Summary
Honeywell International Inc. (HON) filed an 8-K report on April 8, 2005, announcing a change in its Board of Directors. Marshall N. Carter, a director since 1999, will not seek re-election at the upcoming Annual Meeting of Shareowners on April 25, 2005. This decision is due to his appointment as Chairman of the New York Stock Exchange. This change will result in a reduction of the authorized number of directors on the Board from 14 to 13, effective upon Mr. Carter's departure. Investors should note that while this is a directorship change, it does not appear to be related to any operational or financial performance issues of Honeywell itself, but rather an external career advancement for Mr. Carter.
Key Highlights
- 1Marshall N. Carter will not stand for re-election to the Honeywell Board of Directors.
- 2Mr. Carter's decision is due to his appointment as Chairman of the New York Stock Exchange.
- 3Mr. Carter has been a director of Honeywell since 1999.
- 4The Annual Meeting of Shareowners where this change will be formalized is scheduled for April 25, 2005.
- 5The authorized number of directors will be reduced from 14 to 13.
- 6The reduction in the number of directors is effective upon Mr. Carter's cessation of service.