MILWAUKEE — Johnson Controls announced early Wednesday
that it is looking into different options to separate
its automotive business, but has not set a timeframe for
“Today's announcement continues our strategy of
proactive portfolio management to drive focus on
strategic product-oriented businesses where we can be a
global market leader, drive more profitable growth and
deliver maximum long-term value for our customers and
shareholders,” said Alex Molinaroli, chairman and chief
executive officer of Johnson Controls, in a statement.
“I am very pleased that we are consistently delivering
on our operating commitments while also building a
strong foundation for growth by leveraging our Johnson
Controls Operating System (JCOS) across the company.”
The JCOS provides an operational vehicle to create value
through systemic application of strategic capabilities
across the company. The JCOS is expected to yield $2
billion in incremental segment income by 2020 through
operational effectiveness and increased speed to market,
according to Johnson Controls.
Johnson Controls has engaged Goldman Sachs and
Centerview Partners to serve as financial advisors, and
Wachtell, Lipton, Rosen and Katz to serve as legal
advisor in connection with this strategic review.