Johnson Controls International announced Monday that President and COO George Oliver will assume the role of chairman and chief executive officer on Sept. 1. The action accelerates Oliver's transition to his new positions by six months, the diversified manufacturing company said, and was unanimously approved by the board of directors.
Jurgen Tinggren, chair of Johnson Controls' audit committee, cited the approaching one-year anniversary of the company's merger with Tyco, as well as the upcoming start of a new fiscal year, as factors in the acceleration of the planned leadership change.
"We believe accelerating the transition provides clarity and continuity as we move into the next phase," Tinggren said in a news release.
Alex Molinaroli, the current CEO and chairman, will leave both positions effective Sept. 1.