received a bachelor of science degree in engineering from the U.S. Military Academy at West Point and a master of business administration degree in finance from Harvard Business School.
Mr. Tinggren, 55, was the Chief Executive Officer of the Schindler Group, a global provider of elevators, escalators and related services, through December 2013 and has been proposed for election to the board of directors of Schindler in March 2014. He joined the Group Executive Committee of Schindler in April 1997, initially with responsibility for Europe and thereafter for the Asia/Pacific region and for Technology and Strategic Procurement. In 2007, he was appointed Chief Executive Officer and President of the Group Executive Committee of the Schindler Group. Mr. Tinggren also serves on the Board of Schenker Winkler Holding. He also is a Board member of the Swiss American Chamber of Commerce and a Lead Counselor of The Conference Board. Mr. Tinggren holds a master of business administration degree jointly from the Stockholm School of Economics and New York University Business School.
In addition, John A. Krol will retire from the board at the 2014 Annual General Meeting.
"We are indebted to Jack for his tremendous contributions and service to our board and company," said Tyco Chief Executive Officer George Oliver. "Jack joined our board and served as its lead director at a time when our company faced significant challenges, and we have been fortunate to draw on his leadership, experience, and sound judgment over the last 11 years."
Mr. Oliver added, "We are delighted to nominate Herman and Jürgen to join our Board of Directors. Herman's experience in leadership and operations and Jürgen's global leadership of a products and services business will be valuable in providing oversight and guidance for Tyco."
Tyco will host its 2014 Annual General Meeting of shareholders on March 5, 2014 at the Park Hyatt Zurich, Beethoven-Strasse 21, 8002 Zurich, Switzerland. The Annual General Meeting will begin at 3:00 p.m. Central European Time. Details regarding the proposals to be voted on at the Annual General Meeting are contained in the definitive proxy statement filed today with the U.S. Securities and Exchange Commission.
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. A company with $10+ billion in revenue, Tyco has approximately 65,000 employees in more than 1,000 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit the new www.tyco.com.