Alex Molinaroli will hand over the reins of Johnson Controls Inc. to Tyco International’s top executive 18 months after the big merger of the two companies is completed this fall.
That means Molinaroli, whose brief tenure as CEO of the state’s largest company has included wheeling and dealing as well as two personal scandals, will likely be in for a big payday and poised to leave on top.
In the weeks leading up to the merger, both Johnson Controls and Tyco International moved to put some troubling matters behind them, with Tyco reaching a settlement with the Internal Revenue Service over back taxes and Johnson Controls saying a law firm found no wrongdoing by Molinaroli in his involvement with convicted Ponzi schemer Joseph Zada.
Via Tyco merger gives Johnson Controls CEO Molinaroli an exit strategy @ JSOnline.