Shares of Johnson Controls Inc (NYSE:JCI) ended Friday session in green amid volatile trading. The shares closed up +0.27 points or 0.61% at $44.55 with 8.40 million shares getting traded. Post opening the session at $44.47, the shares hit an intraday low of $44.30 and an intraday high of $44.90 and the price vacillated in this range throughout the day. The company has a market cap of $28.76 billion and the numbers of outstanding shares have been calculated to be 637.75 million shares.
Johnson Controls Inc (JCI) on Sept. 8, 2016 announced its board of directors has approved the previously announced spin-off of its global automotive seating and interiors business. The transaction will result in two independent, publicly traded companies: Johnson Controls International plc and Adient plc. The spin-off is expected to be completed on Oct. 31, 2016.
At the time of the separation, Adient will be the world’s largest global automotive seating supplier, supporting all major automakers in differentiating vehicles through superior quality, technology and performance. Johnson Controls will continue to operate as a global leader in building products and technology, integrated solutions and energy storage.
“Announcement is an important step as Adient continues on its path toward becoming an independent company,” said incoming Adient Chairman and Chief Executive Officer R. Bruce McDonald. “As the market leader in the automotive seating industry, Adient is well-positioned for growth and margin expansion as we commit to reinvesting in the business on a global basis.”
Shares of VF Corp (NYSE:VFC) ended Friday session in red amid volatile trading. The shares closed down -0.04 points or -0.07% at $56.16 with 8.34 million shares getting traded. Post opening the session at $55.86, the shares hit an intraday low of $55.36 and an intraday high of $56.26 and the price vacillated in this range throughout the day. The company has a market cap of $22.84 billion and the numbers of outstanding shares have been calculated to be 414.74 million shares.
VF Corp (VFC) on August 8, 2016 announced the appointment of Jim Pisani to the position of Global Brand President, Timberland®, effective immediately. Pisani most recently served as President of VF’s Licensed Sports Group, which includes the Majestic® brand. He will report to Scott Baxter, Vice President, VF and Group President, Outdoor & Action Sports Americas.
“Jim is a tremendously talented and accomplished executive with a proven track record of delivering consistent business results and generating new growth opportunities,” said Baxter. “His passion, energy, and embodiment of the values deeply rooted in the Timberland brand and in VF make him the ideal leader to guide the brand into its next phase of global growth.”
Pisani joined VF in 2008 as President of VF Licensed Sports Group. The business unit’s Majestic® brand is the official on-field uniform provider for Major League Baseball. It also supplies apparel and fanwear through licensing agreements with U.S. and international professional sports leagues, colleges and universities, and lifestyle brands. Prior to VF, Pisani held a succession of leadership roles in branding, merchandising, sales and marketing at PepsiCo and Kraft Foods.
“I’m truly honored to be given the responsibility to lead this powerful and iconic brand with such rich history,” said Pisani. “There are so many opportunities in front of the Timberland brand and I look forward to partnering with the talented teams around the world to leverage our collective strengths and accelerate growth.”