MORRIS TOWNSHIP, N.J., April 9, 2013 /PRNewswire/ -- Honeywell (NYSE: HON) today announced several senior leadership changes reflecting its continued evolution, global growth, and development of leadership.
"Honeywell is in an enviable position to capitalize on the strength and experience of a highly capable leadership team to support the further development of our organization," said Chairman and CEO Dave Cote. "These changes will have a positive impact on our long-term plans for continued profitable growth, greater productivity, and geographic expansion."
Alex Ismail, President and CEO, Transportation Systems (TS), will become President, Energy, Safety, and Security (ESS), a newly-created leadership position, which includes five businesses -- Environmental and Combustion Controls, Life Safety, Security Group, Scanning & Mobility, and Sensing and Control -- within Automation and Control Solutions (ACS) and represents $8 billion or approximately 50% of total 2012 ACS sales. Alex will report to Roger Fradin, President and CEO of ACS, and will remain an Executive Officer of the company. Building Solutions and Process Solutions will continue to report directly to Roger. Alex will transition from TS to ACS over the next six weeks, with his official start date in ACS on May 20.
Terrence Hahn, who currently serves as Vice President and General Manager, Fluorine Products within Performance Materials and Technologies (PMT), will succeed Alex as President and CEO, Transportation Systems. Terrence will report to Chairman and CEO Dave Cote and become an Executive Officer of Honeywell. He will transition from PMT to TS over the next six weeks and his official start date in TS is May 20.
Tom Szlosek has been named Vice President, Corporate Finance, reporting to Dave Anderson, Senior Vice President and CFO. Tom becomes an Officer of the company and will have responsibility for Treasury, Tax, Investor Relations, Audit, Business Analysis and Planning, and Finance Operations (Functional Transformation). Greg Lewis succeeds Tom as Vice President and CFO of ACS. Greg most recently served as Vice President and CFO for Process Solutions within ACS. Dave will continue as Honeywell CFO with direct responsibility for the Global Finance function of the company and the strategic business groups (SBGs), Controllership, Corporate Development, Pension, and Real Estate.
"These senior leadership changes are terrific examples of our ongoing commitment to evolving as a company, which includes the development of our leaders by presenting them with new and challenging growth opportunities," continued Cote. "Each of the leaders has a strong track record of global leadership, robust business performance, and championing change at Honeywell. We look forward to their continued contribution in their new roles."
"Honeywell is on a terrific path forward," concluded Cote. "Our relentless focus on execution and results has delivered a performance track record that has benefited our employees, customers, and shareowners. The executive moves announced today are a step forward and another example of how the best is yet to come for Honeywell."
Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell's shares are traded on the New York, London, and Chicago Stock Exchanges. For more news and information on Honeywell, please visit www.honeywellnow.com.
This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements.