Summary
Honeywell International Inc. (HON) filed an 8-K on August 1, 2018, reporting a key leadership change in its finance department. Effective August 3, 2018, Mr. Greg Lewis was appointed as the new Senior Vice President and Chief Financial Officer (CFO), succeeding Mr. Tom Szlosek. Mr. Lewis brings extensive financial experience within Honeywell, having most recently served as Vice President, Corporate Finance, with broad responsibilities across treasury, tax, investor relations, and M&A. His prior roles include CFO of the Automation and Control Solutions business group and leadership positions in finance operations and business analysis. The filing also details Mr. Lewis's compensation package, including a base salary of $700,000, a target annual incentive of 100% of base salary, and long-term incentive awards beginning in 2019 at 385% of base salary. Concurrently, Mr. Szlosek's departure was modified; he will remain with the company until October 5, 2018, to ensure a smooth transition and will be available through the end of 2018. His retirement agreement includes extended non-competition and non-solicitation clauses and allows for the continued vesting of certain previously awarded restricted stock units.
Key Highlights
- 1Greg Lewis appointed as the new Senior Vice President and Chief Financial Officer (CFO), effective August 3, 2018.
- 2Lewis's extensive internal experience includes recent role as VP, Corporate Finance, overseeing Treasury, Tax, Investor Relations, and M&A.
- 3Lewis's compensation includes a base salary of $700,000 and a target annual incentive of 100% of base salary.
- 4Initial long-term incentive award target for Lewis in 2019 will be 385% of his annual base salary.
- 5Outgoing CFO Tom Szlosek's departure date extended to October 5, 2018, for transition.
- 6Szlosek to remain available to the company through December 31, 2018.
- 7Szlosek's retirement agreement includes extended non-competition/non-solicitation clauses and continued vesting of specific restricted stock units.