TE Connectivity CFO Robert Hau to Step Down -- Update
February 05 2016 - 10:40AM
Dow Jones News
By Austen Hufford
TE Connectivity Ltd. (TEL) said Friday its Chief Financial
Officer Robert Hau would resign next month, and the company has
begun a search for his replacement.
TE, formerly part of Tyco International (TYC) and headquartered
in Switzerland, is a maker of connectivity and sensor products used
by telecommunications companies as well as by automotive, aerospace
and energy companies, among others.
Mr. Hau joined TE Connectivity in 2012 and has been located at
the company's U.S. headquarters in Berwyn, Penn. His decision to
step down, effective March 4, is the result of a decision to
relocate his family to the Midwest, TE Connectivity said in a
regulatory filing, adding that it has started a search for
evaluating candidates to replace him.
The company said it expects to appoint Mario Calastri, who is
currently treasurer, as acting CFO in the interim.
In its latest quarter, TE Connectivity's earnings declined 25%
from a year earlier as the company struggled with a strong U.S.
dollar, soft demand from China and weakness in oil-exposed
industrial business.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
February 05, 2016 10:25 ET (15:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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