8-KLeadership Changes

HONEYWELL INTERNATIONAL INC 8-K Report, Executive Changes (May 31, 2018)

Filed May 31, 2018For Securities:HONHONIV

Summary

This 8-K filing from Honeywell International Inc. announces a significant leadership change within its Building Technologies segment. Vimal Kapur has been appointed President and CEO of Building Technologies, effective immediately. Mr. Kapur brings a wealth of experience from his long tenure at Honeywell, most notably his successful leadership of Honeywell Process Solutions (HPS), where he drove margin expansion and navigated challenging market conditions. This appointment positions a seasoned executive to lead a key strategic business group that will remain with Honeywell post-Homes spin-off. The Building Technologies segment will also oversee Honeywell's Homes business temporarily, with the newly appointed President and CEO of Homes, Michael G. Nefkens, reporting to Mr. Kapur. This organizational structure is in place leading up to the anticipated spin-off of the Homes business later this year. Mr. Kapur's deep understanding of Honeywell's operations and his track record of driving growth and innovation are expected to be instrumental in the continued success and strategic direction of the Building Technologies group.

Key Highlights

  • 1Vimal Kapur appointed President and CEO of Building Technologies, effective immediately.
  • 2Mr. Kapur has an extensive 29-year history with Honeywell, demonstrating deep operational knowledge.
  • 3Mr. Kapur previously led Honeywell Process Solutions (HPS), achieving margin expansion and outperforming peers.
  • 4He successfully navigated HPS through a downturn in the oil and gas sector, strengthening its competitive position.
  • 5Mr. Kapur also has experience building software businesses, including the foundation for Honeywell Connected Plant.
  • 6The Building Technologies segment will temporarily include the Homes business ahead of its planned spin-off.
  • 7Mr. Kapur succeeds Gary Michel, who is leaving to become CEO of another publicly traded company.

Frequently Asked Questions

Vimal Kapur is a long-time Honeywell executive with 29 years of experience. He was most recently the President of Honeywell Process Solutions (HPS), where he is credited with expanding margins and successfully leading the business through industry downturns. He also has experience in developing software businesses and previously led various segments within Honeywell's operations in India.

The appointment of Vimal Kapur, a proven leader with a strong track record, is expected to bring stability and continued growth to the Building Technologies segment. This segment is considered strategic and will remain with Honeywell after the planned spin-off of the Homes business, making Mr. Kapur's leadership crucial for its future direction and performance.

Prior to the anticipated spin-off of the Homes business later this year, the Building Technologies segment will temporarily oversee the Homes business. Michael G. Nefkens, the newly appointed President and CEO of Homes, will report to Vimal Kapur during this transition period.

Gary Michel is leaving Honeywell to become the CEO of a non-competing publicly traded company. He communicated his intention to depart on May 30, 2018.