Tyco Electronics Ltd. (NYSE:TEL) has hired Cuong Viet Do as senior vice president of corporate strategy and business development, reporting to chief executive Tom Lynch. He most recently was chief strategy officer for Chinese computer maker Lenovo Group Ltd., which he joined in 2006 -- a year after Lenovo's $1.75 billion acquisition of IBM Corp.'s (NYSE:IBM) PC business and after 17 years with McKinsey & Co.
In hiring Do, Tyco Electronics, a $14.8 billion maker of engineered electronic components and telecommunication systems, gains a skilled dealmaker, whose experience derives from a broad range of industries. In addition to his stint in high tech at Lenovo, Do spent more than a decade working with healthcare clients at McKinsey. But Do's understanding of global markets was a big selling point for
Tyco Electronics. In announcing the appointment, the company touted Do's emerging markets experience as being "an ideal fit."
Since spinning out of
Tyco International Ltd. (NYSE:TYC) in 2007, Tyco Electronics' deal activity has been limited to divesting. Most recently, it agreed to sell its wireless systems division to Harris Corp. (NYSE:HRS) for $675 million. And in May 2008, it sold its radio frequency components and subsystem unit to Cogham plc of the U.K. for $525 million. With the addition of Do, it's possible Tyco Electronics may be ready to begin buying again, with a focus on emerging markets.
- Suzanne Stevens
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