-- Lynch Will Continue as Executive Chairman of the Board
After the Transition
-- Company to Report 2016 Full-Year Financial Results on
November 2, 2016
SCHAFFHAUSEN, Switzerland,
Oct. 3, 2016 /PRNewswire/ -- TE
Connectivity Ltd. (NYSE: TEL) today announced that its Board of
Directors has appointed Terrence
Curtin to succeed Tom Lynch
as the company's chief executive officer, effective March 9, 2017. Curtin was previously elected to
TE Connectivity's (TE) Board of Directors at the company's annual
general meeting held on March 2, 2016
and is currently TE's president.
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Lynch has served as the company's Chief Executive Officer since
January 2006 and was elected to
Chairman of the Board in January
2013. He led the transition of TE Connectivity from a former
electronics segment of Tyco International to a separate
and independent public company. Lynch will serve as the company's
CEO until the transition to Curtin on March
9, 2017. Upon transition, Lynch will continue as Executive
Chairman of the Board.
"These are exciting times for TE, and we have never been better
positioned to capitalize on the strong underlying trends of a
safer, greener, smarter and more connected world," said Lynch. I
have loved being CEO of this company for the past decade, and I'm
very happy that Terrence is succeeding me. He is the ideal person
to continue leading the company into the future. Terrence has been
instrumental in establishing TE's global leadership position in
connectivity and sensor solutions and strengthening the company's
financial performance to drive value for our shareholders. We have
prepared Terrence for this role over several years and expect a
seamless transition."
"I appreciate the confidence of the Board and I am excited about
the opportunity to lead TE into its next phase, building upon our
strategy, attractive business model and commitment to value
creation for shareholders. We've made strong progress in focusing
on harsh environment applications and established TE as the clear
leader in connectivity and sensor solutions. I look forward to
working with the 72,000 TE employees around the globe who help our
customers solve complex challenges for an increasingly connected
world," said Curtin.
Dr. Pierre R. Brondeau, the independent lead director
of TE's Board of Directors said, "Terrence's appointment to CEO
demonstrates TE's commitment to leadership development and the
company's strong succession planning process. Terrence has been at
TE Connectivity for more than 15 years, is a proven leader and has
held several executive leadership roles at TE. The Board is
confident he will continue to build on TE's strong foundation and
success going forward."
Curtin was appointed president of TE Connectivity in March
2015 and elected to the Board of Directors in March 2016. In his role as president, Curtin
has responsibility for all of the company's connectivity and sensor
businesses, as well as mergers and acquisition activities. Prior to
his current role, Curtin served as president of TE's
Industrial Solutions segment. Prior to that, from 2006 to 2012, he
served as executive vice president and chief financial officer of
TE and led the financial aspects of the company's separation from
Tyco International.
Prior to TE, Curtin was the vice president and controller of the
Electronics segment of Tyco International from 2001 to 2006. He
holds a Bachelor's of Science degree in Accounting from
Albright College and is a member of its Board of Trustees.
2016 FULL-YEAR FINANCIAL RESULTS TO BE REPORTED NOVEMBER 2, 2016
The company will report fiscal 2016 full-year financial results
before trading begins on November 2,
2016. The company will hold a conference call for investors
at 8:30 a.m. ET. The call can be
accessed in the following ways:
- At TE Connectivity's website: investors.te.com.
- By telephone: For both "listen-only" participants and those
participants who wish to take part in the question-and-answer
portion of the call, the dial-in number in the United States is (800) 230-1059, and for
international callers, the dial-in number is (612) 332-0107.
- An audio replay of the conference call will be available
beginning at 10:30 a.m. ET on
November 2, 2016, and ending at
11:59 p.m. ET on November 9, 2016. The dial-in number for
participants in the United States
is (800) 475-6701. For participants outside the United States, the dial-in number is (320)
365-3844. The replay access code for all callers is 403245.
ABOUT TE CONNECTIVITY
TE Connectivity (NYSE: TEL) is a $12
billion global technology leader. Our connectivity and
sensor solutions are essential in today's increasingly connected
world. We collaborate with engineers to transform their concepts
into creations – redefining what's possible using intelligent,
efficient and high-performing TE products and solutions proven in
harsh environments. Our 72,000 people, including over 7,000
engineers, partner with customers in close to 150 countries
across a wide range of industries. We believe EVERY CONNECTION
COUNTS – www.TE.com.
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