Tyco Names New Senior Vice President of Operational Excellence and Chief Procurement Officer

PEMBROKE, Bermuda, Jan. 20 /PRNewswire-FirstCall/ -- Tyco International Ltd. has promoted Shelley Stewart, Jr. to senior vice president of operational excellence and chief procurement officer, effective immediately. Stewart will report to Tyco Chairman and Chief Executive Officer Ed Breen. He succeeds Naren Gursahaney, who has taken the position of president of Tyco Engineered Products & Services.

In this new position, Stewart will lead Tyco's Six Sigma, Lean Manufacturing, working capital, real estate and strategic sourcing initiatives across the company.

"Shelley has shown solid leadership within Tyco and in his previous roles. We look forward to his continued contributions to further strengthen the culture of excellence at Tyco," said Breen. "Under Shelley's leadership, we plan to build on the operational excellence success we've experienced over the past three years."

Prior to being named senior vice president of operational excellence and chief procurement officer, Stewart was Tyco's vice president of supply chain. In this role, he led the company's supply chain initiative, working closely with senior management to establish savings goals and promote best practices in sourcing. Stewart also led cross-division sourcing teams in an effort to reduce procurement costs across Tyco and to identify innovative sourcing strategies and opportunities to accelerate the savings program.

Stewart joined Tyco from Invensys where he served as senior vice president of supply chain management. Prior to that role, Stewart was vice president of supply chain management for Raytheon Company and held numerous supply chain and operational roles of increasing responsibility at United Technologies Corporation, where he was employed for 18 years.

Stewart is currently a member of the Conference Board's Purchasing and Supply Leadership Council and serves on the visiting Board of Directors at Howard University's School of Business, as well as being Chairman of Howard's Supply Chain Advisory Board and a member of Purchasing Magazine's Editorial Advisory Board. He also serves on the Board of Directors of the Institute for Supply Management (ISM). In December, the editors of Purchasing named Stewart the magazine's first Supply Chain Manager of the Year.

Stewart holds a master's degree in Business Administration from the University of New Haven and both a bachelor's degree and master's degree from Northeastern University. Most recently, he co-authored "Straight To The BottomLine(TM): An Executive's Roadmap to World Class Supply Management," (J.Ross Publishing).

About Tyco

Tyco is a global, diversified company that provides vital products and services to customers in five business segments: Fire & Security, Electronics, Healthcare, Engineered Products & Services, and Plastics & Adhesives. With 2005 revenue of $40 billion, Tyco employs approximately 250,000 people worldwide. More information on Tyco can be found at http://www.tyco.com/.

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