Dear colleagues,
By now you are aware that we announced our decision to explore strategic options for the separation of our Automotive Experience business.
Our automotive business is a leader in its markets and the number one seating supplier in China, and I am proud of the team that delivers value to our customers in APAC every day. As an enterprise we have made focused investments in growth opportunities in the Building Efficiency and Power Solutions business – Hitachi and AGM in China are examples of these platforms – and we have not allocated the capital necessary for AE to maintain its leadership position in the future.
At this point no specific outcome has been defined, and there’s no specific timetable yet. We must make sure we make the right decision for our customers, shareholders and the teams of employees who have worked so hard to make our automotive business successful. You can expect change, but you should know that our commitment to the APAC market is stronger than ever.
APAC is our biggest opportunity for growth at Johnson Controls and we will continue to make investments in the region that play to our strengths. I ask that you stay focused on building enterprise capabilities and working towards our growth targets in the region. Today’s announcement is a natural next step in becoming a recognized multi-industrial, and I think it’s an exciting time to be a part of our company.
I am committed to being transparent with all of you and keeping you updated on our progress. I and the senior management team really care about your concerns and ideas. Please share any questions you have through this link in the following weeks.
Thank you all for the effort you put in every day at Johnson Controls.