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<Bz26>Tyco names chairmen

BOSTON (Bloomberg) — Bermuda conglomerate Tyco International Ltd., which is splitting into three companies, named board members for its electronics and health-care businesses before the initial public offerings expected later this year.Both sets of directors have nine of 11 nominees that are independent and who will begin serving as soon as the company splits, Tyco said in two statements detailing each board.

American Standard Cos. chief executive officer Frederic Poses, 64, will serve as non-executive chairman of Tyco Electronics, while Dennis Reilley, 53, chairman of Praxair Inc., will hold the same post at Tyco Healthcare. Tyco CEO Edward Breen decided to split the company after job cuts and factory closings failed to generate enough sales and profit growth to satisfy the board.

Rich Meelia, 57, who has run the health-care business since 1995, and Thomas Lynch, 52, who has led electronics since January, 2006 were named to run the companies last month. Both will serve on their own company’s board, Tyco said. The rest of the company will be run by Breen, who was hired in 2002 to succeed L. Dennis Kozlowski.

Tyco Healthcare is the world’s second-biggest maker of disposable medical products behind Johnson & Johnson. Tyco Electronics is the world’s biggest maker of electric connectors used in everything from cell phones to computers.