Kozlowski steps down from Raytheon board

Former Tyco International Ltd. Chairman and Chief Executive Officer L. Dennis Kozlowski has resigned from the board of directors at Raytheon. Yesterday Tyco announced that Kozlowski had stepped down as chairman and CEO of Tyco. According to news reports he faces an investigation into possible sales tax evasion involving millions of dollars in artwork. Kozlowski had served on Raytheon’s board since 1995.



“Dennis Kozlowski has been an effective member of the board,” said Raytheon Chairman and Chief Executive Officer Daniel P. Burnham. “We respect his decision and appreciate his many years of valuable service to Raytheon and its shareholders.” With headquarters in Lexington, Mass., Raytheon Company is a global technology leader in defense, government and commercial electronics, and business and special mission aircraft.



Locally, Tyco owns ChipCoolers in Warwick, Tyco Fire and Security Products in Cranston, SimplexGrinnel in East Providence, AFC Cable Systems of Providence, and ADT Security. There are more than 400 Rhode Islanders employed at these five companies.