Summary
This 8-K filing from Johnson Controls International plc (JCI) primarily announces a change in its Board of Directors. Brian Duperreault, a current director, has decided not to seek re-election and will retire from the board at the conclusion of the 2019 Annual Meeting of Stockholders. His departure is amicable, with no disagreements cited regarding the company's operations, policies, or practices. In parallel, JCI has appointed Pierre Cohade as a new director, effective December 5, 2018, with his term set to expire at the next annual general meeting. Mr. Cohade has also been appointed to the Audit Committee of the Board. His appointment includes a restricted stock unit (RSU) award valued at approximately $38,750, which vests prior to the 2019 annual meeting. The company has also entered into standard indemnification agreements with Mr. Cohade to protect him against potential liabilities arising from his board service.
Key Highlights
- 1Brian Duperreault will retire from the JCI Board of Directors at the 2019 Annual Meeting of Stockholders.
- 2Mr. Duperreault's retirement is not due to any disagreements with the company.
- 3Pierre Cohade has been appointed as a new director to the JCI Board.
- 4Mr. Cohade has also been appointed to the Audit Committee.
- 5Mr. Cohade received an RSU award valued at approximately $38,750, vesting prior to the 2019 annual meeting.
- 6Standard indemnification agreements have been executed for Mr. Cohade, consistent with other directors.
- 7No related party transactions involving Mr. Cohade were disclosed.