Governance
Tyco International's Board of Directors is responsible for directing, and providing oversight of, the management of Tyco's business in the best interests of the shareholders, and consistent with good corporate citizenship. In carrying out its responsibilities, the Board selects and monitors top management, provides oversight for financial reporting and legal compliance, determines Tyco's governance principles and implements its governance policies. The Board, together with management, is responsible for establishing the firm's operating values and code of conduct, and for setting strategic direction and priorities.
While Tyco's strategy and leadership evolve in response to its changing market conditions, the company's mission and values are enduring. So too are five governance principles, and along with the company's mission and values, that constitute the foundation upon which the company's governance policies are built.
Governance Principles
- Active board
- Company leadership
- Compliance with laws and ethics
- Inform and listen to investors and regulators
- Continuous improvement
Tyco believes that good governance requires not only an effective set of specific practices, but also a culture of responsibility throughout the firm, and governance at Tyco is intended to optimize both. Tyco also believes that good governance ultimately depends on the quality of its leadership, and it is committed to recruiting and retaining directors and officers of proven leadership and personal integrity.
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CEO Ed Breen on Governance at Tyco
"Tyco's corporate culture is built on the premise that we will draw the best from our employees and that every employee, without exception, is responsible for the conduct and success of the company. This emphasis on ethical behavior runs throughout the firm, top to bottom."
Tyco Joins Partnering Against Corruption Initiative
In early 2010 our CEO, Ed Breen, demonstrated a commitment to fight bribery by joining the World Economic Forum Partnering Against Corruption Initiative (PACI). PACI brings together companies from varied industries and geographies to fight bribery and corruption. The initiative now has over 150 signatories of industry-leading companies, all supporting a zero-tolerance policy toward bribery and promoting effective internal anti-corruption programs.
Tyco’s membership in PACI demonstrates our commitment to live by exemplary industry standards and support efforts to combat corruption globally.