PEMBROKE, BERMUDA: Tyco International, the scandal-buffeted conglomerate, has hired a new SVP of IR, Edward Arditte.
Arditte comes to Tyco from BancBoston Capital, an investment arm of financial services firm FleetBoston Financial, where he was the unit's CFO. He will report to Tyco EVP and CFO David FitzPatrick.
Arditte is the latest new face to arrive at Tyco since personal and company-related scandals forced out the previous senior management team, including CEO Dennis Kozlowski and CFO Mark Swartz.
Former Motorola executive Edward Breen and former United Technologies' CFO FitzPatrick replaced that duo last year. Tyco also handed over the reigns of its day-to-day PR to corporate crisis firm Robinson, Lerer & Montgomery in 2002.
"Ed Breen and Dave FitzPatrick have already made progress in building investor trust, and we all realize that a best-in-class IR program must be built upon trust, integrity, and a long-term commitment to building value for Tyco's shareholders," said Arditte in a prepared statement.