Fort replaces Kozlowski at Tyco

Pembroke, Bermuda; Exeter, N.H. Tyco International Ltd. announced June 3 that L. Dennis Kozlowski has resigned as chairman and ceo and stepped down from its board of directors for "personal reasons." Mr. Kozlowski is being investigated by New York District Attorney Robert Morganthau and a grand jury for possible sales tax evasion.

07/01/2002


Pembroke, Bermuda; Exeter, N.H. Tyco International Ltd. announced June 3 that L. Dennis Kozlowski has resigned as chairman and ceo and stepped down from its board of directors for "personal reasons." Mr. Kozlowski is being investigated by New York District Attorney Robert Morganthau and a grand jury for possible sales tax evasion. No charges had been filed as of June 3. "The Manhattan County District Attorney's Office is conducting a sales tax investigation of Mr. Kozlowski and others," says Barbara Thompson, communications director for the District Attorney's Office. Tyco's board asked current board member and former ceo and chairman John F. Fort to assume Mr. Kozlowski's responsibilities, while a search for a replacement is conducted. Mr. Kozlowski's resignation also follows recently reversed plans to break the conglomerate into several separate businesses.





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