Darius Adamczyk to succeed Dave Cote as Honeywell CEO
July 5, 2016 by Manufacturing AUTOMATION
Jul. 5, 2016 – Darius Adamczyk, Honeywell president and COO, will succeed Dave Cote as CEO on March 31, 2017, announced the company in a statement last week.
“Darius is absolutely the right person to lead our company into a new era where we will need to keep evolving to become even more global, more of a software company, and more nimble. He has the growth mindset, global acumen, and software expertise to be a highly successful CEO for Honeywell,” Cote said. “Darius thinks independently and has demonstrated that he can evolve business strategies to fit evolving circumstances – a very important skill because the world is changing rapidly. He is analytically and strategically strong and results-oriented, and he has a proven growth track record in high growth regions.”
“It is a privilege to have the opportunity to take on a bigger role at Honeywell and ultimately to become the CEO, fully supported by Dave, our very strong Board, and a talented and experienced leadership team,” Adamczyk said. “It has been energizing to see all the ideas we are developing and implementing to build on our great positions in good industries.”
Prior to being president and COO, Adamczyk served as president and CEO of Honeywell Performance Materials and Technologies (PM&T), and president of Honeywell Process Solutions (HPS). He was also president of Honeywell Scanning & Mobility in 2008 when Metrologic, where he was CEO, was acquired by Honeywell.
Cote, who has been chairman and CEO since 2002, will continue as executive chairman until the company’s Annual Shareowners Meeting in April 2018. After that, Cote will start a five-year consulting and non-compete agreement with Honeywell. Under Cote’s leadership over the past 14 years, Honeywell’s market cap grew from $20 billion to $87 billion, said the company.
“Dave has been a passionate and transformative leader throughout his tenure at Honeywell, completely turning around the company from its initial state of disarray,” said Jaime Chico Pardo, Honeywell’s lead director. “When Dave first took the job, Honeywell consisted of three legacy companies – AlliedSignal, Honeywell, and Pittway – that had not been integrated culturally or financially. Today, the company is globally respected with sales outside the U.S. of 55 per cent, a robust pipeline of new products that are primed to create new industries and markets around the world, and a strong and talented global workforce that represents the strong portfolio, processes, and culture that Dave and his team have put in place.”