Anu Rathninde
Johnson Controls InternationalAbout Anu Rathninde
Anu Rathninde is Vice President and President, Building Solutions Asia Pacific (APAC) at Johnson Controls, a role he has held since May 2022; he is 55 years old and previously led multiple business units at Aptiv in Asia Pacific and served as Vice President of the Automotive Products Group at Johnson Electric . APAC was formalized as one of three regional reporting segments in April 2025, with Rathninde leading the region under the company’s simplified operating model . Company performance metrics informing executive pay for fiscal 2024 included EBIT growth of 8.8%, revenue growth of 3.6%, and free cash flow conversion of 96%, resulting in annual incentive payouts at 96% of target for named executives, while long-term PSUs for the 2022–2024 cycle vested at 84.3% of target . Strategic priorities highlighted in the proxy include a record $13.1B backlog (+7% YoY) and data center cooling orders more than doubling YoY, which are relevant to APAC demand drivers .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Johnson Controls | VP & President, Building Solutions APAC | May 2022–present | Leads APAC under 2025 regional segment realignment to accelerate growth, simplify portfolio, and align field operations and product channels . |
| Aptiv (Asia Pacific) | President, Electrical Distribution Systems (EDS) | May 2016–Nov 2021 | Drove EDS growth and operations in Asia Pacific, building scale and execution capabilities. |
| Aptiv (Asia Pacific) | President, EDS and Advanced Safety & User Experience (AS&UX) | Nov 2021–May 2022 | Expanded remit into safety and user experience systems across APAC. |
| Johnson Electric | Vice President, Automotive Products Group | Years not disclosed | Managed electric motors/actuators product lines; enhanced OEM relationships and manufacturing execution. |
External Roles
No public company directorships or external board roles for Rathninde were disclosed in company filings .
Fixed Compensation
Compensation specifics (base salary, target bonus, actual bonus) for Rathninde were not disclosed in the latest proxy and 10-K; Johnson Controls does not maintain individual employment agreements with executive officers except where legally required .
Performance Compensation
Johnson Controls’ executive incentives are structured around clear financial and strategic metrics. While Rathninde’s individual outcomes are not disclosed, the enterprise programs and their results for fiscal 2024 and for the 2022–2024 PSU cycle are as follows:
Annual Incentive Performance Program (AIPP) – FY2024
| Metric | Weight | Threshold | Target | Maximum | Actual | Payout (% of element) |
|---|---|---|---|---|---|---|
| EBIT Growth | 1/3 | 7.0% | 12.6% | 19.0% | 8.8% | 66% |
| Revenue Growth | 1/3 | 3.0% | 5.5% | 8.0% | 3.6% | 62% |
| Free Cash Flow Conversion | 1/3 | 80% | 90% | 100% | 96% | 160% |
| Strategic Initiative Modifier (YOY organic service revenue growth) | ±15% | <7.5% = −15%; >12% = +15% | N/A | N/A | 8.2% (no modifier) | 0% |
| Business Unit Modifier | N/A | N/A | N/A | N/A | Company-wide assessment applied | 100% |
| Individual Modifier (range +10%/−25%) | N/A | N/A | N/A | N/A | Example for NEOs: 100%–110% | e.g., CEO 100%, GC 110% |
| Total AIPP Payout (NEOs) | N/A | — | — | Cap 200% | Aggregate | 96% of target |
Long-Term Incentive (PSUs) – FY2022–FY2024 Cycle
| Metric | Weight | Threshold | Target | Maximum | Actual Performance | Payout (% of element) |
|---|---|---|---|---|---|---|
| Pre-tax Earnings Growth ($) | 1/3 | $818M | $1,000M | $1,435M | $888M | 69% |
| Recurring Revenue ($) | 1/3 | $208M | $535M | $881M | $634M | 129% |
| Relative TSR vs S&P 500 Industrials (percentile) | 1/3 | ≥25th | 50th | ≥75th | 28th | 55% |
| Final PSU Payout | — | — | — | — | — | 84.3% of target |
Vesting mechanics and grant policy (applies to executive equity)
- Composition: PSUs 50%, share options 25%, RSUs 25% in typical annual LTI awards; PSUs cliff vest after 3 years; options vest 50% after 2 years and 50% after 3 years with a 10-year term; RSUs vest in equal installments over 3 years .
- Grant timing: Annual equity awards generally granted on the first business day of December; off-cycle awards on the second business day following the next quarterly earnings release; policy designed to avoid actual/perceived market timing .
Equity Ownership & Alignment
- Ownership guidelines: CEO 6x base salary; all other named executive officers 3x base salary; unvested RSUs count, options and unvested PSUs do not; all NEOs were compliant or within the allowed time to meet guidelines at FY2024 year-end .
- Anti-hedging/anti-pledging: Directors, executive officers, employees are prohibited from hedging, short sales, derivative transactions on JCI shares, and pledging JCI securities (including margin accounts), reducing alignment and leverage risk .
- Beneficial ownership: The proxy discloses beneficial ownership for named executives and directors; Rathninde’s individual shareholdings were not disclosed in those tables .
Employment Terms
Executive officers are covered by Johnson Controls’ Severance and Change-in-Control Policy for Officers (as evidenced by application to other officers in 8-Ks), with double-trigger provisions, no excise tax gross-ups, and restrictive covenants; multiples are explicitly set for CEO and NEOs in the proxy, while officer-level terms for non-NEOs are governed by the same policy framework.
| Provision | Change-in-Control (CIC) | Severance (non-CIC) | Notes |
|---|---|---|---|
| Trigger | Involuntary termination or resignation for Good Reason within 60 days before to 2 years after CIC | Involuntary termination other than for cause/disability/death | Double-trigger for CIC |
| Cash Severance | CEO 3x; Other NEOs 2x of base + target bonus | CEO 2x; Other NEOs 1.5x of base + target bonus | Multiples disclosed for CEO/NEOs |
| Benefits Continuation | 36 months CEO; 24 months NEOs | 24 months CEO; 18 months NEOs | Health plan continuation; retirement contributions top-up |
| Equity | Pro-rated acceleration; PSUs pro-rated (target or actual per plan terms); committee may provide for full vesting under plan | Pro-rated acceleration; PSUs earned based on actual performance at vesting, pro-rated for service | Plan governs post-2021 awards |
| Annual Incentive | Prorated portion of target bonus in year of termination (CIC) | N/A | |
| Gross-ups | None | None | Shareholder-friendly practice |
| Restrictive Covenants | Non-compete 1.5 years; non-solicit 2 years; perpetual non-disparagement/trade secrets confidentiality | Same | Condition of plan participation |
| Employment agreements | Not used except where legally required | — | Governance best practice |
| Officer coverage | Officers subject to Severance/CIC policy per officer appointment filings | — | Policy applies to officers (e.g., VP appointments) |
Investment Implications
- Pay-for-performance rigor: Below-target AIPP (96%) and PSU (84.3%) outcomes for FY2024 and 2022–2024 demonstrate discipline amid mixed revenue and TSR performance, reducing risk of misaligned payouts; program emphasizes EBIT, revenue, FCF, recurring revenue, and relative TSR—metrics likely to govern APAC leadership incentives under Rathninde .
- Selling pressure risk: Standard three-year RSU vesting and two/three-year option vesting stagger realizations; strict anti-hedging/anti-pledging policies plus window-period trading restrictions mitigate forced or leveraged selling risk among executive officers .
- Change-in-control economics: Double-trigger provisions, no gross-ups, and pro-rated equity vesting reduce entrenchment concerns and curb windfall risks; restrictive covenants support retention and protect enterprise value in leadership transitions .
- Execution levers in APAC: Company priorities include record backlog and rapidly expanding data center cooling demand; Rathninde’s regional leadership sits at the nexus of these secular tailwinds, offering operating leverage but execution risk around growth, cybersecurity resilience, and supply chain—areas the Board oversees closely .
Note: Rathninde’s individual pay mix, grant values, and shareholdings were not specifically reported in the latest proxy or 10-K; analysis reflects Johnson Controls’ disclosed executive compensation framework and policies applicable to officers, and enterprise performance that informs incentive outcomes.