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CORK, Ireland - Johnson Controls (NYSE:JCI), a $51 billion market cap company specializing in smart and sustainable building solutions and a prominent player in the Building Products industry according to InvestingPro, has announced the appointment of Joakim Weidemanis as the new Chief Executive Officer, effective March 12, 2025, after the Annual General Meeting of Shareholders. Weidemanis will take over from George R. Oliver, who has been at the helm during a period of significant transformation for the company. Oliver will transition to the role of Non-Executive Chairman of the Board until July 31, 2025, and will remain as an advisor to the company until the end of the year to support the leadership transition.
Weidemanis brings to Johnson Controls a wealth of experience from his 13-year tenure at Danaher Corporation (NYSE:DHR), where he most recently managed an approximately $15 billion group as Executive Vice President, Diagnostics and China. His leadership is credited with substantial revenue growth through acquisitions and organic expansion. He joins Johnson Controls as it generates annual revenue of $22.95 billion and maintains a strong dividend history of 54 consecutive years of payments. Prior to Danaher, he held executive roles at Mettler Toledo and ABB (ST:ABB), and has worked across the United States, Europe, and Asia.
The Board, led by independent director Jürgen Tinggren, expressed confidence in Weidemanis’s suitability to guide Johnson Controls into its next growth phase. Tinggren highlighted Weidemanis’s track record in scaling global businesses and his alignment with the company’s service-oriented approach and operating model.
Weidemanis expressed his enthusiasm for Johnson Controls’ mission-driven culture and its legacy of innovation. He aims to build on the foundation laid by Oliver and the team, focusing on delivering value for customers, employees, and shareholders.
Oliver praised Weidemanis as the ideal successor, noting the transformation Johnson Controls has undergone to become a more streamlined and growth-oriented company. He looks forward to collaborating with Weidemanis to ensure a smooth transition.
In related news, Johnson Controls reported its fiscal first quarter 2025 earnings results and provided financial guidance for the second quarter and updated guidance for the full year 2025 in a separate press release issued today. The company’s stock has shown remarkable strength with a 47.93% return over the past year. For deeper insights into Johnson Controls’ financial health and detailed analysis, including additional ProTips and comprehensive metrics, visit InvestingPro, where you’ll find expert research reports and advanced analytical tools.
This leadership change announcement is based on a press release statement issued by Johnson Controls.
In other recent news, Johnson Controls has undergone several significant changes. The company was recently downgraded from Buy to Hold by Melius analysts, with a new price target set at $95. This decision was influenced by concerns over future price-to-earnings ratios, despite no immediate worries about the company’s earnings results for 2025 or 2026. In addition, Melius expressed apprehension about the sustainability of the current capital expenditure trend, particularly regarding artificial intelligence investments.
In other developments, Johnson Controls has announced a reshuffling of its top management roles. Julie Brandt, previously Vice President and President of Building Solutions North America, has been appointed as Vice President and President of Global Field Operations. Concurrently, Nathan Manning, former Chief Operations Officer for Global Field Operations, has assumed Brandt’s former position.
Furthermore, Johnson Controls disclosed the upcoming retirement of board member Simone Menne, effective after the company’s annual general meeting in March 2025. The company also announced the pricing of an additional $250 million in senior notes due 2032, with the proceeds intended for general corporate purposes. These developments are part of the recent shifts within Johnson Controls.
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