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CHARLOTTE, NC – Honeywell International Inc. (NASDAQ:HON), a prominent player in the Industrial Conglomerates sector with a market capitalization of $135 billion, announced significant changes to its executive team, including the appointment of a new Chief Financial Officer (CFO) and the transition of a senior vice president to a new role, according to a recent 8-K filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company currently trades near its Fair Value, maintaining strong financial metrics with $38.5 billion in revenue over the last twelve months.
The company reported that Robin L. Washington has decided to step down from the Board of Directors, effective March 31, 2025. Her departure follows her new appointment as President and Chief Operating and Financial Officer of Salesforce (NYSE:CRM), Inc. The company stated that Washington’s resignation is not due to any disagreements with Honeywell’s operations, policies, or practices.
On Sunday, Mike Stepniak, 47, was elected by Honeywell’s Board to serve as the company’s Senior Vice President and CFO, effective immediately. Stepniak, who has been with Honeywell since October 2024 as Vice President of Finance, brings a wealth of experience from his previous roles within the company and nearly two decades at General Electric (NYSE:GE).
Stepniak’s promotion includes a base salary of $925,000, with the potential for target annual incentive compensation equal to 100% of his base salary, which will be prorated for 2025. Additionally, he is eligible for annual long-term incentive awards with a target value of $3,800,000. InvestingPro data shows Honeywell maintains a P/E ratio of 23.7 and has consistently paid dividends for 41 consecutive years, demonstrating strong financial stability. For deeper insights into Honeywell’s financial health and executive compensation trends, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
Gregory P. Lewis (JO:LEWJ), the predecessor, has been elected to the newly-created position of Senior Vice President, Transformation and Senior Advisor. Effective Sunday, Lewis will continue to report to Honeywell’s Chairman and CEO, Vimal Kapur, but will no longer serve as an executive officer. His new role comes with a base salary of $750,000 and similar incentive opportunities as Stepniak, though these will change when he transitions to Senior Advisor later in the year.
The company has clarified that there are no familial or undisclosed arrangements between Stepniak and any other company personnel. Honeywell has also confirmed that it has not engaged in any transactions with Stepniak requiring disclosure under SEC regulations.
The information in this article is based on a press release statement from Honeywell International Inc. and provides a factual report of the company’s executive changes without speculation or endorsement of the company’s future performance. InvestingPro analysis indicates the company maintains a FAIR overall financial health score, with particularly strong profitability metrics. Subscribers can access 12 additional exclusive ProTips and comprehensive financial analysis through the Pro Research Report.
In other recent news, Honeywell International Inc. is under scrutiny by Fitch Ratings, following its announcement to split into three separate companies. The rating agency has placed Honeywell’s ratings, including its Long- and Short-Term Issuer Default Ratings, on Rating Watch Negative due to uncertainty surrounding the company’s future capital structure and financial policy. The separation of its Aerospace Technologies and Automation businesses is expected to occur in the second half of 2026.
Honeywell’s decision to split, resulting from a comprehensive portfolio evaluation, will create three distinct publicly traded companies focusing on Automation, Aerospace, and Advanced Materials. The company aims to capitalize on individual growth opportunities for each sector, with Honeywell Automation and Honeywell Aerospace estimated to generate revenues of $18 billion and $15 billion respectively in 2024.
The company’s recent developments also include the spinoff of the Advanced Materials business by early 2026 and the sale of the Personal Protective Equipment business, expected to be completed in the first half of 2025. Additionally, Honeywell has completed several significant acquisitions totaling approximately $9 billion in 2024, expanding its product line and increasing its software and digital content.
In related news, Honeywell is reportedly showing interest in Boeing Co (NYSE:BA).’s potential sale of its Jeppesen navigation unit, alongside major aviation suppliers and private equity firms. The planned separations are subject to regulatory approvals and final board approval. These developments follow pressure from Elliott Investment Management, advocating for the company to consider a breakup.
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