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Johnson Controls CEO loses nearly $1M in bonus money in fallout from affair

2014-12-10 00:15:47| Automakers - Topix.net

The executive committee and the board of Johnson Controls Inc. determined that chairman, president and chief executive officer Alex Molinaroli failed to inform the corporation's audit committee about the potential conflict of interest in his extra-marital affair with a consultant hired by the company and decided to reduce his bonus by 20 percent for 2014. The decision by the executive committee and the board, with Molinaroli recusing himself, reduced his annual incentive performance plan payout to $3.92 million, down nearly $1 million, according to Johnson Controls' proxy statement filed Tuesday.

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