Johnson Controls International plc., has appointed George Oliver, currently president and chief operating officer, as the chairman and CEO, effective September 1, 2017. The acceleration was unanimously approved by the company’s board of directors. Molinaroli, currently chairman and CEO, will leave the company and the board effective September 1, 2017.
In addition, the company announced that Jürgen Tinggren, chair of the audit committee and a member of the executive committee, has been appointed lead independent director of the Johnson Controls board of directors, effectively immediately. Separately, the company announced that Jeffrey A. Joerres has stepped down from the board of directors.Johnson Controls International plc., has appointed George Oliver, currently president and chief operating officer, as the chairman and CEO, effective September 1, 2017. The acceleration was unanimously approved by the company's board of directors. Molinaroli, currently chairman and CEO, will leave the company and the board effective September 1, 2017.#
Tinggren said, “Given the progress made on the merger integration as we approach the one-year anniversary and upcoming start of a new fiscal year, this is an opportune and appropriate time to implement this planned leadership succession. 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.”
Oliver said, “As CEO, I will continue working with the board and our employees around the world to deliver on the Johnson Controls promise to make the world a more productive, secure and sustainable place. I would like to thank Alex for his direction and partnership, both before and during this critical year of change.”
Molinaroli said, “It’s been an honour to lead Johnson Controls since 2013, and I want to thank all of our employees for their continued trust, commitment and incredible contributions. The company has a great strategic foundation and is well-positioned for growth as a market leader in buildings and energy solutions. I’m confident as I’ve worked with George over the past year that he and his management team are well-positioned to propel the company forward.” (GK)
Fibre2Fashion News Desk – India
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