Posted on 03/26/2004 6:52:27 PM PST by AM2000
NORTH HAVEN, Conn. | Tyco International shareholders overwhelmingly rejected proposals to move the scandal-tainted conglomerate's incorporation back to the United States and to strictly limit executive compensation — both moves the company opposed.
Fewer than 100 shareholders attended the subdued meeting, and most of those who spoke offered positive opinions of Tyco's new management. One congratulated Chief Executive Officer Ed Breen, the former Motorola chief operating officer who took over in July 2002, for boosting Tyco's market capitalization by $30 billion in a year.
That was despite some shareholder anger over Tyco's low stock price — less than half its $60 per share peak — and the legacy of heavy debt and soiled reputation left by its previous top executives.
(Excerpt) Read more at mcall.com ...
Tyco International shareholders overwhelmingly rejected proposals to move the scandal-tainted conglomerate's incorporation back to the United States...
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