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Honeywell Appoints David Sewell as CEO of Future Spin-off Solstice Advanced Materials
Honeywell has appointed David Sewell as the President and CEO of its advanced materials business, which is set to become an independent company named Solstice Advanced Materials, focused on sustainable materials. The spinoff is expected to be finalized by late 2025 or early 2026.
Lead: In a significant move to streamline its operations, Honeywell has named David Sewell to lead its advanced materials division. The unit will be rebranded as Solstice Advanced Materials and is scheduled to spin off into a publicly listed entity by late 2025 or early 2026. This announcement comes as part of Honeywell’s strategy to simplify its business model while focusing on sustainable specialty chemicals.
Key Leadership Appointments at Honeywell
– **David Sewell’s Background**
– Appointed as President and CEO of Solstice Advanced Materials, effective immediately.
– Brings over 30 years of experience in the materials and chemicals sectors.
– Former CEO of WestRock Company, acquired by Smurfit Kappa in an $11 billion transaction.
– **Tina Pierce as Chief Financial Officer**
– Appointed as Chief Financial Officer of the new unit, starting May 1.
– Has a 25+ year track record at Honeywell and previously served as CFO of the industrial automation segment.
Strategic Moves for Honeywell’s Future
– **Company Reorganization**
– Honeywell is also set to separate its aerospace and automation businesses, transforming itself into three independent firms.
– Solstice Advanced Materials will be headquartered in Morris Plains, New Jersey.
– **Leadership Insights**
– Honeywell CEO Vimal Kapur emphasized the strength of the new leadership team.
– “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, make them the ideal leaders,” Kapur stated.
Conclusion: As Honeywell moves forward with its restructuring plans, the appointment of experienced leaders like David Sewell and Tina Pierce indicates a focused approach towards sustainability and specialization in the market. The expected spin-off of Solstice Advanced Materials marks a pivotal step in Honeywell’s journey to enhance its operational efficiency and commitment to sustainable innovation.
Keywords: Honeywell, David Sewell, Solstice Advanced Materials, sustainability, advanced materials spin-off, corporate restructuring, specialty chemicals
Hashtags: #Honeywell #DavidSewell #SolsticeAdvancedMaterials #Sustainability #CorporateRestructuring
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