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July 27, 2007: Johnson Controls Elects Roell CEO; Barth to Retire

July 27, 2007
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MILWAUKEE - The board of directors of Johnson Controls Inc. announced that Stephen A. Roell, executive vice president and vice chairman, has been elected chief executive officer effective Oct. 1, 2007. He has also been elected chairman of the board of directors effective Jan. 1, 2008.

Roell will succeed John M. Barth, who will retire Dec. 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. 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.

“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 customer satisfaction, 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 regional customers.”

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.”

Roell was named executive vice president in 2004 and vice chairman in 2005. 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. He will become the eighth CEO in the company’s 123-year history.

Publication date: 07/23/2007

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