8-KLeadership Changes

HONEYWELL INTERNATIONAL INC 8-K Report, Executive Changes (Jul 14, 2021)

Filed July 14, 2021For Securities:HONHONIV

Summary

Honeywell International Inc. announced a significant leadership transition within its Performance Materials and Technologies (PMT) segment and its Honeywell Building Technologies (HBT) segment. Rajeev Gautam, the current CEO of PMT, will retire on August 13, 2021, but will remain with the company in a President Emeritus role until January 2022 to ensure a smooth transition and support the Honeywell UOP business. This transition is aimed at facilitating continuity and maintaining growth. The company has appointed Vimal Kapur, formerly CEO of HBT, to succeed Mr. Gautam as CEO of PMT. Mr. Kapur brings extensive experience within both the PMT and HBT segments, having previously led Honeywell Process Solutions (HPS) within PMT and most recently HBT. Concurrently, Doug Wright, who joined Honeywell in July 2020 and led HBT's Fire and Security business, has been appointed as the new CEO of HBT, succeeding Mr. Kapur. These appointments are effective immediately and are designed to leverage existing leadership strengths to drive future performance.

Key Highlights

  • 1Rajeev Gautam, CEO of Performance Materials and Technologies (PMT), announced his retirement effective August 13, 2021.
  • 2Mr. Gautam will transition to a President Emeritus role until the end of January 2022, focusing on customer transitions and growth in the Honeywell UOP business.
  • 3Vimal Kapur has been appointed as the new President and CEO of PMT, succeeding Mr. Gautam.
  • 4Mr. Kapur previously served as CEO of Honeywell Building Technologies (HBT) and held leadership roles within PMT, including leading Honeywell Process Solutions (HPS).
  • 5Doug Wright has been appointed as the new President and CEO of HBT, succeeding Mr. Kapur.
  • 6Mr. Wright joined Honeywell in July 2020 and previously led HBT's Fire and Security business, with prior experience at United Technologies.
  • 7The appointments of Mr. Kapur and Mr. Wright are effective immediately.

Frequently Asked Questions

This 8-K filing announces a significant leadership change at Honeywell International Inc., specifically the retirement of the CEO of the Performance Materials and Technologies (PMT) segment and the subsequent appointments of new leaders for both the PMT and Honeywell Building Technologies (HBT) segments.

Vimal Kapur has been appointed to succeed Rajeev Gautam as the President and Chief Executive Officer of the Performance Materials and Technologies (PMT) segment. Mr. Kapur has a strong background within Honeywell, having most recently served as CEO of the Honeywell Building Technologies (HBT) segment and previously leading PMT's Honeywell Process Solutions business.

Following his retirement on August 13, 2021, Rajeev Gautam will serve as President Emeritus of Honeywell PMT through the end of January 2022. In this role, he will focus on ensuring smooth customer transitions within PMT and supporting growth initiatives in the Honeywell UOP business unit.

These changes indicate a well-planned succession within key segments of Honeywell. The appointments of Vimal Kapur and Doug Wright, both with extensive experience in their respective and previous roles, suggest continuity and a focus on leveraging existing leadership strengths. Investors can view this as a move to ensure stable execution and continued growth in the PMT and HBT segments, with a structured handover from the retiring executive.