Johnson Controls To Accelerate Leadership Succession

Cork, Ireland — Effective September 1, 2017, George Oliver, currently president and chief operating officer of Johnson Controls International plc, will become chairman and CEO. This action accelerates the move of Oliver to his new position 6 months earlier than previously announced. Alex Molinaroli, currently chairman and CEO, will leave the company and the board effective September 1, 2017.

In addition, the company has appointed Jürgen Tinggren, chair of the audit committee and a member of the executive committee, to lead independent director of the Johnson Controls board of directors, effectively immediately. Separately, Jeffrey A. Joerres has stepped down from the board of directors.

"Given the progress made on the [Tyco] merger integration as we approach the 1-year anniversary and upcoming start of a new fiscal year, this is an opportune and appropriate time to implement this planned leadership succession,” says Tinggren. “The board has been impressed by George's leadership and oversight of the integration, and we believe accelerating the transition provides clarity and continuity as we move into the next phase and continue to deliver the benefits of the transaction and enhance long term shareholder value.

Johnson Controls is a global diversified technology and multi-industrial leader serving a wide range of customers in more than 150 countries. The company creates intelligent buildings, efficient energy solutions, integrated infrastructure and next generation transportation systems that work seamlessly together to deliver on the promise of smart cities and communities. For more information, visit http://www.johnsoncontrols.com.

SOURCE: Johnson Controls

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