ADT 2008 Annual Report Download - page 8

OUR GOAL IS TO BE NOT JUST A SUPPLIER
OF PRODUCTS AND SERVICES, BUT A PROVIDER
OF VALUEADDED SOLUTIONS FOR OUR
CUSTOMERS.
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The mission of these centers is to develop innovative products
geared to the speciic needs of local markets. We’re staing the centers
with local people who understand local needs and local business
customs. These centers also serve as a training ground for future
company leadership.
Last year, we opened our irst China Center of Excellence in Shanghai.
At the center’s opening in April, I met with a senior oicial from the
City of Shanghai Fire Department who stressed to me the urgent need
for high-quality protective equipment for the city’s 10,000 ireighters.
Our Center of Excellence—where we will have 100 engineers on board
by the end of 2009—is now addressing that need. We opened our irst
India Center of Excellence last November in Bangalore. With these
two additions, we now have 16 centers in a global network of facilities
in North America, Europe and Asia.
CHANGE OF DOMICILE
There’s another step we’re taking to ensure our continued
competitiveness in global markets. We recently announced that our
board of directors has approved moving the company’s country
of incorporation from Bermuda to Switzerland. We believe this move
will provide important economic and operational beneits for our
company, including enhancing our ability to maintain a competitive
worldwide corporate tax rate. Tyco’s shareholders will vote on the
proposed move at a special meeting to be held this spring.
THE ROAD AHEAD
I’m proud of the great progress we made in iscal 2008. A key factor
in our continued progress is the commitment, passion and diversity of
our 113,000 colleagues around the world. By promoting from within
as well as reaching outside our organization, we’re working to assemble
the best possible team, while building bench strength for the future.
One example of this focus on building our bench is in the engineering
ield where, in just the last three years, we have hired 2,300 engineers,
one-third of them in our emerging markets. As a company with a global
footprint and operations in more than 60 countries, we provide our
employees with the chance to pursue challenging assignments not
only in their home country but also in other locations around the world.
Our company is also fortunate to have a board of directors with
exceptional skill and experience. Timothy Donahue, the former executive
chairman of Sprint Nextel Corporation, joined the board in 2008, while
Bruce Gordon, a member of our board since 2003, was named as our
new lead director.
The breadth and depth of Tyco’s talent and resources give us
conidence about the road ahead and our ability to capitalize on our
many opportunities. By staying close to our customers and providing
them with value-added solutions, we are continuing to strengthen
our company for the future. We thank you, our shareholders, for your
continued and loyal support.
EDWARD D. BREEN
CHAIRMAN AND CHIEF EXECUTIVE OFFICER