Johnson Controls International plc
Johnson Controls Announces CEO Succession Plan and New Director Appointment
Summary
Johnson Controls International plc announced the initiation of its CEO succession plan following the substantial progress on its portfolio transformation. Effective July 31, 2024, George R. Oliver, the Chairman and CEO, informed the Board of his plan to retire and requested the Board to begin the succession process. The Board has started a comprehensive search for the next CEO with the assistance of an executive search firm. Additionally, Patrick K. Decker was appointed as a new, independent director, effective immediately, to serve on the Compensation and Talent Development Committee of the Board. In connection with this appointment, Mr. Decker will receive compensation and a restricted share unit award. The Company also announced special retention RSU awards for its Executive Vice President and Chief Financial Officer, and Vice President and President, Global Products.
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About Johnson Controls International plc
Johnson Controls International plc is a leading diversified technology and multi-industrial company that provides a wide range of products and services across various industries. Its primary function is to optimize building efficiencies, enhance comfort, and ensure safety. The company is widely recognized for its Building Technologies and Solutions division, which offers integrated platforms for HVAC (heating, ventilation, air conditioning), building automation, and security systems. Additionally, Johnson Controls plays a pivotal role in the energy sector through its power solutions, particularly with a focus on developing state-of-the-art battery technologies for automotive and renewable energy applications. As a global leader headquartered in Cork, Ireland, Johnson Controls serves various sectors including residential, commercial, and industrial markets. Its commitment to sustainability and innovation positions it as a significant player in advancing smart building and energy solutions on a global scale.
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