Honeywell names Vimal Kapur as CEO
Honeywell has named Vimal Kapur as successor to Chief Executive Officer Darius Adamczyk, effective from June 1, 2023. Kapur was appointed to the company's board of directors effective March 13, 2023. While Adamczyk will continue to serve as Executive Chairman of Honeywell. In his role as Executive Chairman, Adamczyk will be focused primarily on supporting customer relationships, business development, and enterprise strategic planning, shaping the portfolio and global government relations.
In his current role, Kapur, 57, is serving as President and Chief Operating Officer since July 2022 and has been leading the creation of new solutions to help customers drive their sustainability transformations and accelerate their digital transformation journeys.
As COO, Kapur has also overseen the continued integration of Honeywell Accelerator across the organisation and furthering its adoption as an operational system for everything that Honeywell does.
Prior to his role as COO, Kapur served as President and CEO of PMT, an $11 billion global leader in the development of high-performance products and solutions including low global warming refrigerants; specialty films for healthcare and photovoltaic applications; leading technologies for the global refining and petrochemicals industry; and process solutions.
Prior to leading PMT, Kapur served as President and CEO of HBT, a $6 billion global leader in building technology offerings, which improve energy performance, air quality and the safety and security of commercial buildings in more than ten million buildings worldwide.
Before leading HBT, Kapur also held the role of President of Honeywell Process Solutions, where he successfully led the business through the oil and gas downturn. Over a three-year period, Kapur was able to increase sales by 6%, expand margins by over 400 basis points and grow cash margins by 860 basis points to over 17%.
An electronics engineer graduate with specialistaion in instrumentation from the Thapar Institute of Engineering in Patiala, Kapur also worked as Vice President and General Manager of the Advanced Solutions line of business.
"Vimal is absolutely the right person to lead our company to the next level of growth and stellar performance," Adamczyk said. "Vimal brings 34 years of deep knowledge about our businesses, end markets and customer needs. His ability to drive our key sustainability and digitalization strategic initiatives, along with his advancement of our world class operating system – Honeywell Accelerator – throughout the organization, gives him an outstanding platform to drive continued outperformance for our shareowners. Honeywell's next operational evolution, under Vimal's leadership, will be the incorporation of Accelerator and standardization of global business models to enable maximal performance in each business segment."
"It is truly an honor to have the opportunity to serve as CEO of Honeywell under Darius' leadership and the leadership of our world class board of directors," Kapur said. "I have had the privilege to work in a variety of businesses and functions over my three decades with Honeywell. Our high-performance culture and exceptional talent set Honeywell apart from other companies, and our innovation inspires me every day by bringing technologies to market that impact the world in a positive way. Honeywell is playing a major role in making the world a better place, and I am both proud and humbled to take on the CEO role of this great company. I am looking forward to continuing to work with Darius and our board to continue to create value for our shareowners and our customers."