ADC (www.adc.com) announced a new organizational structure that includes immediate restructuring of its executive management, and broader executive-management realignments that will be completed sometime in November.
ADC will eliminate the position of chief operating officer. Current COO Lynn Davis will retire effective November 1; Rick Roscitt, currently chairman and chief executive officer, will also assume the role of president of ADC. Bob Switz, chief financial officer and senior vice president, will be promoted to executive vice president. He will assume expanded responsibilities for the company's corporate functions.
ADC said it also will eliminate 100 to 150 managerial positions. Additionally, Larry Ford, senior vice president and previous head o ADC's Integrated Solutions Group, will become president of the company's Wireline Business, including its DSL offerings.
"After careful consideration, I view this organizational streamlining effort as an essential way to speed up our decision-making and implementation processes," Roscitt said. "I firmly believe that the new market realities in worldwide telecom will award a decisive market-share advantage to firms that can make and implement decisions consistently faster than competitors."
