Honeywell announced Tuesday Vimal Kapur, president and chief operating officer, will succeed Darius Adamczyk as chief executive officer on June 1, 2023. Adamczyk, who became chief operating officer in 2016, chief executive officer 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. “Vimal 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,” Adamczyk said. “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.”
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 his leadership, Honeywell’s market capitalization grew from $88 billion to $145 billion.
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.
“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,” Scott Davis, Honeywell’s lead director, said. “Under Darius’ leadership, the strong portfolio, processes and culture that Darius and his team have put in place have taken Honeywell’s performance standards to a new level.”
Adamczyk speaks at CLT Alliance Annual Outlook, Dec. 2022
“Our selection of Vimal to succeed Darius is a tribute to Darius’ success as chairman and CEO,” Davis continued. “We wanted to appoint a successor capable of building on the strong foundation Darius has built, while taking Honeywell to the next level of out-performance over the long run. In Vimal, we have a proven leader who can enhance Honeywell’s growth rate and operational excellence and drive Honeywell to be the leader in industrial software and sustainability solutions. Darius and Vimal work exceedingly well together, and we are confident the transition will be seamless. As executive chairman, Darius will continue to play a vital role in direct engagement with customers, business development opportunities and leadership development. Vimal has exhibited the key leadership qualities and operational expertise that will allow him to thrive as Honeywell’s next CEO, and Darius and the board will do everything possible to support Vimal’s success.”
Kapur, 57, was named president and chief operating officer 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. Prior to his role as COO, Vimal served as president and CEO of PMT, an $11 billion global leader in the development of high-performance products and solutions including low global warming refrigerants; specialty films for health care and photovoltaic applications; leading technologies for the global refining and petrochemicals industry; and process solutions. Under Kapur’s leadership as president and CEO of PMT, the business drove rapid growth in its sustainability portfolio including in circularity, energy evolution, environmental transformation, resiliency and accountability.
“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.”
