Tyco International Names Robert Olson CFO, Backs Q4 EPS View

(RTTNews) - Tyco International Plc. (TYC) Tuesday said Robert Olson has been appointed as Executive Vice President and Chief Financial Officer, effective the filing of the company's annual report on Form 10-K with the U.S. Securities and Exchange Commission in November.

Olson, 56, has joined the company and will serve as Chief Financial Officer Designate until then. He will succeed Arun Nayar, 65, who will step down from the CFO role at that time.

Nayar will retire from the company at the end of this calendar year and will serve in an advisory capacity for the next several months to ensure an orderly transition into 2016.

Most recently, Olson served as the Executive Vice President and Chief Financial Officer of DISH Network Corp., for five years. Prior to that, Olson was the Chief Financial Officer of Trane Commercial Systems, the largest operating division of American Standard, from 2006 to 2008.

Previously, he served as the Chief Financial Officer of AT&T's Consumer Services division and later its Business Services division. He also held leadership roles in finance, marketing, operations and planning at American Airlines.

In connection with the announcement, the company reaffirmed its guidance of $0.60 to $0.62 of earnings per share from continuing operations before special items for the fourth fiscal quarter of 2015. Analysts look for earnings of $ 0.61 per share for the quarter.