Honeywell Realigns Business Units Around Automation, Other 'Megatrends'
10 Outubro 2023 - 8:14AM
Dow Jones News
By Dean Seal
Honeywell International has realigned its business segments
around what it calls the three "compelling megatrends" of
automation, the future of aviation and energy transition.
The industrial company said Tuesday that the shift within its
businesses, which is set to take effect in the first quarter of
2024, will drive organic sales growth and inorganic capital
deployment.
The new reporting structure will include four business units:
aerospace technologies, industrial automation, building automation,
and energy and sustainability solutions. Honeywell previously
reported its results were segmented by aerospace, building
technologies, performance materials and technologies, and safety
and productivity solutions.
"This realignment will enable us to consistently deliver our
upgraded financial algorithm, drive innovation that will help solve
the world's toughest sustainability and digitalization challenges,
and deploy capital more effectively," Chief Executive Vimal Kapur
said.
Starting on Jan. 1, Lucian Boldea will serve as chief executive
of the industrial automation segment while Ken West has been tapped
to head the energy and sustainability solutions business.
Billal Hammoud will stay in his position as chief executive of
the newly renamed building automation segment, formerly called the
building technologies unit, and Jim Currier will do the same for
what will now be called the aerospace technologies segment.
Honeywell also said Tuesday that it expects third-quarter sales
and segment margin to be in line with its issued guidance and for
earnings per share to possibly come in higher than previously
expected.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
October 10, 2023 06:59 ET (10:59 GMT)
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