Tyco Electronics Ltd. received shareholder approval at the Annual General Meeting to change the company name to TE Connectivity Ltd. The name change is subject to Swiss regulatory approval, which the company expects to receive by March 25, 2011. The NYSE ticker symbol (TEL) will remain the same.
"Our new name better reflects the products and solutions we bring to our customers," said Chief Executive Officer Tom Lynch. "We offer more than 500,000 products that connect and protect the flow of power and data inside millions of products that consumers and industries use every day, all around the globe. From smart phones to satellites, automobiles to airplanes, dishwashers to data centers, we're in it."
"As a company, we are well-known to the industries and customers we serve," Lynch said. "We want to expand our reach and drive awareness of TE Connectivity beyond our existing customer base to prospective customers, suppliers, investors, recruits and the communities in which we operate around the world."
TE Connectivity is a global, $12.1 billion company that designs and manufactures over 500,000 products that connect and protect the flow of power and data inside the products that touch every aspect of our lives. Our nearly 100,000 employees partner with customers in virtually every industry from consumer electronics, energy and healthcare, to automotive, aerospace and communication networks enabling smarter, faster, better technologies to connect products to possibilities.