Johnson Controls says George Oliver, currently president and COO, will assume the role of chairman and CEO from 1 September, six months earlier than previously announced.
The acceleration was unanimously approved by the company’s board, with Alex Molinaroli, currently chairman and CEO, to leave the company and the board effective 1 September.
In addition, the company announced Jürgen Tinggren, chairman of the audit committee and member of the executive committee, has been appointed lead independent director of the Johnson Controls board of directors, effectively immediately. Separately, the company announced Jeffrey Joerres has stepped down from the board of directors.
“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,” said 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.”