Honeywell Taps COO Kapur as Next CEO
Honeywell
HON -0.23%
Honeywell
HON -0.23%
International Inc. has tapped a 34-year company veteran to succeed current chief executive
Darius Adamczyk,
a switch that comes as the industrial company faces slowing growth in the year ahead.
Honeywell on Tuesday named
Vimal Kapur,
57, as its next CEO, effective June 1. Mr. Kapur, who is joining the Honeywell board, has been president and chief operating officer of the Charlotte, N.C., company since June.
Honeywell said the 57-year-old Mr. Adamczyk, who has been CEO since 2017 and chairman since 2018, would continue to serve as executive chairman. He has been with Honeywell since 2008, joining as part of the company’s acquisition of Metrologic.
Honeywell last month reported higher revenue for its fourth-quarter while forecasting that organic revenue growth, which adjusts for foreign exchange and deals, would slow to a range of 2% to 5%, down from 6% in 2022.
Mr. Adamczyk at the time said the wider-than-typical range of financial guidance reflects the broad uncertainty in the economy, ranging from a soft landing to a deep recession.
Honeywell on Tuesday also said that
Doug Wright,
president and CEO of its building-technologies segment, is leaving to pursue another opportunity. The company named Billal Hammoud, currently president of Honeywell’s smart energy and thermal solutions business, to succeed Mr. Wright, effective April 1
Honeywell shares rose 1.6% in early trading to $196.13 and are up around 7% over the last 12 months.
Write to Colin Kellaher at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Honeywell
HON -0.23%
Honeywell
HON -0.23%
International Inc. has tapped a 34-year company veteran to succeed current chief executive
Darius Adamczyk,
a switch that comes as the industrial company faces slowing growth in the year ahead.
Honeywell on Tuesday named
Vimal Kapur,
57, as its next CEO, effective June 1. Mr. Kapur, who is joining the Honeywell board, has been president and chief operating officer of the Charlotte, N.C., company since June.
Honeywell said the 57-year-old Mr. Adamczyk, who has been CEO since 2017 and chairman since 2018, would continue to serve as executive chairman. He has been with Honeywell since 2008, joining as part of the company’s acquisition of Metrologic.
Honeywell last month reported higher revenue for its fourth-quarter while forecasting that organic revenue growth, which adjusts for foreign exchange and deals, would slow to a range of 2% to 5%, down from 6% in 2022.
Mr. Adamczyk at the time said the wider-than-typical range of financial guidance reflects the broad uncertainty in the economy, ranging from a soft landing to a deep recession.
Honeywell on Tuesday also said that
Doug Wright,
president and CEO of its building-technologies segment, is leaving to pursue another opportunity. The company named Billal Hammoud, currently president of Honeywell’s smart energy and thermal solutions business, to succeed Mr. Wright, effective April 1
Honeywell shares rose 1.6% in early trading to $196.13 and are up around 7% over the last 12 months.
Write to Colin Kellaher at [email protected]
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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