Europe: Johnson Controls in search for new CEO

Industrial machine manufacturer Johnson Controls this week announced George R. Oliver has decided to stand down as CEO, following “substantial progress on its portfolio transformation.” The Irish company is now on the hunt for its next CEO with the assistance of an executive search firm to help evaluate internal and external candidates. 
 

George Oliver said: "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. 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."

Jürgen Tinggren, Johnson Controls' lead independent director, thanked Oliver for his "unwavering passion, leadership, and commitment to Johnson Controls over the last seven years and since our merger with Tyco." He said: "The board will work closely with George to conduct a thorough and comprehensive search to identify the best individual to lead the future of Johnson Controls."