Johnson Controls, Inc.’s board of directors announced that Stephen A. Roell, executive vice president and vice chairman, has been elected chief executive officer effective October 1, 2007. He was also elected chairman of Johnson Controls’ board of directors effective January 1, 2008.
Roell will succeed John M. Barth, who will retire December
31, 2007. Barth will continue as a member
of the company’s board of directors. "John has been a truly exceptional
leader, and our customers, employees and shareholders have all benefited significantly
during his tenure," Roell said.
"In 2002, when he became CEO, Johnson Controls had
sales of just over $20 billion. Through
his focus on unparalleled customer service, operational excellence, workforce
and supplier diversity, and especially the development of strong leaders across
the company, we will end 2007 with sales of approximately $34.5 billion and an
unbroken track record of 17 consecutive years of earnings increases,” Roell
“Additionally, Johnson Controls market capitalization has
increased from $7 billion to over $22 billion since 2002. John has also established a tremendously strong
foundation upon which our company will continue to grow and deliver outstanding
results to all of our stakeholders.”
Barth said, "It’s clear to me that Steve and the management
team are extremely well-qualified to further strengthen the leadership position
of the company. They have enormous
business acumen, solid relationships with our customers around the globe, and a
strong belief in the importance of our people. I am proud of our company’s achievements,
and I am confident that Steve will continue to build Johnson Controls’
excellent reputation as a world-class organization.”
A 25-year veteran of the company, Roell said that, as CEO,
his priorities will remain aligned with the organization’s current direction to
further the success of the company.
“We will continue to be a diversified multi-industrial
company, dedicated to improving comfort, safety and sustainability with
innovative products and services for the places where people live, work and
travel,” Roell said. “With a focus on
technology and global fluency, Johnson Controls is dedicated
to helping make its customers more successful.
We have substantial opportunities for growth around the world. In particular, we will seek to strengthen
our leadership in the emerging markets through support of our global and
Roell added that “Johnson Controls has a wide array of
sustainability-oriented solutions that save energy, reduce greenhouse gas
emissions, and protect the environment, and we will be aggressive in bringing
them to our customers.” Barth, 61,
joined the company in 1969. He served in a variety of operating management
positions, including heading Johnson Controls' automotive business for eight years before becoming president and chief
operating officer in 1998. He was
elected CEO in 2002. Barth was elected to
Johnson Controls’ board of directors in 1997.
Roell, 57, was named vice chairman in 2005 and executive
vice president in 2004. He served as senior vice president and chief financial officer
from 1991 to 2004. He joined the company in 1982 and was elected to Johnson Controls’
board of directors in 2004.
Roell will become the eighth CEO in the company’s