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L. Dennis Kozlowski: Compulsive Shopper
The AMP purchase capped the best year yet for Kozlowski, 52, who in 1998 agreed to buy 13 companies for $18 billion. All this dealmaking has transformed once-sleepy Tyco into one of America's premier industrial growth companies. Even better, in a year when many mergers foundered over executive control and ego, Kozlowski has made all the parts work together smoothly. When the all-stock deal closes in February, Tyco will be generating some $23 billion in annual revenues, up from just $3 billion in 1992, when Kozlowski took the reins. Net income is expected to hit $2.3 billion in 1999, up from $95 million in 1992. The hyperacquisitive Kozlowski is always on the prowl, scouting 30 to 40 opportunities at a time. He focuses on the four segments where Tyco already has a major presence: disposable medical supplies, valves, fire protection and electronic security, and electrical and electronic components. Hardly glamorous stuff, but that's fine by Kozlowski. He squeezes the most out of these operations with ultra-lean and decentralized management. His headquarters staff numbers only about 70, centered around four worldwide managers. Kozlowski hates meetings with a passion, preferring to keep in touch by PC and phone. Once Kozlowski has swallowed AMP, he figures Tyco should generate profit growth of 25%. But don't think that will satisfy Kozlowski. Indeed, the dealmaking may have only begun.
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Updated Dec. 30, 1998 by bwwebmaster
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