Johnson Controls and Tyco Announce Future Executive Leadership Team Upon Close of Planned Merger
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MILWAUKEE and CORK, Ireland, May 27, 2016 - Johnson Controls (NYSE: JCI) and Tyco International (NYSE: TYC) today announced the senior executive team that will lead the combined company following the close of their planned merger, which is expected on or around Oct. 1, 2016.
As previously announced, at the effective time of the merger, Johnson Controls chairman and chief executive officer Alex Molinaroli will be appointed to the same role for the combined company. Tyco chief executive officer George Oliver will serve as president and chief operating officer, with responsibility for the operating businesses and leading the integration, and will become a director on the new company's board. Mr. Molinaroli will serve as chairman and chief executive officer for 18 months after the closing. At that time, Mr. Oliver will become chief executive officer and Mr. Molinaroli will become executive chair for one year, after which Mr. Oliver will become chairman and chief executive officer.
"We are pleased to reach this major milestone on our journey to bring two great companies together to create a global leader in building products and technology, integrated solutions and energy storage," said Mr. Molinaroli. "This team of talented executives will ensure the combined company continues to thrive, grow and create unique value for our customers and shareholders. We are looking forward to bringing our complementary capabilities together to turn the possibilities for smart buildings and urban environments into reality around the world."
Corporate Executive Officers
In addition to Mr. Oliver, upon completion of the merger the following enterprise leaders will report to Mr. Molinaroli:
Grady Crosby will serve as vice president, public affairs chief diversity officer - currently holds the same role with Johnson Controls
Simon Davis will serve as vice president chief human resources officer - currently holds the same role with Johnson Controls
Kim Metcalf-Kupres will serve as vice president chief marketing officer - currently holds the same role with Johnson Controls
Judy Reinsdorf will serve as executive vice president & general counsel - currently holds the same role with Tyco
John Repko will serve as vice president & chief information officer - currently chief information officer & enterprise transformation leader with Tyco
Brian Stief will serve as executive vice president & chief financial officer - currently holds the same role with Johnson Controls
Jeff Williams will serve as vice president, operations & engineering - currently holds the same role with Johnson Controls
Business Leaders
Upon completion of the merger, the following business leaders will report to Mr. Oliver:
Bill Jackson, executive vice president & president, Building Efficiency
Trent Nevill, vice president & president, Asia Pacific
Colleen Repplier, president, Fire Protection Products
Girish Rishi, executive vice president, North America Integrated Solutions & Services and Tyco Retail Solutions
Mike Ryan, president, Security Products and Life Safety Products
Johan Pfeiffer, executive vice president, Rest of World Integrated Solutions & Services
Joe Walicki, vice president & president, Power Solutions
Until the close of the transaction, Johnson Controls and Tyco will continue to operate independently under their current leadership structures.
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 150,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2016, Corporate Responsibility Magazine recognized Johnson Controls as the #17 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit www.johnsoncontrols.com.
About Tyco
Tyco (NYSE: TYC) is the world's largest pure-play fire protection and security company. Tyco provides more than three million customers around the globe with the latest fire protection and security products and services. Tyco has over 57,000 employees in more than 900 locations across 50 countries serving various end markets, including commercial, institutional, governmental, retail, industrial, energy, residential and small business. For more information, visit www.tyco.com.
Contacts
Johnson Controls
Investors:
Kathryn Campbell
414-524-2085
Media:
Fraser Engerman
414-524-2733
Tyco
Investors:
Antonella Franzen
609-720-4665
Ryan Edelman
609-720-4545
Media:
Stephen Wasdick
609-806-2262
SOURCE Johnson Controls
Web Site: www.johnsoncontrols.com
