While we cannot precisely quantify the distraction costs, their impact is obvious in segment margins and is particularly frustrating. I believe that they are contained and should fade in the coming quarters, but they are likely to approximate 25 to 30 cents per share as opposed to the 5 to 10 cents per share that we had initially projectedExecutive Business Briefing Apr 25, 2002
We have taken immediate cost reduction actions in our Electronics business, which will allow us to continue to deliver strong earnings results despite weak end markets and will position us ahead of the curve in taking advantage of eventual economic recoveryExecutive Business Briefing Oct 18, 2001
While we see likelihood of further weakness within these end markets, our incremental cost reduction actions are designed to allow us to achieve our earnings targetExecutive Business Briefing Oct 18, 2001
Dennis Leo Kozlowski (born November 16, 1946, Newark, New Jersey) is a former CEO of Tyco International, convicted of misappropriating more than $400 million of the company's funds to support a lavish lifestyle and chronic substance abuse issues. He is currently serving at least eight years and four months in prison.
Kozlowski joined Tyco in 1975, becoming CEO in 1992. With Kozlowski at the helm, Tyco massively expanded during the late 1990s. The company consistently beat Wall Street's expectations and through a series of strategic mergers and acquisitions, ushered in a new era of mega-conglomerates. Kozlowski left Tyco in 2002, amid a controversy in regard to his compensation package.
Kozlowski has been tried twice. The first attempt was a mistrial as one of the jurors - who sided with Kozlowski - later claimed that she was threatened by a member of the public. Kozlowski testified on his own behalf during the second trial, stating that his pay package was "confusing" and "almost embarrassingly big", but that he never committed a crime as the company's top executive.