Tag: Patrick Decker
'We will be a simpler, higher-growth company' - Johnson Controls divests businesses as Oliver bows out
August 5, 2024Ken Showers, Managing Editor
CORK, Ireland — Johnson Controls’ sales in the third quarter were steady as the company continues to transform its business, including through divestitures, to better fit a leaner and more competitive industrial market.
The company reported sales of $7.2 billion, a 1% increase year over year. GAAP net income was $975 million. Adjusted net income was $769 million. The company also reported 10% growth to its backlog in the quarter, which Chairman and CEO George Oliver said increases...
Johnson Controls CEO George R. Oliver to retire
August 2, 2024SSN Staff
CORK, Ireland—Johnson Controls announced that George R. Oliver will retire following the company's substantial progress on its portfolio transformation.
Oliver has led the Johnson Controls' business and portfolio transformation since becoming Johnson Controls chairman and CEO in 2017. He will continue to serve as chairman and CEO until a successor is named and will remain chair of the board once the new CEO is named to allow for a smooth management transition.
"It has...