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George W. Buckley Becomes Director Of Tyco
Mr. Berman, who joined the Tyco Board in 1967, is the third Tyco director to resign following the Board's decision on September 12, 2002 that, following the appointment of Ed Breen as the new Chairman and Chief Executive Officer, the Board should consist of all new directors.
Tyco Chairman and Chief Executive Officer Ed Breen said: "I would like to thank Josh Berman for his many years of service to Tyco. His wise counsel has been invaluable to Tyco over the years as the Company has grown from a small manufacturing business to one of the world's great diversified corporations. All of us at Tyco wish him well."
Mr. Breen continued: "I believe that George Buckley will make many significant contributions to the future development of Tyco. He is a distinguished business leader with broad understanding of the challenges facing a global company, and he will bring a valuable perspective to the Board."
Mr. Berman said: "I believe it is time to participate in the transition to new leadership on the Board. Having served thirty-five years as a director, I have witnessed the efforts of hundreds of thousands of dedicated employees in building businesses with worldwide leadership positions. As great as these achievements have been, I am confident that, with the foundation that has been laid and the new executive management team that has come on board, Tyco's best days have yet to come."
Mr. Buckley said: "Tyco is a Company with solid businesses and a first-rate management team. Ed Breen is assembling an outstanding Board, and I look forward to serving with him and the other Directors as we help the Company fulfill its great potential."
The nomination of Mr. Buckley to the Tyco Board was previously announced on September 12, 2002. Mr. Buckley is the Chairman and CEO of Brunswick Corporation, the world's largest manufacturer of recreational boats and marine engines. It is also a major manufacturer of fitness, bowling and billards equipment. Formerly serving as the Chief Technology Officer and President of two divisions throughout his career at Emerson Electric Company from 1993 to 1997, Mr. Buckley joined Brunswick in 1997 as President-Mercury Marine Group and has held the role of Chairman and Chief Executive Officer for over two years. Mr. Buckley holds a B.S. in electrical and electronic engineering from the University of Huddersfield and received a Ph.D. in engineering from the University of Southampton in 1977.