In a recent filing with the Securities and Exchange Commission, Daniel C. McConeghy, Vice President and Chief Accounting & Tax Officer at Johnson Controls International plc (NYSE:JCI), disclosed the sale of 1,950 ordinary shares. The shares were sold at a weighted average price of $87.73 per share, resulting in a total transaction value of approximately $171,073.
Following this transaction, McConeghy holds 24,803.11 shares directly. Additionally, he maintains indirect ownership of 2,560.97 shares through a 401k plan trustee. The sale was executed on February 6, 2025, and the details were filed on February 7, 2025.
In other recent news, Johnson Controls has witnessed a series of significant developments. The company announced the appointment of Joakim Weidemanis as the new CEO, succeeding George R. Oliver, effective March 12, 2025. Weidemanis brings a wealth of experience from his tenure at Danaher Corporation (NYSE:DHR) and is expected to guide Johnson Controls into its next growth phase.
In a separate development, Melius analysts downgraded Johnson Controls stock from Buy to Hold, reflecting concerns over future price-to-earnings ratios. This decision was influenced by broader apprehensions regarding the sustainability of the current capital expenditure trend, particularly in the context of artificial intelligence investments.
Additionally, Johnson Controls reshuffled its top management roles, promoting Julie Brandt to Vice President and President of Global Field Operations, and Nathan Manning to Vice President and President of Building Solutions North America. This move is seen as an effort to align with the company's strategic direction and enhance operational efficiency.
Simultaneously, board member Simone Menne announced her retirement effective following the annual general meeting on March 12, 2025. Menne's decision to retire was described as personal and not due to any disagreements with the company's operations, policies, or practices. The company has not indicated any immediate plans for a successor.
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