8-KLeadership Changes

Johnson Controls International plc 8-K Report, Executive Changes (Jun 30, 2022)

Filed June 30, 2022For Securities:JCI

Summary

Johnson Controls International plc (JCI) announced a key executive appointment through an 8-K filing on June 30, 2022. Daniel C. "Skip" McConeghy has been appointed Vice President, Chief Accounting and Tax Officer, effective June 28, 2022. This appointment is significant as Mr. McConeghy will now also serve as the Company's Principal Accounting Officer, a role previously held on an interim basis by the CFO, Olivier Leonetti. This move fills a crucial financial leadership position with an internal candidate who has a deep understanding of the company's tax and accounting functions. Mr. McConeghy's compensation package reflects his new responsibilities, including a base salary of $450,000, participation in the annual incentive program with a potential bonus of up to 120% of his base salary, and long-term equity awards. His extensive experience, including his prior role as VP, Global Tax and his tenure at PricewaterhouseCoopers, positions him well for this critical role. Investors can view this as a positive step in solidifying the company's financial reporting and oversight structure.

Key Highlights

  • 1Daniel C. "Skip" McConeghy appointed as Vice President, Chief Accounting and Tax Officer.
  • 2Mr. McConeghy will also serve as Johnson Controls' Principal Accounting Officer.
  • 3This appointment resolves the interim Principal Accounting Officer role previously held by the CFO.
  • 4Mr. McConeghy has been with JCI since 2012 in various tax and interim controller roles.
  • 5His compensation includes a $450,000 base salary, annual bonus potential up to 120% of base, and long-term equity awards.
  • 6No related party transactions or family relationships requiring disclosure were noted for Mr. McConeghy.
  • 7Mr. McConeghy brings significant experience from his previous role as a Tax Partner at PricewaterhouseCoopers.

Frequently Asked Questions

Daniel C. "Skip" McConeghy has been appointed as the new Vice President, Chief Accounting and Tax Officer.

Mr. McConeghy will now officially hold the title of Principal Accounting Officer, a role that was temporarily filled by the CFO, Olivier Leonetti. This formalizes a key financial reporting oversight position within the company.

His compensation includes a base salary of $450,000, participation in the fiscal year 2022 Annual Incentive Performance Program with a prorated maximum bonus capped at 120% of his base salary, and long-term equity incentive awards.

Yes, Mr. McConeghy has been with Johnson Controls since July 2012, holding positions such as Vice President, Corporate Tax Planning, Vice President, Global Tax, and interim Controller.