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Tyco division president to leave

NEW<\p>YORK (Bloomberg) — Tyco International Limited said Fire and Security President Dave Robinson will leave by September as it shifts management before splitting into three companies.Naren Gursahaney, 45, was named president of ADT Worldwide with responsibility for all of Tyco's fire and security operations outside North America. He will run the largest division of what will be left of Tyco after two units are spun off, said spokesman Paul Fitzhenry. Gursahaney's segment will represent 40 percent of sales, or about $7 billion.

Tyco, the world's biggest maker of electronic connectors and security systems, plans to spin off its health-care and electronics divisions into separate companies. The remaining security and valve units will form a third company. Bermuda-based Tyco will split after receiving final approval from the US Securities and Exchange Commission. The break up may be completed by June 30.

George Oliver, 46, will remain president of Tyco Safety Products and add responsibility for Tyco Electrical and Metal Products, while Dean Seavers, 46, will continue to head SimplexGrinnell, the company said. Patrick Decker, 42, was appointed head of Tyco Flow Control.

Shares of Tyco, run from West Windsor, New Jersey, rose 49 cents, or 1.5 percent, to $33.36 at 4:28 p.m. in New York Stock Exchange composite trading and have gained 23 percent in the past year.

Separately, Tyco cancelled two credit lines totalling $2.5 billion early, without termination penalties, as it takes further steps toward a split.

The company replaced a five-year and a three-year credit agreement with three new lines, according to a regulatory filing today.