MILWAUKEE, July 29, 2016 /PRNewswire/ -- Johnson Controls, Inc. (NYSE: JCI) today announced that Adient, the automotive seating and interiors business that it plans to spin off in October, will have Barb J. Samardzich join Adient's board of directors after its separation from Johnson Controls. Ms. Samardzich, has served as vice president and chief operating officer of Ford of Europe since November 2013 and recently announced her retirement from Ford effective October 1, 2016. Ms. Samardzich is the seventh director expected to serve on Adient's board of directors.
"Barb is an experienced global leader who adds significant international automotive industry experience to Adient's board," said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. "Her knowledge is a perfect complement to the broad industry expertise of the Adient board members. I am confident that Barb's insight will strengthen the Adient brand and company performance."
During her over thirty-five year career, Ms. Samardzich has been responsible for operations, manufacturing, quality, product development, purchasing, sustainability, environment and safety engineering in the automotive industry. Ms. Samardzich also serves on the board of MTS Systems Corporation where she is a member of the Compensation Committee.
After completion of the spin-off, Adient's board of directors is expected to consist of eight members, including:
- R. Bruce McDonald, chairman and CEO, Adient
- John M. Barth, retired chairman and CEO, Johnson Controls
- Julie L. Bushman, senior vice president, Business Transformation and Information Technology, 3M
- Raymond L. Conner, vice chairman, The Boeing Company; president and CEO, Boeing Commercial Airplanes
- Richard Goodman, retired executive vice president, Pepsico
- Frederick A. Henderson, chairman and CEO, SunCoke Energy and SunCoke Energy Partners GP
- Barb J. Samardzich, vice president and COO, Ford of Europe GmbH
About Johnson Controls:
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 150,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and seating components and systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2016, Corporate Responsibility Magazine recognized Johnson Controls as the #17 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit http://www.johnsoncontrols.com or follow us @johnsoncontrols on Twitter.
Follow Johnson Controls Investor Relations on Twitter at www.twitter.com/JCI_IR.
Cautionary Statement Regarding Forward-Looking Statements
Johnson Controls, Inc. has made statements in this document that are forward-looking and, therefore, are subject to risks and uncertainties. All statements in this document other than statements of historical fact are statements that are, or could be, "deemed "forward-looking statements"" within the meaning of the Private Securities Litigation Reform Act of 1995. In this document, statements regarding Johnson Controls'' or the combined company's future financial position, sales, costs, earnings, cash flows, other measures of results of operations, capital expenditures or debt levels and plans, objectives, outlook, targets, guidance or goals are forward-looking statements. Words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "should," "forecast," "project" or "plan" or terms of similar meaning are also generally intended to identify forward-looking statements. Johnson Controls cautions that these statements are subject to numerous important risks, uncertainties, assumptions and other factors, some of which are beyond Johnson Controls control, that could cause Johnson Controls' actual results to differ materially from those expressed or implied by such forward-looking statements, including, among others, risks related to: uncertainties as to the timing of the spin-off and whether it will be completed, the possibility that various closing conditions for the spin-off may not be satisfied or waived, the expected tax treatment of the spin-off, the impact of the spin-off on the businesses of Johnson Controls and Adient, the ability of both companies to meet debt service requirements, the availability and terms of financing and expectations of credit rating, the risk that disruptions from the spin-off will harm Johnson Controls' business, competitive responses to the spin-off, general economic and business conditions that affect Johnson Controls and Adient following the spin-off, the strength of the U.S. or other economies, automotive vehicle production levels, mix and schedules, energy and commodity prices, the availability of raw materials and component products, currency exchange rates, and cancellation of or changes to commercial arrangements. A detailed discussion of risks related to Johnson Controls' business is included in the section entitled "Risk Factors" in Johnson Controls'' Annual Report on Form 10-K for the fiscal year ended September 30, 2015 filed with the SEC on November 18, 2015 and available at www.sec.gov and www.johnsoncontrols.com under the "Investors" tab. Shareholders, potential investors and others should consider these factors in evaluating the forward-looking statements and should not place undue reliance on such statements. The forward-looking statements included in this document are made only as of the date of this document, unless otherwise specified, and, except as required by law, Johnson Controls assumes no obligation, and disclaims any obligation, to update such statements to reflect events or circumstances occurring after the date of this document.
SOURCE Johnson Controls, Inc.