Tyco International on Tuesday announced the appointment of Robert E. Olson as executive vice president and chief financial officer.
Olson will take over the role from Arun Nayar, who will step down after Tyco files its 10-K in November.
Nayar will retire from the company at the end of this calendar year and will continue to serve in an advisory capacity for the next several months to ensure a smooth transition.
“We are pleased to welcome an accomplished financial executive such as Robert to our senior leadership team,” said George R. Oliver, Tyco’s CEO. “Robert’s effective record in chief financial officer roles combined with his broad experience in service-oriented technology companies will be especially valuable as we grow our services and solutions businesses.”
“At the same time, I would like to thank Arun Nayar for his contributions to the separation and launch of the new Tyco,” Oliver said. “I have valued his leadership and guidance in positioning the company for success. His retirement will mark the culmination of a thoughtful succession process that both Arun and the Board have been involved in over the past year.”
Olson joins the Tyco team from his previous role as CFO and vice president of DISH Network. He served with DISH Network for five years after joining the company from his previous role of CFO at Trane Commercial Systems.
Before that he served as the chief financial officer of AT&T’s consumer services division and later its business services division. He also worked for American Airlines in various leadership roles.
Olson holds a bachelor’s degree in chemical engineering from the University of Alabama and a master’s degree in business administration from the University of California at Los Angeles.
Olson takes over an organisation with more than $US10 billion in annual revenue and three million worldwide customers. Tyco is the world’s largest pure-play fire protection and security company.