Tyco International plc TYC recently announced the appointment of Robert E. Olson as Executive Vice President and Chief Financial Officer. Robert E. Olson will assume the new responsibilities after the annual report filing in November 2015 and will succeed the current CFO Arun Nayar.
The newly appointed CFO is expected to drive Tyco International to newer heights with his leadership traits and expertise in service-oriented technology companies. We believe that Robert E. Olson’s sector know-how will prove beneficial for Tyco International and unlock further value. Following the announcement, the company reaffirmed its guidance of earnings per share from continuing operations before special items for the fourth fiscal quarter of 2015 in the range of 60 cents to 62 cents.
With experience in companies like DISH Network Corp DISH and leadership roles in financing, marketing and operations in varied companies, he is expected to revamp Tyco International and augment its revenues going forward. He is expected to emulate similar success in Tyco International by judiciously investing for organic growth initiatives and accretive acquisitions.
Tyco provides the latest fire protection and security products and services to more than three million customers across the globe. The company has more than 57,000 employees in over 900 locations, serving various end markets, including commercial, institutional, governmental, retail, industrial and energy, residential and small businesses. The company’s solid balance sheet and healthy liquidity position are also potential catalysts to continuously fund organic and inorganic growth initiatives and maximize return for its shareholders.
Tyco currently has a Zacks Rank #4 (Sell). Other stocks in the industry that are worth considering include Napco Security Technologies, Inc.NSSC, Net 1 Ueps Technologies Inc UEPS and each carrying a Zacks Rank #1 (Strong Buy).
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