CORK, Ireland—Tyco today announced it has named former Dish Network executive Robert E. Olson, 56, EVP and CFO effective in November. He will replace Arun Nayar, 65, who will retire at the end of the year.
Olson comes to Tyco from satellite communications company DISH Network, where he was EVP and CFO. From 2006-2008, Olson served as CFO of Trane Commercial Systems, the largest operating division of American Standard. He also served as EVP and CFO of AT&T's Consumer Services division and later its Business Services division. He held leadership roles at American Airlines.
Olson has a bachelor's degree in chemical engineering from the University of Alabama and a Master's degree in business administration from UCLA.
Nayar will serve as an advisor until the end of the year when he will retire from Tyco.
In a prepared statement George R. Oliver, Tyco's CEO said: "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."
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.