Allegion plc, a global provider of security products and solutions, has announced that John H. Stone will succeed David D. Petratis as the President and Chief Executive Officer (CEO), effective July 11, 2022. John H. Stone will also become a member of the company’s Board of Directors at that time, and David D. Petratis will serve as Executive Chairman until his retirement, which is expected by Jan. 2, 2023.
David D. Petratis has led Allegion since its spin-off from the former Ingersoll Rand in 2013, capping off a distinguished 40-year career. During his tenure, Allegion has achieved substantial financial and business success, doubling its market capitalisation and annual adjusted earnings per share (EPS), delivering industry-leading profitability and completing more than 20 acquisitions and strategic investments.
