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Honeywell International Inc. (NASDAQ:HON), a prominent $141.6 billion industrial conglomerate with annual revenues of $40 billion, announced Friday the appointment of Peter Lau as president and CEO of its Industrial Automation segment, effective October 15. Lau, age 46, will serve as an executive officer and report to Honeywell chairman and CEO Vimal Kapur. According to InvestingPro analysis, Honeywell currently trades near its Fair Value, demonstrating strong market positioning.
The company stated that Lucian Boldea, age 54, the current president and CEO of the Industrial Automation segment, will depart from Honeywell on August 31. The company maintains a strong financial position, with a 38% gross profit margin and a 41-year track record of consistent dividend payments.
Lau most recently served as president and CEO of FARO Technologies (NASDAQ:FARO) from July 2023 until October 2025. He previously held leadership roles at Honeywell, including president of its Security, Fire and Electrical Products businesses from January 2018 to August 2020. His prior experience also includes senior positions at Hubbell, General Electric (NYSE:GE), and Catalyst Nutraceuticals. Lau holds a Bachelor of Science degree in Business Administration from Northeastern University.
The information is based on a press release statement included in a filing with the Securities and Exchange Commission.
In other recent news, Honeywell announced the appointment of Peter Lau as President and CEO of its Industrial Automation business, effective October 15, 2025. Lau returns to the company after previously serving as President of Honeywell’s Security, Fire, and Electrical Products businesses. Honeywell has also named 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 Independent (LON:IOG) Chair, with David Sewell as President and CEO of the new entity. The company filed a Form 10 registration statement with the SEC for this planned spin-off, marking a significant step towards Solstice becoming an independent public company. Additionally, Honeywell has acquired three utility platforms from SparkMeter, Inc. to enhance its Smart Energy portfolio. The platforms include Praxis, GridScan, and GridFin, which focus on utility asset insights, distribution grid performance, and financial management, respectively. In other developments, reports suggest that Honeywell’s quantum computing venture, Quantinuum, is exploring a fundraising round at a valuation of approximately $10 billion.
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