CORK, Ireland - Johnson Controls (NYSE:JCI), a company specializing in smart and sustainable building solutions, announced today the appointment of Chris Bontempo as the new Vice President and Chief Marketing Officer. Bontempo, who brings nearly two decades of experience from his tenure at IBM (NYSE:IBM), will now oversee marketing strategies to boost demand and strengthen the company’s brand presence globally.
Bontempo’s role includes steering market development, research, and planning, aiming to expand market share in products, systems, and services for Johnson Controls. His responsibilities at IBM involved leading marketing initiatives across the Americas, focusing on revenue generation and team management for marketing operations.
In his new position, Bontempo will report directly to Johnson Controls Chairman and CEO George Oliver and join the executive team. Oliver emphasized the company's commitment to customer-centric solutions and expressed confidence in Bontempo's digital expertise, particularly in data and AI, to enhance the company's product management and commercial strategies.
Johnson Controls, with a history of nearly 140 years and a workforce of 100,000 experts across more than 150 countries, continues to innovate in the fields of healthcare, education, data centers, and various other industries through its digital platform, OpenBlue.
Bontempo's educational background includes an MBA from Columbia Business School and a Bachelor of Arts in European Studies from Amherst College.
This announcement is based on a press release statement from Johnson Controls International plc.
InvestingPro Insights
As Johnson Controls (NYSE:JCI) welcomes Chris Bontempo to the helm of its marketing strategy, the company's financial health and market position remain critical for investors monitoring the impact of such executive changes. With a solid market capitalization of 42.7 billion USD, Johnson Controls is a significant player in the Building Products industry. This stature is reinforced by a Price/Earnings (P/E) ratio of 25.34, which adjusts to a more attractive 19.95 when considering the last twelve months as of Q2 2024. Such metrics suggest a company with a relatively stable valuation in its sector.
Investors may also take note of the company's dividend consistency, as highlighted by an InvestingPro Tip that Johnson Controls has maintained dividend payments for 54 consecutive years. This track record, combined with a dividend yield of 2.34% as of the latest data, could be particularly appealing to income-focused investors. Additionally, the company has experienced a strong price total return of 17.18% over the last three months, indicating robust short-term performance.
While some InvestingPro Tips indicate that analysts have revised their earnings predictions downwards for the upcoming period, the company's low price volatility and its position as a prominent industry player are factors that could mitigate concerns. For those interested in further insights, there are additional InvestingPro Tips available, with a total of 10 tips listed on InvestingPro's dedicated Johnson Controls page. Prospective subscribers can use the coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
Overall, the financial metrics and InvestingPro Tips provide a snapshot of Johnson Controls as it continues to navigate the market under new marketing leadership. With revenue growth showing a modest increase of 2.83% over the last twelve months as of Q2 2024, the company's strategies for expansion and market share will be worth watching in the upcoming periods.
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