Adient Finalizes Split from Johnson Control

Seating supplier Adient plc has begun trading shares on the New York Stock Exchange under the ADNT symbol, thereby completing its spinoff from Johnson Controls Inc.

Adient consists of JCI’s former automotive seating and interiors businesses. It employs 75,000 people, operates 230 factories worldwide and generates annual revenue of about $17 billion.

Last week the company said it will maintain its administrative headquarters in Milwaukee, Wisc., and make an existing JCI office in the Detroit suburb of Plymouth, Mich., its operational headquarters.

But on Monday CEO Bruce McDonald told The Wall Street Journal that the company was open to relocating to Detroit because the younger talent it seeks is “attracted to an urban environment.” Adient is domiciled for tax purposes in Dublin, Ireland.