- Kapur to commence new role, effective June 2024
- Ayer, former Chair and CEO of Alaska Airlines, to succeed D.
Scott Davis as Independent Lead
Director, effective May 2024
- Executive Chairman Darius
Adamczyk to step down from the board, effective June 2024
CHARLOTTE, N.C., Feb. 1, 2024 /PRNewswire/ --
Honeywell (NASDAQ: HON) today announced that its Board of
Directors has elected CEO Vimal
Kapur to take on the additional role of chairman when
current executive chairman Darius Adamczyk retires from
the board as of June 7, 2024.
William S. Ayer has also been
elected to succeed D. Scott Davis as
independent lead director beginning as of the company's annual
meeting on May 14, 2024. Davis, who
has served as lead director since 2020, will continue to serve as
an independent director and as Chair of the Audit Committee.
"The board is unified in its view that Vimal will provide
decisive strategic leadership and strong execution of Honeywell's
growth plans, capital deployment, succession planning and
continuing operational excellence," said Davis, Honeywell's
independent lead director. "Additionally, we are confident that the
robust governance authorities and responsibilities of our
independent lead director, combined with Bill's thoughtful and
extensive leadership, will enable our highly independent, diverse,
and experienced board to provide effective support and
oversight."
Adamczyk, who was Honeywell's chairman and CEO until June
2023 when he became executive chairman, said, "I would like to
thank Scott for his service to Honeywell as lead director. His
independent perspectives and counsel as Honeywell successfully
navigated the unprecedented macro challenges of the past four
years, and his leadership throughout the CEO succession planning
and smooth transition process have been invaluable to me, Vimal and
the entire management team."
"It is a privilege and honor to be named chairman with the full
support of Darius and our independent directors," Kapur said. "I
look forward to working with Bill, our outstanding board and
leadership team and our talented people to continue accelerating
Honeywell's growth aligned with three powerful
megatrends--automation, the future of aviation and energy
transition--each of which is underpinned by robust digitalization
capabilities and solutions."
He added, "Accelerating our innovation playbook, leveraging our
financial strength and unlocking greater value through our
Accelerator operating system uniquely positions us to blend
advanced software with leading physical products and solutions to
lead in our end markets." Kapur, 58, became President and CEO of
Honeywell in June 2023 after serving
as President and Chief Operating Officer since July 2022. Full bio here.
"I would like to thank Darius for his leadership and numerous
contributions to position Honeywell for growth. I am also grateful
to Scott for his service as lead director over the past four years,
and his continued service on the board," Kapur said. "I would also
like to congratulate Bill, who as chair of the Corporate Governance
and Responsibility Committee, successfully led our robust
shareowner engagement program and will continue bringing critical
shareowner feedback to the boardroom. His independent perspectives,
commitment to best-in-class governance practices, and leadership
strengths will be essential as we partner to deliver on Honeywell's
strategic growth objectives."
About Honeywell
Honeywell is an integrated operating
company serving a broad range of industries and geographies around
the world. Our business is aligned with three powerful megatrends –
automation, the future of aviation and energy transition –
underpinned by our Honeywell Accelerator operating system and
Honeywell Connected Enterprise integrated software platform. As a
trusted partner, we help organizations solve the world's toughest,
most complex challenges, providing actionable solutions and
innovations through our Aerospace Technologies, Industrial
Automation, Building Automation and Energy and Sustainability
Solutions business segments that help make the world smarter, safer
and more sustainable. For more news and information on
Honeywell, please visit www.honeywell.com/newsroom.
Contacts:
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Media
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Investor
Relations
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Stacey Jones
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Sean Meakim
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(980)
378-6258
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(704)
627-6200
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stacey.jones@honeywell.com
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sean.meakim@honeywell.com
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SOURCE Honeywell