"Brian has been our CFO since 2014. He has been a valued member of the management team and has made significant contributions to the success of Johnson Controls. He has been a true partner over the last several years and has played an integral role in setting and achieving our strategic and financial commitments," said George Oliver, chairman and CEO. "As Brian completes his last year as our chief financial officer, I welcome him to the vice chairman role in recognition of all his efforts and look to his leadership for an orderly and smooth transition when his successor is announced," Oliver added.

The Board will begin a process to appoint a successor to Stief, including an external search to ensure that management and the Board of Directors have the appropriate time to evaluate a full slate of candidates for the company's next CFO. Stief will participate in the process and facilitate a successful leadership changeover.

Stief joined Johnson Controls in July 2010 as vice president, corporate controller, responsible for global finance functions, financial planning and analysis, and corporate taxation. He was appointed executive vice president and chief financial officer in 2014.