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CHARLOTTE - Honeywell (NASDAQ:HON), a prominent $138 billion industrial conglomerate with annual revenues of $40 billion, announced Friday the appointment of Peter Lau as President and CEO of its Industrial Automation business, effective October 15, 2025. According to InvestingPro data, Honeywell maintains strong financial health with robust profit metrics.
Lau, who previously served as President of Honeywell’s Security, Fire and Electrical Products businesses, returns to the company to succeed Lucian Boldea, who is leaving at the end of August to pursue another opportunity. The company has demonstrated consistent financial stability, maintaining dividend payments for 41 consecutive years with a current yield of 2.08%.
Most recently, Lau was President and CEO of FARO Technologies, where he led a strategic transformation that culminated in the company’s acquisition. In his prior role at Honeywell, he helped transition offerings from hardware to software-based solutions while expanding global operations.
"We are delighted to welcome Pete back to Honeywell," said Vimal Kapur, Chairman and CEO of Honeywell. "He brings deep industry knowledge, a passion for our business and a strong track record of driving growth."
The leadership change comes as Honeywell evaluates strategic alternatives for its Productivity Solutions and Services and Warehouse and Workflow Solutions businesses, which are part of the Industrial Automation segment. This evaluation aligns with Honeywell’s planned separation into three independent companies, expected to be completed in the second half of 2026.
Following the separation, Honeywell will focus on building automation, process automation technologies and industrial automation.
Lau will be based in Charlotte, North Carolina, and will report directly to Kapur. He holds a Bachelor of Science degree in Business Administration from Northeastern University.
The information in this article is based on a company press release statement.
In other recent news, Honeywell has announced the future Board of Directors for Solstice Advanced Materials, which is set to be spun off in the fourth quarter of 2025. Dr. Rajeev Gautam will serve as the Independent Chair, and David Sewell will take the role of President and CEO. Honeywell also filed a Form 10 registration statement with the Securities and Exchange Commission for this planned spin-off, marking a significant step toward Solstice becoming an independent public company. In another development, Honeywell has acquired three utility platforms from SparkMeter, Inc. to enhance its Smart Energy portfolio. The acquisition includes platforms focused on utility asset insights, distribution grid performance, and financial management for energy supply costs. Furthermore, Resideo Technologies has completed a $1.59 billion payment to Honeywell, terminating all future obligations under their Indemnification and Reimbursement Agreement. This payment eliminates Resideo’s requirement to make annual payments to Honeywell through 2043. Additionally, Honeywell’s quantum computing venture, Quantinuum, is reportedly seeking a valuation of approximately $10 billion in a new fundraising round, according to Bloomberg.
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