HONEYWELL ANNOUNCES LEADERSHIP TEAM AND COMPANY NAME FOR ADVANCED MATERIALS SPIN-OFF
Honeywell (HON) has announced key leadership appointments for its Advanced Materials spin-off, which will be named Solstice Advanced Materials. The new company, generating nearly $4 billion in revenue last year, will be headquartered in Morris Plains, New Jersey, with the tax-free spin expected to complete by late 2025 or early 2026.
The leadership team includes Dr. Rajeev Gautam as Chairman of the Board, bringing over 40 years of experience, David Sewell as President and CEO with 30+ years in materials industry expertise, and Tina Pierce as CFO with 25+ years at Honeywell. Additionally, Jeff Dormo and Simon Mawson will lead the company's two business segments as Senior VPs.
Solstice Advanced Materials will operate as a sustainability-focused, specialty chemicals and materials pure play company, featuring the Solstice® hydrofluoroolefin technology. The company will maintain a global presence with teams across multiple international locations and benefit from a large-scale domestic manufacturing base.
Honeywell (HON) ha annunciato importanti nomine di leadership per la sua divisione Advanced Materials, che sarà chiamata Solstice Advanced Materials. La nuova azienda, che ha generato quasi 4 miliardi di dollari di fatturato lo scorso anno, avrà sede a Morris Plains, nel New Jersey, con la scissione fiscale prevista per completarsi entro la fine del 2025 o all'inizio del 2026.
Il team di leadership include Dr. Rajeev Gautam come Presidente del Consiglio, con oltre 40 anni di esperienza, David Sewell come Presidente e CEO con oltre 30 anni di esperienza nell'industria dei materiali, e Tina Pierce come CFO con oltre 25 anni in Honeywell. Inoltre, Jeff Dormo e Simon Mawson guideranno i due segmenti aziendali come Vicepresidenti Senior.
Solstice Advanced Materials opererà come un'azienda focalizzata sulla sostenibilità, specializzata in prodotti chimici e materiali, utilizzando la tecnologia Solstice® idrofluoroolefinica. L'azienda manterrà una presenza globale con team in diverse località internazionali e beneficerà di una base di produzione domestica su larga scala.
Honeywell (HON) ha anunciado nombramientos clave de liderazgo para su escisión de Advanced Materials, que se llamará Solstice Advanced Materials. La nueva empresa, que generó casi 4 mil millones de dólares en ingresos el año pasado, tendrá su sede en Morris Plains, Nueva Jersey, con la escisión fiscal prevista para completarse a finales de 2025 o principios de 2026.
El equipo de liderazgo incluye a Dr. Rajeev Gautam como Presidente de la Junta, con más de 40 años de experiencia, David Sewell como Presidente y CEO con más de 30 años de experiencia en la industria de materiales, y Tina Pierce como CFO con más de 25 años en Honeywell. Además, Jeff Dormo y Simon Mawson liderarán los dos segmentos de negocio como Vicepresidentes Senior.
Solstice Advanced Materials funcionará como una empresa centrada en la sostenibilidad, especializada en productos químicos y materiales, utilizando la tecnología Solstice® de hidrofluoroolefinas. La empresa mantendrá una presencia global con equipos en múltiples ubicaciones internacionales y se beneficiará de una base de fabricación doméstica a gran escala.
하니웰 (HON)은 솔스티스 어드밴스드 머티리얼즈라는 이름의 고급 소재 분사의 주요 리더십 인사를 발표했습니다. 지난해 거의 40억 달러의 수익을 올린 이 새로운 회사는 뉴저지주 모리스 플레인즈에 본사를 두고 있으며, 세금 면제 분사는 2025년 말 또는 2026년 초에 완료될 것으로 예상됩니다.
리더십 팀에는 40년 이상의 경험을 가진 Dr. Rajeev Gautam이 이사회 의장으로, 30년 이상의 소재 산업 전문성을 가진 David Sewell이 사장 겸 CEO로, 하니웰에서 25년 이상의 경력을 가진 Tina Pierce가 CFO로 포함되어 있습니다. 또한, Jeff Dormo와 Simon Mawson은 회사의 두 사업 부문을 선임 부사장으로 이끌게 됩니다.
솔스티스 어드밴스드 머티리얼즈는 지속 가능성에 중점을 둔 전문 화학 및 소재 회사로 운영되며, 솔스티스® 하이드로플루오로올레핀 기술을 특징으로 합니다. 이 회사는 여러 국제 위치에 팀을 두고 글로벌 존재감을 유지하며 대규모 국내 제조 기반의 혜택을 누릴 것입니다.
Honeywell (HON) a annoncé des nominations clés à la direction pour sa scission Advanced Materials, qui sera nommée Solstice Advanced Materials. La nouvelle entreprise, qui a généré près de 4 milliards de dollars de revenus l'année dernière, sera basée à Morris Plains, dans le New Jersey, avec une scission fiscale prévue pour être finalisée d'ici fin 2025 ou début 2026.
L'équipe de direction comprend Dr. Rajeev Gautam en tant que Président du Conseil, apportant plus de 40 ans d'expérience, David Sewell en tant que Président et CEO avec plus de 30 ans d'expertise dans l'industrie des matériaux, et Tina Pierce en tant que CFO avec plus de 25 ans chez Honeywell. De plus, Jeff Dormo et Simon Mawson dirigeront les deux segments d'activité en tant que Vice-Présidents Seniors.
Solstice Advanced Materials opérera en tant qu'entreprise axée sur la durabilité, spécialisée dans les produits chimiques et matériaux, avec la technologie Solstice® hydrofluorooléfine. L'entreprise maintiendra une présence mondiale avec des équipes dans plusieurs emplacements internationaux et bénéficiera d'une base de fabrication domestique à grande échelle.
Honeywell (HON) hat wichtige Führungspositionen für seine Abspaltung Advanced Materials bekannt gegeben, die Solstice Advanced Materials heißen wird. Das neue Unternehmen, das im letzten Jahr fast 4 Milliarden Dollar Umsatz erzielt hat, wird seinen Hauptsitz in Morris Plains, New Jersey, haben, wobei die steuerfreie Abspaltung voraussichtlich Ende 2025 oder Anfang 2026 abgeschlossen sein wird.
Das Führungsteam umfasst Dr. Rajeev Gautam als Vorsitzenden des Vorstands mit über 40 Jahren Erfahrung, David Sewell als Präsident und CEO mit über 30 Jahren Erfahrung in der Materialindustrie sowie Tina Pierce als CFO mit über 25 Jahren bei Honeywell. Darüber hinaus werden Jeff Dormo und Simon Mawson die beiden Geschäftssegmente als Senior VPs leiten.
Solstice Advanced Materials wird als ein auf Nachhaltigkeit fokussiertes Unternehmen für Spezialchemikalien und -materialien tätig sein und die Solstice®-Hydrofluoroolefin-Technologie nutzen. Das Unternehmen wird global präsent sein mit Teams an mehreren internationalen Standorten und von einer großen inländischen Produktionsbasis profitieren.
- Experienced leadership team with combined 95+ years of industry expertise
- Strong revenue base of nearly $4 billion
- Large-scale domestic manufacturing capabilities
- Global presence across multiple strategic locations
- Tax-free spin-off structure benefits shareholders
- Potential execution risks during transition to independent company
- Separation costs and operational adjustments may impact short-term performance
- Leadership team selections include Dr. Rajeev Gautam as Chairman of the Board, David Sewell as President and CEO and Tina Pierce as CFO
- Independent company will be named Solstice Advanced Materials
- Headquarters will be located in
Morris Plains, New Jersey
Solstice Advanced Materials will be a publicly traded, sustainability-focused, specialty chemicals and materials pure play. With nearly
Ahead of the planned spin-off, Honeywell has announced several members of the new company's leadership team:
- Dr. Rajeev Gautam has been selected to serve as non-executive Chairman of the Board of Directors, effective on completion of the spin. Gautam brings more than four decades of experience at Honeywell in the process technologies and advanced materials sectors. Prior to his retirement in 2021, he served as President and Chief Executive Officer of Honeywell Performance Materials and Technologies (PMT) and also previously served as President of Honeywell UOP. He currently serves on the board of directors of NN, Inc.
- David Sewell will join as President and Chief Executive Officer of the Advanced Materials business, effective immediately. He is expected to retain this title with the new company upon completion of the spin.
Sewell brings more than 30 years of experience in the materials and chemicals industries, having most recently served as the President and Chief Executive Officer of WestRock Company. Prior to this, he was the President and Chief Operating Officer of The Sherwin Williams Company and spent more than 15 years in General Electric's Plastics and Advanced Materials Division. He currently serves on the boards of directors of the National Association of Manufacturers and Huntsman Corporation. - Tina Pierce has been named Chief Financial Officer of the Advanced Materials business, effective May 1, 2025. She is expected to retain this title with the new company upon completion of the spin. Pierce is currently the Vice President and Chief Financial Officer of Honeywell Industrial Automation and has over 25 years of experience at Honeywell as a global Chief Financial Officer of several major business segments, including Performance Materials and Technologies and Home and Building Technologies. Pierce previously served on the board of directors of Garrett Motion, Inc.
- Jeff Dormo and Simon Mawson will be promoted to lead Solstice Advanced Materials' two business segments, each taking on the role of Senior Vice President and General Manager. Both currently lead business units of Honeywell Advanced Materials and bring a significant range of experience in the chemicals and specialty materials industry, with a focus on business growth and strengthening customer relationships.
"We are pleased to have this accomplished team lead Solstice Advanced Materials, and I have incredible confidence in their ability to innovate and grow the business moving forward," said Vimal Kapur, Chairman and CEO of Honeywell. "Rajeev's 43-year career as a leader in Honeywell's Process Technologies and Advanced Materials businesses combined with David's experience overseeing a multi-year transformation strategy as CEO of a publicly traded company make them the ideal leaders."
Kapur added, "With a trusted legacy built from its breakthrough low global warming Solstice® technology and its next-generation chemistry advances, Solstice Advanced Materials is already well-positioned to be a leader in the specialty chemicals and materials market."
In addition to its headquarters in
Honeywell's Portfolio Optimization
On October 8, 2024, Honeywell announced its plan to spin off its Advanced Materials business into an independent,
Since December 2023, Honeywell has announced a number of strategic actions to drive organic growth and simplify its portfolio. This includes approximately
About Honeywell
Honeywell is an integrated operating company serving a broad range of industries and geographies around the world. Our business is aligned with three powerful megatrends – automation, the future of aviation and energy transition – underpinned by our Honeywell Accelerator operating system and Honeywell Forge IoT platform. As a trusted partner, we help organizations solve the world's toughest, most complex challenges, providing actionable solutions and innovations through our Aerospace Technologies, Industrial Automation, Building Automation and Energy and Sustainability Solutions business segments that help make the world smarter and safer as well as more secure and sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.
We describe many of the trends and other factors that drive our business and future results in this release. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes, or anticipates will or may occur in the future and include statements related to the proposed spin-off of the Company's Advanced Materials business into a stand-alone, publicly traded company and the proposed separation of Automation and Aerospace. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments, and other relevant factors, many of which are difficult to predict and outside of our control. They are not guarantees of future performance, and actual results, developments, and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to material risks and uncertainties, including ongoing macroeconomic and geopolitical risks, such as lower GDP growth or recession, supply chain disruptions, capital markets volatility, inflation, and certain regional conflicts, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K, and our other filings with the Securities and Exchange Commission. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.
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