"Today's decision confirms the Board's commitment to select a new slate of independent Directors who will bring a wide range of perspectives to Tyco," said Mr.Breen. "I believe the Board is acting in the best interest of the Company and its shareholders. I'd like to thank all the members of the Board for making this decision. I also wish to express my appreciation to Ira Millstein, who worked with members of the Board and Tyco's counsel to achieve this result."
The Board also nominated Admiral Dennis C. Blair (U.S. Navy, Ret.) to fill one of the vacancies expected to open on the Board. Mr. Breen said, "I am pleased to welcome Dennis Blair as the most recent nominee to the Tyco Board. He has a lifetime of leadership experience to offer to this company and a reputation for insightful and decisive action that is second to none. He is known for his integrity and independent thinking and will be a fine addition to this Company's Board of Directors."
Admiral Blair retired as Commander in Chief of the U.S. Pacific Fleet in 1999 after more than 30 years of service in the armed forces. Previously, Blair served as Vice Admiral and Director of the Joint Staff and member of the Reserve Forces Policy Board for the Department of Defense. During his career he has also worked closely with The White House, the National Security Council and the Central Intelligence Agency and served as Rear Admiral and Commander of the Kitty Hawk Battle Group. Blair graduated from the U.S. Naval Academy and holds a Masters Degree from Oxford University.
As Board vacancies occur, Admiral Blair and other nominees previously announced will be among those to fill such vacancies. The other nominees are Jerome York, Mackey McDonald, George Buckley, Bruce Gordon and Sandra Wijnberg. Of the current directors, only Mr. Breen and Jack Krol, the Company's lead outside director and Chairman of the Board's Corporate Governance and Nominating Committee, will be nominated and supported for re-election.