Why is Robin L. Washington resigning from the board?

Ms. Washington is resigning from the Board of Directors effective March 31, 2025, because she has accepted a new executive position as President and Chief Operating and Financial Officer of Salesforce, Inc. Her departure is not due to any disagreements with Honeywell.

Who is the new Chief Financial Officer (CFO)?

Mr. Mike Stepniak has been appointed as the new Senior Vice President and Chief Financial Officer, effective February 17, 2025. He was previously the Vice President, Finance, and has held CFO roles within Honeywell's Aerospace Technologies and Building Technologies segments.

What will Gregory P. Lewis's new role be?

Mr. Gregory P. Lewis, the former CFO, has been appointed to the newly created position of Senior Vice President, Transformation and Senior Advisor, effective February 17, 2025. He will assist with the CFO transition and later move to a Senior Advisor role with reduced compensation and no incentive participation.

What are the key compensation details for the new CFO, Mike Stepniak?

Mr. Stepniak's compensation package includes a base salary of $925,000, a target annual incentive compensation opportunity of 100% of his base salary (prorated for 2025), and eligibility for annual long-term incentive awards with a target grant date value of $3,800,000.

HON/HONIV 8-K: Leadership Changes

Summary

Honeywell International Inc. (HON) announced a significant change in its finance leadership through an 8-K filing dated February 18, 2025. Ms. Robin L. Washington will be resigning from the Board of Directors effective March 31, 2025, due to her new executive role at Salesforce. Her departure is amicable and not related to any disagreements with Honeywell's operations. This transition marks the end of her board service, and the company expressed gratitude for her contributions. The primary focus of the filing is the appointment of Mr. Mike Stepniak as the new Senior Vice President and Chief Financial Officer (CFO), effective February 17, 2025. Mr. Stepniak brings extensive financial leadership experience from within Honeywell's segments and a prior significant tenure at General Electric. He will report directly to CEO Vimal Kapur. Concurrently, Mr. Gregory P. Lewis, the former CFO, has been appointed to a newly created role of Senior Vice President, Transformation and Senior Advisor, effective February 17, 2025, to assist with the transition before moving to a Senior Advisor role later in 2025. This leadership reshuffle is designed to ensure continuity and support strategic transformation within the company.

Key Highlights

1Robin L. Washington to resign from the Board of Directors effective March 31, 2025, due to external executive appointment.
2Mike Stepniak appointed as the new Senior Vice President and Chief Financial Officer (CFO), effective February 17, 2025.
3Gregory P. Lewis transitions from CFO to Senior Vice President, Transformation and Senior Advisor.
4Mr. Stepniak's compensation package includes a base salary of $925,000, a target annual incentive of 100% of base salary, and target long-term incentive awards of $3,800,000.
5Mr. Lewis's new role includes a base salary of $750,000 with a target annual incentive of 100% of base salary and target long-term incentive awards of $1,000,000.
6Mr. Lewis's role will transition to Senior Advisor with a $100,000 salary and no incentive compensation later in 2025.
7No disagreements cited for Ms. Washington's departure, indicating a smooth transition.

HONEYWELL INTERNATIONAL INC 8-K Report, Executive Changes (Feb 18, 2025)

Summary

Key Highlights

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