Allegion plc announced that John H. Stone will succeed David D. Petratis as CEO, effective July 11, 2022. 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 capitalization and annual adjusted earnings per share (EPS), delivering industry-leading profitability and completing more than 20 acquisitions and strategic investments.

The company also recently received the prestigious Robert W. Campbell award for its system of environmental, health and safety management. Stone brings to Allegion more than 18 years of senior leadership experience. Most recently, he served as president of Deere & Company's 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. Prior to Deere & Company, Stone was a quality engineer at General Electric and an infantry officer in the U.S. Army.

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'sIntelligent 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.