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    Johnson Controls International PLC (JCI)

    Board Change

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    Business Description

    Johnson Controls International plc (JCI) is a global leader in smart, healthy, and sustainable building solutions, serving customers in over 150 countries. The company operates through four business segments, providing a range of services including the design, sale, installation, and servicing of HVAC systems, controls, building management, refrigeration, integrated electronic security, and fire-detection and suppression systems . JCI also offers energy-efficiency solutions and technical services, leveraging its extensive product portfolio and digital capabilities through its OpenBlue platform to deliver integrated and customizable solutions .

    1. Global Products - Designs, manufactures, and sells HVAC equipment, controls software and services, refrigeration equipment and controls, fire protection and suppression systems, and security products such as intrusion security, anti-theft devices, access control, and video surveillance systems .
    2. Building Solutions North America - Designs, sells, installs, and services HVAC systems, controls, building management, refrigeration, integrated electronic security, and integrated fire-detection and suppression systems .
    3. Building Solutions EMEA/LA - Provides similar offerings as the North America segment, focusing on the Europe, Middle East, Africa, and Latin America regions .
    4. Building Solutions Asia Pacific - Offers the same range of products and services as other regional segments, tailored for the Asia Pacific market .

    Key Metrics

    View all financials →

    Executive Team

    NamePositionStart DateShort Bio
    George R. OliverChairman and Chief Executive OfficerSeptember 2017George R. Oliver has been serving as the Chairman and CEO of JCI since September 2017. Previously, he was the President and COO following the merger of Johnson Controls and Tyco in September 2016 .
    Marc VandiepenbeeckExecutive Vice President and Chief Financial OfficerJanuary 2024Marc Vandiepenbeeck has served as EVP and CFO of JCI since January 2024. He previously held the position of VP and President, Building Solutions, EMEA and Latin America from August 2023 until November 2024 .
    John DonofrioExecutive Vice President and General CounselNovember 2017John Donofrio has served as EVP and General Counsel of JCI since November 2017. Before joining JCI, he was VP, General Counsel, and Secretary of Mars, Incorporated from October 2013 to November 2017 .
    Marlon SullivanExecutive Vice President and Chief Human Resources OfficerSeptember 2021Marlon Sullivan has served as EVP and CHRO at JCI since September 2021. Before joining JCI, he was the SVP of Human Resources at Delta Airlines from January 2021 to September 2021 .
    Lei Zhang SchlitzVice President and President, Global ProductsNovember 2022Lei Zhang Schlitz has served as VP and President, Global Products at JCI since November 2022. Before joining JCI, she was the EVP, Automotive OEM at Illinois Tool Works Inc. from 2019 until October 2022 .
    Julie BrandtVice President and President, Building Solutions North AmericaApril 10, 2023Julie Brandt has served as VP and President, Building Solutions North America at JCI since April 10, 2023. Before joining JCI, she was the EVP and General Manager, North America Western Region at Otis Worldwide Corp .
    Richard LekVice President and President, Building Solutions, EMEA and Latin AmericaNovember 2024Richard Lek has served as VP and President, Building Solutions, EMEA and Latin America at JCI since November 2024. He has been with JCI since 2002, holding various roles of increasing responsibility .
    Nathan ManningVice President and Chief Operations Officer, Global Field OperationsDecember 2022Nathan Manning has served as VP and COO, Global Field Operations at JCI since December 2022. Prior to this role, he was the VP and President of Building Solutions, North America from October 2020 until March 2023 .
    Daniel C. "Skip" McConeghyVice President, Chief Accounting and Tax OfficerJune 2022Daniel C. "Skip" McConeghy has served as VP, Chief Accounting and Tax Officer at JCI since June 2022. Prior to this role, he was VP, Global Tax from October 2020 until June 2022 .
    Anu RathnindeVice President and President, Building Solutions, Asia PacificMay 2022Anu Rathninde has served as VP and President, Building Solutions, Asia Pacific at JCI since May 2022. Prior to joining JCI, he held various leadership roles at Aptiv plc .

    Questions to Ask Management

    1. The Global Products business reported an adjusted segment EBITDA margin expansion of 700 basis points to 28% in Q4 ; were there any one-time factors or mix effects contributing to this, and how sustainable are these margin levels going forward?
    2. With the announced restructuring plan expected to deliver $500 million of benefits over time , can you provide more detail on the specific areas targeted for cost reductions, and explain how and when these benefits will be reflected in your financials?
    3. You indicated that the effective tax rate is expected to increase by 400 to 500 basis points in fiscal 2026 due to global tax reforms ; what specific changes are driving this increase, and what strategies are you considering to mitigate its impact on net earnings?
    4. Given your record backlog of $13.1 billion at the end of fiscal 2024 driven by data center demand , do you expect backlog levels to remain consistent, decline, or grow in fiscal 2025, especially considering potential fluctuations in key verticals?
    5. Aside from data centers, can you elaborate on the performance of applied sales in North America across other key verticals such as health care, manufacturing, and commercial real estate, and highlight any positive or negative trends affecting these sectors ?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateMarch 2021
    End Date/DurationNo expiration date
    Total additional amountN/A
    Remaining authorization amount$1.7 billion
    DetailsMay be amended or terminated by the Board of Directors at any time without prior notice

    Debt Maturity Schedule

    YearAmount Due (in millions)Debt TypeInterest Rate% of Total Debt
    2024953 Short-Term Debt4.8% 10.0% = (953 / 9,493) * 100
    2025536 1.375% Euro Notes1.375% 5.6% = (536 / 9,493) * 100
    2026544 3.900% USD Notes3.900% 5.7% = (544 / 9,493) * 100
    2027776 0.375% Euro Notes & TORF + 0.40% Japanese Yen Notes0.375% 8.2% = (776 / 9,493) * 100
    2028676 3.000% Euro Notes3.000% 7.1% = (676 / 9,493) * 100
    2029707 5.500% USD Notes5.500% 7.4% = (707 / 9,493) * 100
    After 20295,329 Various Long-Term NotesVarious 56.1% = (5,329 / 9,493) * 100

    Competitors

    Competitors mentioned in the company's latest 10K filing.

    • Honeywell International, Inc.
    • Siemens Smart Infrastructure, an operating group of Siemens AG
    • Schneider Electric SA
    • Carrier Global Corporation
    • Trane Technologies plc
    • Daikin Industries, Ltd.
    • Lennox International, Inc.
    • GC Midea Holding Co, Ltd.
    • Gree Electric Appliances, Inc.

    These companies are mentioned as competitors in the HVAC equipment, security, fire-detection, fire suppression, and controls markets in both residential and non-residential sectors .

    Auditor

    NameStart DateEnd DateReason for Change
    PricewaterhouseCoopers LLP (PwC)September 2, 2016 PresentCurrent auditor.
    Deloitte & Touche LLPN/ASeptember 2, 2016 The audit committee approved the dismissal. No disagreements or reportable events.

    Latest news

    Recent developments and announcements about JCI.

    Corporate Leadership

      Leadership Change

      ·
      Jan 10, 2025, 9:46 PM

      Julie Brandt is leaving her role as Vice President and President, Building Solutions North America, to become Vice President and President, Global Field Operations. Nathan Manning is stepping up to take over her previous position as Vice President and President, Building Solutions North America. This transition is part of the company's initiatives to drive simplification and growth and is effective immediately.

      Board Change

      ·
      Dec 12, 2024, 9:44 PM

      Simone Menne has notified the Board of Directors of Johnson Controls International plc that she will not seek re-election and will retire from the Board at the 2025 Annual General Meeting of Shareholders scheduled for March 12, 2025. Her retirement will be effective on that date .

    Financial Reporting

      Auditor Changes

      ·
      Sep 9, 2016, 12:00 AM

      JCI Auditor Change

      On September 8, 2016, JCI's audit committee approved the dismissal of Deloitte & Touche LLP as the company's independent registered public accounting firm. The dismissal was effective as of September 2, 2016. Subsequently, JCI engaged PricewaterhouseCoopers (PwC) as its new independent registered public accounting firm, also effective from September 2, 2016. There were no disagreements or reportable events with Deloitte during the fiscal years leading up to this change .