Tyco names new GC in LatAm overhaul
Tyco International has named compliance counsel Francisco Hernandez as its new general counsel for Latin America and the Caribbean, as the global conglomerate overhauls its regional legal team.
September 12, 2007 at 10:10 PM
2 minute read
Tyco International has named compliance counsel Francisco Hernandez as its new general counsel for Latin America and the Caribbean, as the global conglomerate overhauls its regional legal team.
Hernandez replaces former incumbent Armando Tirado and will report directly to company secretary John Jenkins.
Tirado, who is yet to confirm his next destination, left the company on 29 June in the wake of a multibillion-dollar restructuring, which saw the conglomerate break up into three separate publicly-traded companies. The £32.4bn deal generated a lucrative role for Allen & Overy, which fielded a 300-lawyer team.
It is understood that Tyco is also scaling down its Latin America and Caribbean legal operations following the demerger. However, the company was unable to comment on reductions in its legal staff as Legal Week went to press.
The move comes two months after the conglomerate drew from its own ranks to fill European heads of legal roles for its recently separated healthcare and electronics divisions.
Tyco Electronics named veteran Tyco International counsel Christoph Zeyen as its European legal head while Covidien, Tyco's newly-renamed healthcare division, appointed Michelangelo Stefani.
Tyco remains one of the world's largest companies, with 240,000 employees and annual revenues of $39bn (£19bn). Earlier this year, Tyco International's European general counsel Trevor Faure oversaw a sweeping review of the conglomerate's panel of external legal advisers, which saw the line-up slashed from nearly 240 firms down to just one.
The £8m deal gifted Eversheds the bulk of the company's mainstream legal work across Europe, the Middle East and Africa.
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