Two ADT Executives Ousted
BOCA RATON, Fla.
This week, Tyco Int’l replaced ADT’s vice president of
finance and eliminated the chief manager’s post for the
company’s dealer programs.
Scott MacArthur has been replaced by Mick Lopez, a former IBMer with connections in the investment and high-tech community in South Florida. In the past year, Lopez has managed the marketing initiatives of the InternetCoast, formed in the late 1990s to promote South Florida as a high-tech hub. Lou Sepulveda, who held the chief manager’s position, is no longer with the company.
ADT’s international business units will report directly to managers in each country for Tyco’s Fire and Security Division.
Tyco declined to say why either move was made. Breen promised in March that he would fire managers if he found more accounting irregularities. Recently Tyco uncovered $1 billion in fresh accounting problems, much of it on Fire and Security’s books.
In March, Tyco uncovered $265 million to $325 million in questionable accounting in the firm’s fire and security operations in Europe and Asia. That cost Jerry Boggess, Tyco’s fire and security head, his job.
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