Agilent to Split; T&M Biz to be Rebranded

“Agilent has evolved into two distinct investment and business opportunities, and we are creating two separate and strategically focused enterprises to allow each to maximize its growth and success," said Agilent CEO William Sullivan.

Ron Nersesian, who has been Agilent's chief operating officer, is CEO-designate of the new electronic-measurement company. Neil Dougherty, who has been Agilent's treasurer, is chief financial officer-designate of that new company.

Last month, Agilent said its fiscal third-quarter earnings fell as revenue weakness in the electronic-measurement segment offset growth in other businesses. Revenues at the test and measurement business are forecast at $2.9bn for 2013.

Sullivan added, “"Agilent's history is one of reinvention, starting with our separation from HP and including four major spinoffs since 2005. We are once again making a bold move, as we have done many times in the past, to ensure a future of sustainable growth for both the LDA and EM companies. We are focused on making this transition seamless for our customers.”