Honeywell nominates current CEO Darius as chairman

Honeywell nominates current CEO Darius as chairman

7:09 AM, 15th February 2018
Honeywell nominates current CEO Darius as chairman
Darius Adamczyk to serve as both chairman and CEO beginning after Honeywell's Annual Shareowners Meeting on April 23. (File photo)

MORRIS PLAINS, US: Honeywell (HON) said that it has nominated president and CEO Darius Adamczyk to serve as chairman when current chairman Dave Cote retires at the end of April 2018.

In addition, Duncan Angove (51) president of Infor Inc has been elected to Honeywell's board as an independent director and will stand for re-election at Honeywell's annual shareowners' meeting.

Duncan Angove has served since 2010 as president of products and support at Infor Inc (formerly Infor Global Solutions), a privately-held $2.8 billion provider of enterprise software products and services.

“Following an evaluation of the strength of Darius's character, the quality of his leadership and the likelihood that his service as both chairman and CEO will enhance company performance, the board concluded that Darius will provide decisive strategic leadership and strong execution of Honeywell's significant portfolio change and deployment of our core technological strengths related to software, data analytics and the industrial internet of things. We are confident that our highly independent board and strong lead director role can provide the appropriate support and oversight of a combined chairman and CEO,” said Jaime Chico Pardo, Honeywell's lead director.

"Darius has demonstrated the ability to lead decisively in his prior roles at Honeywell and more recently as CEO, where his strategic vision and clarity of purpose have been amply displayed. The flawless transition to Darius's leadership over the past two years has played a major role in Honeywell's continued outperformance. I have no doubt that Darius has the integrity, leadership attributes, skills and intellect to lead Honeywell successfully as chairman and CEO for many years to come," said Cote, who was Honeywell's chairman and CEO until March 2017.

"It is a privilege and honour to be named chairman with the full support of Dave and our strong and capable Board. I look forward to working with our outstanding Board and leadership team and our talented global workforce to continue to accelerate Honeywell's organic growth, drive margin expansion and provide increased value as the world's leading software-industrial company," said Adamczyk.

"During his tenure at Infor, Duncan has continuously positioned the company for new growth, guided it through changes in software distribution models and helped propel it to become an industry innovator with results-driven data. Duncan brings exceptional leadership and strong business acumen to Honeywell's board. We are confident in Duncan's abilities to contribute to Honeywell's mission of building a smarter, safer and more sustainable world," added Adamczyk.

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