International. Johnson Controls reported that George R. Oliver has determined it is time to initiate a succession plan for his role as Chief Executive Officer, following the company's progress in transforming its portfolio.
Oliver has led the transformation of Johnson Controls' business and portfolio since becoming the company's president and CEO in 2017.
Accordingly, the Johnson Controls Board has begun a thorough search for the company's next chief executive officer with the assistance of a nationally recognized executive search firm to assist in the evaluation of internal and external candidates. Oliver will continue to serve as President and Chief Executive Officer until a successor is appointed and will remain Chairman of the Board once the new Chief Executive Officer is appointed to allow for a smooth transition in management.
"It has been a true honor to serve as CEO of Johnson Controls. I am proud of the remarkable success we have achieved over the past few years to position our company as an exclusive provider of comprehensive solutions for commercial buildings. As we approach the completion of our business transformation and move into the next phase of growth, I believe now is the right time to begin the process of identifying the next leader of the new Johnson Controls," Oliver said. "Today, Johnson Controls is a leading provider of technology and solutions that make buildings smarter, creating a unique offering that creates value for customers and shareholders. Following this important milestone in the transformation of our portfolio, 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 reaches its full potential."
"On behalf of the Board, I thank George for his unwavering passion, leadership and commitment to Johnson Controls over the past seven years and since our merger 
with Tyco," said Jürgen Tinggren, lead independent director of Johnson Controls. "As President and Chief Executive Officer, George has successfully led Johnson Controls through a period of significant evolution, with a clear vision to optimize the company to deliver greater value to our customers, employees and shareholders. The board will work closely with George to conduct a thorough and comprehensive search to identify the best person to lead the future of Johnson Controls."
Board of Directors Renewal
As part of the company's board renewal efforts and following a constructive dialogue with Elliott Investment Management L.P., Johnson Controls has appointed Patrick Decker to its board, effective immediately. Decker previously served as President and Chief Executive Officer of Xylem Inc. prior to his retirement. With the appointment, the board is composed of 13 directors, 12 of whom are independent.
"Patrick is a fantastic addition of a world-class executive with experience transforming Xylem from an industrial products company to an advanced technology, services and solutions company," said Tinggren. "Patrick's appointment reflects our commitment to continually revamp our board of directors to ensure that the skills and experiences of our directors appropriately reflect the transformation of Johnson Controls' business. We welcome Patrick to the board and are excited to benefit from the experience and expertise he will bring."
