By Colin Kellaher

Allegion PLC on Tuesday said David Petratis, who has led the provider of security products and solution since its spinoff from Ingersoll Rand in late 2013, plans to retire as president and chief executive.

The Dublin-based company said John Stone, who has been president of Deere & Co.'s construction, forestry and power systems business since July 2020, will succeed Mr. Petratis as president and CEO, effective July 11.

Mr. Stone, 52 years old, also will join the Allegion board.

Allegion said Mr. Petratis will remain as executive chairman until his planned retirement on Jan. 2, 2023.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 31, 2022 06:32 ET (10:32 GMT)

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