Tyco: Driven by growth, driven to a fall
Under Kozlowski’s (CEO) leadership Tyco embarked on an acquisition spree that produced one of America’s largest conglomerates. Kozlowski’s power and wealth grew in tandem. But this was not enough. Kozlowski’s ambition was for Tyco to become the new GE. At the same time, he, and his CFO, Swartz, looted the company of millions of dollars. Expansion into financial services and investigations by the SEC into Tyco’s aggressive accounting practices finally brought the company to the brink of collapse. A whole suite of court cases ensued as shareholders suffered an 80% loss.
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