Allegion CEO David Petratis to Retire, Be Succeeded by John Stone
DUBLIN — Allegion (NYSE: ALLE ) announces that John Stone will succeed David Petratis as president and CEO, effective July 11, 2022. Stone will also become a member of the company’s board of directors at that time, and Petratis will serve as executive chairman until his retirement, which is expected by Jan. 2, 2023. Petratis has led Allegion since its spin-off from the former Ingersoll Rand in 2013 , capping off a 40-year career. During his tenure, Allegion has achieved substantial financial and business success, doubling its market capitalization and annual adjusted earnings per share (EPS), delivering industry-leading profitability and completing more than 20 acquisitions and strategic investments, according to the company. Allegion also recently received the Robert W. Campbell award for its system of environmental, health and safety management. “Leading Allegion has been a privilege and one of the most rewarding experiences of my professional career,” says Petratis. “Since beco