(11) 2006-2007: By the end of the fiscal year 2006, Tyco's revenue had eclipsed $17 Billion. Despite the strong cash flow, growing revenue and decreased debt, Tyco and its Board of Directors approved a plan to separate Tyco into three publicly independent companies. Tyco believed that this would allow for each segment to perform better within its particular market and create more value for its shareholders. Empty citation? (help). The separation was completed in July 2007, when Tyco separated into three publicly independent companies: Covidien Ltd. (formerly Tyco Healthcare). Tyco Electronics Ltd. (now TE Connectivity). Tyco International Ltd. (formerly Tyco Fire & Security and Tyco Engineered Products & Services (TFS/TEPS)). Following the separation, Chairman and CEO Ed Breen remained at the head of Tyco International, which is now composed of five major business segments: ADT Worldwide, Fire Protection Services, Safety Products, Flow Control and Electrical and Metal Products. The company generated revenue of $18. 8 billion in 2007 and employs 118,000 people across all 50 states and in more than 60 countries