Johnson Controls CEO Set for $119 Million Payout in Early Exit

Johnson Controls International Plc Chief Executive Officer Alex Molinaroli will walk away with at least $119 million when he steps down Sept. 1, about six months earlier than expected.

When the company first completed its purchase of Tyco International last year, Chief Operating Officer George Oliver, 57, had been expected to take the CEO job in early 2018. The succession was moved up because of the progress the two companies have made melding operations, Johnson Controls said in a statement Aug. 21.

George Oliver

Source: Johnson Controls International Plc

The CEO’s exit hands Oliver the job of convincing investors that the maker of air systems, fire-safety ...