– IRELAND, Dublin – Allegion plc (NYSE: ALLE), a leading global provider of security products and solutions, today announced the appointment of John Stone to its Board of Directors as president and CEO, effective July 11, 2022, to succeed David Petratis who will step to Executive Chairman until his retirement, expected by Jan. 2, 2023.
“John is an outstanding leader with a proven ability to formulate and deliver operating and business process excellence, and he possesses a deep understanding of the technological trends shaping our world. His established track record of driving innovation to adopt smarter, safer and more sustainable agricultural and construction solutions will be instrumental to the execution of Allegion’s seamless access strategy, and his transformational M&A experience will ensure a smooth integration of the pending Access Technologies acquisition. We look forward to benefiting from his expertise as Allegion drives continued growth, innovation and profitability.” said Lead Director, Kirk Hachigian.
About John H. Stone
John Stone brings to Allegion more than 18 years of senior leadership experience. Most recently, he served as president of Deere & Company’s (NYSE: DE) Worldwide Construction, Forestry, and Power Systems business, overseeing the nearly $11.4 billion segment. Under Stone’s leadership, the segment has delivered impressive growth and profitability. He has also been influential in Deere & Company’s rapid development of artificial intelligence (AI) and machine learning capabilities, better integration of precision-ag technology into each of its flagship products, and in helping the company establish itself as a leader in technology. Before Deere & Company, Stone was a quality engineer at General Electric and an infantry officer in the U.S. Army.
“I am excited to take on the role of CEO for Allegion, and I am grateful for the support of Dave and the Board in entrusting me to lead the company’s next chapter,” said John Stone. “Allegion is an industry leader with strong growth engines and tremendous talent. I am eager to hit the ground running, to work with this great team to capitalize on Allegion’s strong portfolio of products, services, and software, and to drive shareholder value and a safer world through smart security solutions.”
About John H. Stone
Stone, 52, currently serves as president of Deere & Company’s Worldwide Construction, Forestry, and Power Systems business. In this role, he is responsible for the sustainable, profitable growth of the company’s construction and forestry equipment business as well as the continued success of the Wirtgen Group. Stone previously headed Deere’s Intelligent Solutions Group, the company’s precision-ag technology arm, where he led the acquisition of tech startup Blue River Technology, the establishment of the San Francisco John Deere Labs office, and the precision-ag headquarters in Urbandale, Iowa. He holds a bachelor’s degree in mechanical engineering from the United States Military Academy and an MBA from Harvard Business School.
About Allegion
Allegion is a global pioneer in seamless access, with leading brands like CISA, Interflex, LCN, Schlage, SimonsVoss, and Von Duprin. Focusing on security around the door and adjacent areas, Allegion secures people and assets with a range of solutions for homes, businesses, schools, and institutions. Allegion had $2.9 billion in revenue in 2021, and its security products are sold around the world.
For more information: https://www.allegion.com/
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