Johnson Controls Names Joakim Weidemanis As CEO, Stock Up In Pre-market

(RTTNews) - Johnson Controls Inc. (JCI), a technology and industrial firm, Wednesday announced the appointment of Joakim Weidemanis as Chief Executive Officer, with effect from March 12.

Shares of Johnson Controls are increasing around 9% in the pre-market.

Joakim Weidemanis takes over from George Oliver after a detailed succession plan. Oliver will stay on as an advisor until December 31, to assist with the leadership change and offer support.

Weidemanis was previously Executive Vice President of Diagnostics and China at Danaher.

In the pre-market trading, Johnson Controls is 7.91% less at $83.40 on the New York Stock Exchange.