JOHNSON CONTROLS ANNOUNCES INITIATION OF CEO SUCCESSION FOLLOWING SIGNIFICANT MILESTONES IN PORTFOLIO TRANSFORMATION
Johnson Controls (NYSE: JCI) has announced the initiation of its CEO succession plan, with George R. Oliver planning to retire as CEO while remaining chair of the Board. This decision follows significant progress in the company's portfolio transformation. The Board has begun a comprehensive search for the next CEO, evaluating both internal and external candidates.
In addition, as part of ongoing Board refreshment efforts and following constructive dialogue with Elliott Investment Management, Patrick Decker has been appointed as a new, independent director. Decker, former president and CEO of Xylem Inc., brings valuable experience in transforming industrial companies into advanced technology and solutions enterprises.
These changes reflect Johnson Controls' commitment to optimizing its position as a pure-play provider of comprehensive solutions for commercial buildings, aiming to drive greater value for customers and shareholders.
Johnson Controls (NYSE: JCI) ha annunciato l'avvio del suo piano di successione per il CEO, con George R. Oliver che prevede di ritirarsi dalla carica di CEO, mantenendo tuttavia il ruolo di presidente del Consiglio. Questa decisione segue i significativi progressi nella trasformazione del portafoglio dell'azienda. Il Consiglio ha avviato una ricerca approfondita per il prossimo CEO, valutando sia candidati interni che esterni.
Inoltre, come parte degli sforzi continui per rinnovare il Consiglio e a seguito di un dialogo costruttivo con Elliott Investment Management, Patrick Decker è stato nominato nuovo direttore indipendente. Decker, ex presidente e CEO di Xylem Inc., porta un'esperienza preziosa nella trasformazione delle aziende industriali in imprese di tecnologia avanzata e soluzioni.
Questi cambiamenti riflettono l'impegno di Johnson Controls a ottimizzare la propria posizione come fornitore specializzato di soluzioni complete per edifici commerciali, con l'obiettivo di generare maggiore valore per clienti e azionisti.
Johnson Controls (NYSE: JCI) ha anunciado el inicio de su plan de sucesión para el CEO, con George R. Oliver planeando retirarse como CEO, mientras sigue siendo presidente de la Junta. Esta decisión sigue a un progreso significativo en la transformación de la cartera de la empresa. La Junta ha comenzado una búsqueda completa para el próximo CEO, evaluando tanto candidatos internos como externos.
Además, como parte de los esfuerzos continuos de renovación de la Junta y tras un diálogo constructivo con Elliott Investment Management, Patrick Decker ha sido nombrado nuevo director independiente. Decker, ex presidente y CEO de Xylem Inc., aporta una valiosa experiencia en la transformación de empresas industriales en empresas de tecnología avanzada y soluciones.
Estos cambios reflejan el compromiso de Johnson Controls de optimizar su posición como proveedor especializado de soluciones integrales para edificaciones comerciales, buscando generar un mayor valor para clientes y accionistas.
Johnson Controls (NYSE: JCI)는 CEO 승계 계획을 시작한다고 발표했습니다. George R. Oliver가 CEO로서 은퇴할 계획을 세우고 있지만 이사회 의장은 계속 유지할 것입니다. 이 결정은 회사의 포트폴리오 혁신에서의 중요한 진전을 따릅니다. 이사회는 다음 CEO를 위한 포괄적인 검색을 시작했으며, 내부 및 외부 후보를 모두 평가하고 있습니다.
또한 지속적인 이사회 갱신 노력의 일환으로 Elliott Investment Management와의 건설적인 대화 이후, Patrick Decker가 새로운 독립 이사로 임명되었습니다. Decker는 Xylem Inc.의 전 사장 겸 CEO로, 산업 회사를 고급 기술 및 솔루션 기업으로 변모시키는 귀중한 경험을 가지고 있습니다.
이러한 변화는 Johnson Controls가 상업 건물에 대한 포괄적 솔루션의 전문 제공업체로서의 입지를 최적화하는 데 전념하고 있음을 반영하며, 고객과 주주에게 더 큰 가치를 제공하기 위한 것입니다.
Johnson Controls (NYSE: JCI) a annoncé le lancement de son plan de succession pour le PDG, avec George R. Oliver prévoyant de prendre sa retraite en tant que PDG tout en restant président du Conseil d'administration. Cette décision fait suite à des progrès significatifs dans la transformation du portefeuille de l'entreprise. Le Conseil a commencé une recherche complète pour le prochain PDG, évaluant à la fois des candidats internes et externes.
De plus, dans le cadre des efforts continus de renouvellement du Conseil et après un dialogue constructif avec Elliott Investment Management, Patrick Decker a été nommé nouveau directeur indépendant. Decker, ancien président et PDG de Xylem Inc., apporte une expérience précieuse dans la transformation des entreprises industrielles en entreprises de technologies avancées et de solutions.
Ces changements reflètent l'engagement de Johnson Controls à optimiser sa position en tant que fournisseur exclusif de solutions complètes pour les bâtiments commerciaux, visant à créer une plus grande valeur pour les clients et les actionnaires.
Johnson Controls (NYSE: JCI) hat die Einleitung seines CEO-Nachfolgeplans angekündigt, wobei George R. Oliver plant, als CEO zurückzutreten, während er den Vorsitz des Vorstands behält. Diese Entscheidung folgt auf erhebliche Fortschritte in der Transformation des Unternehmensportfolios. Der Vorstand hat mit einer umfassenden Suche nach dem nächsten CEO begonnen und bewertet sowohl interne als auch externe Kandidaten.
Darüber hinaus wurde im Rahmen der laufenden Bemühungen zur Erneuerung des Vorstands und nach einem konstruktiven Dialog mit Elliott Investment Management Patrick Decker als neuen unabhängigen Direktor ernannt. Decker, ehemaliger Präsident und CEO von Xylem Inc., bringt wertvolle Erfahrungen in der Transformation von Industrieunternehmen in Unternehmen für fortschrittliche Technologien und Lösungen mit.
Diese Veränderungen spiegeln das Engagement von Johnson Controls wider, seine Position als reiner Anbieter umfassender Lösungen für gewerbliche Gebäude zu optimieren, mit dem Ziel, einen größeren Wert für Kunden und Aktionäre zu schaffen.
- Successful completion of portfolio transformation to a pure-play provider of building solutions
- Appointment of Patrick Decker as new independent director, bringing valuable industry experience
- Constructive dialogue with major investor Elliott Investment Management
- Planned smooth transition with current CEO remaining as Board chair
- Potential uncertainty during CEO transition period
- Possible short-term disruption in company strategy or operations during leadership change
- George R. Oliver to retire as CEO and remain chair of the Board, following appointment of successor
- Advances Board refreshment with appointment of Patrick Decker as a new, independent director; Appointment follows Constructive Dialogue with Elliott Management
Accordingly, the Johnson Controls Board has begun a comprehensive search for the Company's next CEO with the assistance of a nationally recognized executive search firm to aide in the evaluation of internal and external candidates. Oliver will continue to serve as chairman and CEO until a successor is named and will remain chair of the Board once the new CEO is named to allow for a smooth management transition.
"It has been a true honor to serve as CEO of Johnson Controls. I am proud of the remarkable success we have achieved in recent years to position our company as a pure-play provider of comprehensive solutions for commercial buildings. As we approach the completion of our business transformation and move to the next phase of growth, I believe that now is the right time to begin the process of identifying the next leader of the new Johnson Controls," said Oliver. "Today, Johnson Controls is a leading provider of technology and solutions that make buildings smarter, creating a one-of-a-kind offering that drives value for customers and shareholders. Following this substantial milestone in our portfolio transformation, I am confident that Johnson Controls is solidly positioned for its next chapter, and I look forward to supporting the team to help ensure the Company achieves its full potential."
"On behalf of the Board, I thank George for his unwavering passion, leadership and commitment to Johnson Controls over the last seven years and since our merger with Tyco," said Jürgen Tinggren, Johnson Controls lead independent director. "As chairman and CEO, George has successfully led Johnson Controls through a period of significant evolution, with a clear vision to optimize the Company to deliver greater value for our customers, employees and our shareholders. The Board will work closely with
Board Refreshment
As part of the Company's ongoing Board refreshment efforts and following a constructive dialogue with Elliott Investment Management L.P. (together with its affiliates, "Elliott"), Johnson Controls appointed Patrick Decker to serve on its Board, effective immediately. Decker previously served as president and CEO of Xylem Inc. prior to his retirement. With the appointment, the Board is comprised of 13 directors, 12 of whom are independent.
"Patrick is a fantastic addition of a world-class executive with experience transforming Xylem from an industrial products company to an advanced technology, services and solutions enterprise," said Tinggren. "Patrick's appointment reflects our commitment to continuously refresh our board to ensure the skills and experiences of our directors appropriately reflect Johnson Controls' transforming business. We welcome Patrick to the Board and are excited to benefit from the experience and expertise he will bring."
"Over the last several years under
About George Oliver
George R. Oliver is Chairman and Chief Executive Officer of Johnson Controls. Prior to becoming CEO on Sept. 1, 2017, he served as president and chief operating officer with responsibility for the company's operating businesses. He also led the integration of Johnson Controls and Tyco following their September 2016 merger.
Prior to Tyco,
About Patrick Decker
Patrick Decker is the retired president and CEO of Xylem Inc., a leading water technology provider. Decker served as president and CEO from March 2014 through December 2023.
Prior to leading Xylem, Patrick served as president and CEO of Harsco Corporation, a global industrial products company, from 2012 until 2014. Prior to Harsco, he served in various leadership roles at Tyco from 2003 until 2012, including as president, Tyco Flow Control, a global provider of industrial solutions to the energy and water sectors.
Prior to Tyco, Patrick served with Bristol-Myers Squibb for twelve years in financial and operational roles, predominantly in its
Patrick holds a Bachelor of Science degree in Accounting and Finance from
About Johnson Controls
At Johnson Controls (NYSE: JCI), we transform the environments where people live, work, learn and play. As the global leader in smart, healthy and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places and the planet.
Building on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing and beyond through OpenBlue, our comprehensive digital offering.
Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world's largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.
Visit www.johnsoncontrols.com for more information and follow @Johnson Controls on social platforms.
JOHNSON CONTROLS INTERNATIONAL PLC CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS
Johnson Controls International plc has made statements in this communication that are forward-looking and therefore are subject to risks and uncertainties. All statements in this document other than statements of historical fact are, or could be, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, these forward-looking statements can be identified by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements include, among other things, statements relating to the Company's Chief Executive Officer succession plan. Investors are therefore cautioned not to place undue reliance on any forward-looking statements. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond its control, that could cause its actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, the risks contained in the section entitled "Risk Factors" in Johnson Controls Annual Report on Form 10-K for the fiscal year filed with the SEC, which is available at www.sec.gov and www.johnsoncontrols.com under the "Investors" tab, and such factors may be updated from time to time in Johnson Controls filings with the SEC, which are or will be accessible on the SEC's website at www.sec.gov. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this communication are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this communication.
Investor Contacts:
Jim Lucas
Direct: 1-414-340-1752
Email: jim.lucas@jci.com
Media Contact:
Trent Perrotto
Direct : 1-414-524-8687
Email : media@jci.com
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SOURCE JOHNSON CONTROLS, INC
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