Tyco Names New CFO And Affirms Earnings Outlook

By Tomi KilgoreMarketWatch Pulse

Tyco International said Tuesday that it named Robert Olson as its chief financial officer, replacing Arun Nayar who will retire at the end of the year. Olson was most recently CFO of Dish Network Corp. , which was reported over the summer to be in talks with banks about funding for a bid to buy T-Mobile U.S. Inc. . The fire protection and security company affirmed its fourth-quarter adjusted earnings-per-share outlook of 60 cents to 62 cents, which surrounds the FactSet consensus of 61 cents. "Robert's effective record in chief financial officer roles combined with his broad experience in service-oriented technology companies will be especially valuable as we grow our services and solutions businesses," said Chief Executive George Oliver. The stock, which was still inactive in premarket trade, has dropped 18% year to date, while the S&P 500 has slipped 2%.

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