Honeywell Names 34-Year Company Veteran Vimal Kapur To Succeed Darius Adamczyk As CEO

Honeywell announced that Vimal Kapur, president and chief operating officer, will succeed Darius Adamczyk as chief executive officer on June 1, 2023. Adamczyk, who became COO in 2016, CEO in 2017 and chairman in 2018, will continue to serve as executive chairman of Honeywell. Kapur was also appointed to the company's board of directors effective March 13, 2023. These moves ensure a seamless leadership transition and position Honeywell for continued outperformance versus peers.

"Vimal is absolutely the right person to lead our company to the next level of growth and stellar performance," Adamczyk said. "He brings 34 years of deep knowledge about our businesses, end markets and customer needs. His ability to drive our key sustainability and digitalization strategic initiatives, along with his advancement of our world-class operating system – Honeywell Accelerator – throughout the organization, gives him an outstanding platform to drive continued outperformance for our shareowners. Honeywell's next operational evolution, under Vimal's leadership, will be the incorporation of Accelerator and standardization of global business models to enable maximal performance in each business segment."

"Vimal is also uniquely capable to drive Honeywell's sustainable innovation and solidify our position to lead in the energy transition. Now more than ever, our customers need our solutions to help their businesses be more efficient and more sustainable, and under Vimal's leadership, Honeywell's sustainability technologies will help our customers achieve their goals, today and into the future."

"It is truly an honor to have the opportunity to serve as CEO of Honeywell under Darius' leadership and the leadership of our world-class board of directors," Kapur said. "I have had the privilege to work in a variety of businesses and functions over my three decades with Honeywell. Our high-performance culture and exceptional talent set Honeywell apart from other companies, and our innovation inspires me every day by bringing technologies to market that impact the world in a positive way. Honeywell is playing a major role in making the world a better place, and I am both proud and humbled to take on the CEO role of this great company. I am looking forward to continuing to work with Darius and our board to continue to create value for our shareowners and our customers." 

Kapur, 57, was named president and COO in July of 2022, and has been leading the creation of new solutions to help customers drive their sustainability transformations and accelerate their digital transformation journeys. As COO, Kapur has also overseen the continued integration of Honeywell Accelerator across the organization and furthering its adoption as an operational system for everything that Honeywell does.

Adamczyk, 57, was named COO in 2016, CEO in 2017 and chairman and CEO in 2018, and has led Honeywell to significantly and consistently outperform peer companies, the S&P 500 and the XLI. Under Adamczyk's leadership, from 2016 through 2022, Honeywell's market capitalization grew from $88 billion to $145 billion, a 9% CAGR. Over that period, Honeywell's cumulative total shareholder return was 128% versus 109% for the S&P 500 and 100% for the XLI. 

"Darius has been a truly transformational leader throughout his tenure at Honeywell. He created our industrial software business, as well as architected and executed our differentiated value creation framework, including transformational strategies in digitalization, integrated supply chain, breakthrough innovation, enhanced SaaS offerings and ESG," said Scott Davis, Honeywell's lead director. "Under his leadership, the strong portfolio, processes and culture that he and his team have put in place have taken Honeywell's performance standards to a new level. Our performance has consistently outperformed the markets, and we are well-positioned for growth acceleration with strong macro tailwinds in our core end markets and accretive gains from incremental breakthrough initiatives. Our heritage of innovation in sustainability solutions is a strength that sets Honeywell apart."

In his role as executive chairman, Adamczyk will be focused primarily on supporting customer relationships, business development, enterprise strategic planning, shaping the portfolio and global government relations.

For more information visit Honeywell’s website.