Julie Brandt
Vice President and President, Global Commercial & Field Operations at 
Johnson Controls International
Johnson Controls InternationalExecutive
About Julie Brandt
Julie Brandt is Vice President and President, Global Commercial & Field Operations at Johnson Controls (JCI), leading global field delivery and commercial excellence; she previously led the $9B Building Solutions North America business from April 2023 to January 2025 . She joined JCI from Otis Elevator Company after nearly three decades in roles across North America, Latin America, Europe and Asia Pacific; she holds an MBA and a BS in International Business & Marketing from Indiana University’s Kelley School of Business and leadership certifications from Harvard Business School . During her first year at JCI, the annual incentive program for executives was tied to company financials, where fiscal 2023 delivered EBIT growth of 16.9%, revenue growth of 8.1%, and company TSR of 139 vs 131 for S&P 500 Industrials, framing the performance environment for her pay outcomes .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Otis Elevator Company | Executive Vice President & General Manager, U.S. Western Region | Jan 2020–Apr 2023 | Full P&L across 28 states; led branch operations, field execution, sales and growth |
| Otis Elevator Company | Various senior roles (global) | Nearly three decades (various years) | Built high-performing organizations across multiple continents; transformational and functional leadership |
External Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| United Rentals (NYSE: URI) | Director | Jan 2025–Present | Adds operational expertise in large, distributed, customer-centric businesses; construction industry depth |
Fixed Compensation
| Element | Fiscal 2023 Value | Notes |
|---|---|---|
| Target Base Salary | $700,000 | Set at hire based on market benchmarking |
| Actual Salary Paid | $336,538 | Prorated for start date in Apr 2023 |
| Target Annual Bonus (% of Salary) | 90% | AIPP tied to EBIT growth, revenue growth, FCF conversion, plus modifiers |
| Annual Bonus Paid (AIPP) | $221,943 | Total payout factor 73.9% of target for NEOs |
| Perquisites (All Other Comp) | $7,212 | Company vehicle; perquisite allowance policy is 5% of base salary for execs |
Performance Compensation
New-Hire and Long-Term Equity
| Award Type | Grant Date | Shares/Value | Vesting | Key Terms |
|---|---|---|---|---|
| RSU (New-Hire) | Apr 10, 2023 | 47,018 RSUs; $2,649,934 grant-date fair value | Equal installments over 3 years | Cash sign-on $750,000; clawback requires full repayment if voluntary termination within 2 years; RSU termination provisions: pro-rated acceleration if involuntary not-for-cause; full acceleration for death/disability; forfeiture otherwise |
| Options (FY2023 LTI) | N/A | — | — | Not eligible due to date of hire; did not participate in FY2023 LTI program |
| PSU (Program Metrics for FY2024–FY2026) | Programmatic | 1/3 Pre-tax earnings growth; 1/3 Recurring revenue; 1/3 TSR vs S&P 500 Industrials | 3-year performance cycle | Definitions include FX and special item adjustments; TSR uses 30-trading-day averages |
Annual Incentive Performance Program (AIPP) – Fiscal 2023
| Metric | Weight | Target | Actual | Payout (Unweighted) | Notes |
|---|---|---|---|---|---|
| EBIT Growth | 1/3 | 15.0% | 16.9% | 123.75% | Financial measures unchanged; rewards profitability |
| Revenue Growth | 1/3 | 8.0% | 8.1% | 102% | Top-line expansion focus |
| Enterprise Free Cash Flow Conversion | 1/3 | 85% | 76% | 0% | Below threshold; discipline enforced |
| Financial Subtotal | — | — | — | 75.2% (weighted) | Weighted result across metrics |
| Strategic Initiative Modifier (Service Growth) | +/-15% | >10% YOY organic service growth | 10.4% | +15% modifier | Non-interpolated; supports services strategy |
| Committee Adjustment | — | — | — | Reduced payout to 73.9% for all executives | Accountability for FCF shortfall |
| Business Unit & Individual Modifiers | Applied | 100% each | 100% each | — | BSNA modifier applied to Brandt |
| Final Payout Factor | — | — | — | 73.9% | Annual bonus paid $221,943 |
Vesting Schedule – Unvested RSUs (as of FY2023 year-end)
| Vest Date | Shares |
|---|---|
| Apr 10, 2024 | 15,757 |
| Apr 10, 2025 | 15,757 |
| Apr 10, 2026 | 15,757 |
Equity Ownership & Alignment
- Beneficial ownership: 0 shares as of January 10, 2024 (less than 1% of class) .
- Stock ownership guidelines: CEO 6x base salary; all other NEOs 3x base; executives must retain after-tax shares from option exercises and RSU/PSU vesting until guidelines met; unvested RSUs count; options and unvested PSUs do not count .
- Compliance: At end of fiscal 2024, all NEOs were in compliance or had additional time under the five-year window .
- Anti-hedging/anti-pledging: Comprehensive policy prohibits hedging and pledging by executive officers; trading limited to post-earnings window periods .
- Upcoming vesting and selling pressure: RSU tranches vesting in Apr 2025 and Apr 2026 could create discretionary sale opportunities, subject to window periods and ownership guideline retention requirements .
Employment Terms
| Provision | Change-in-Control (CIC) | Involuntary (No CIC) | With Cause | Death/Disability |
|---|---|---|---|---|
| Trigger | Involuntary termination or Good Reason within 60 days before to 2 years after CIC (double trigger) | Involuntary termination other than for Cause | Termination for Cause | Death or disability |
| Cash Severance | 2x base salary + target bonus (other NEOs) | 1.5x base salary + target bonus (other NEOs) | — | — |
| Julie Brandt – Cash Severance (as of 9/30/2023) | $3,289,999 | $1,995,000 | — | — |
| Benefits Continuation | 24 months (other NEOs) | 18 months (other NEOs) | — | — |
| Julie Brandt – Benefits Continuation (as of 9/30/2023) | $213,455 | $98,449 | — | — |
| Equity Acceleration | Pro-rated based on months worked; PSUs pro-rated at target; awards after Mar 10, 2021 may receive more favorable treatment under 2021 Plan including right to full vesting or cash-out at CIC | Pro-rated based on months worked; PSUs pro-rated at target earned at vesting | — | RSUs/options accelerate in full; PSUs vest based on actual performance |
| Julie Brandt – Equity Acceleration (as of 9/30/2023) | $2,515,300 | $349,346 | — | $2,515,300 |
| Excise Tax Gross-Up | None | None | — | — |
| Restrictive Covenants | 2-year non-solicit; 1.5-year non-compete; unlimited non-disparagement/confidentiality | Same | — | — |
| Clawback | SEC-compliant recoupment; discretionary clawbacks for misconduct causing material reputational harm; DOJ-triggered recoupment authority | SEC-compliant recoupment; discretionary clawbacks | — | — |
| Deferred Compensation | Senior Executive Deferred Compensation Plan allows deferral of base and bonus; options mirror 401(k) investment menus | — | — | — |
Investment Implications
- Retention and selling pressure: A two-year clawback on her $750k sign-on cash ended around April 2025, while RSU tranches continue vesting through April 2026, suggesting ongoing retention alignment; trading is constrained by window periods and ownership retention rules (3x salary guideline) .
- Pay-for-performance alignment: AIPP metrics emphasize EBIT and revenue growth with FCF discipline; FY2023 payouts were cut to 73.9% of target after committee discretion, reinforcing downside risk to cash bonuses when cash conversion misses .
- Equity risk/TSR linkage: Program PSUs weight TSR 1/3 vs S&P 500 Industrials for FY2024–FY2026, aligning long-term outcomes to market-relative performance; anti-hedging/anti-pledging policies reduce misalignment risk .
- Change-in-control economics: Double-trigger cash severance (2x) and pro-rated equity treatment limit windfalls while providing meaningful protection; no excise gross-ups and robust restrictive covenants mitigate shareholder-unfriendly outcomes .
- Role leverage: As leader of Global Commercial & Field Operations, Brandt’s execution on field productivity, commercial discipline, and customer experience is a key lever for JCI’s margin resilience and recurring revenue strategy, which is embedded in PSU metrics (recurring revenue 1/3 weight) .