Vimal Kapur is Chairman and Chief Executive Officer of Honeywell, an integrated operating company serving a broad range of industries and solving the world''s toughest, most complex challenges.
Under his leadership, the company has aligned its portfolio to three powerful megatrends: automation, the future of aviation and energy transition. Vimal is relentlessly focused on accelerating growth through innovation, portfolio shaping, simplification and the Accelerator Operating System.
As President and CEO of Performance Materials and Technologies (2021 – 2022), Vimal drove top- and bottom-line growth and established the sustainable technologies solutions business that produces many of the technologies necessary for the energy transition. During his time leading the strategic business group that focuses on Building Automation (2018 – 2021), this business took share from peers and significantly expanded margins during a global pandemic.
Previously, Vimal served as President of Honeywell Process Solutions (HPS), which he led through an oil and gas downturn, positioning it to emerge as an even stronger competitor.
He started his career at a Honeywell joint venture and eventually became the Managing Director of Honeywell Automation India Ltd. Vimal graduated from Thapar Institute of Engineering in Patiala, India, as an electronics engineer.
-- Under Adamczyk''s Leadership, Honeywell Continued to Outperform Market and Peers, Growing Market Capitalization from $88 Billion in 2016 to $145 Billion in 2022, a 9% CAGR
CHARLOTTE, N.C., March 14, 2023 /PRNewswire/ -- Honeywell (NASDAQ:HON) today announced thatVimal Kapur, President and Chief Operating Officer, will succeedDarius Adamczykas Chief Executive Officer onJune 1, 2023. Adamczyk, who became Chief Operating Officer in 2016, Chief Executive Officer in 2017 and Chairman in 2018, will continue to serve as Executive Chairman of Honeywell. Kapur was also appointed to the company''s board of directors effective March 13, 2023. These moves ensure a seamless leadership transition and position Honeywell for continued outperformance versus peers.
"Vimal is also uniquely capable to drive Honeywell''s sustainable innovation and solidify our position to lead in the energy transition. Now more than ever, our customers need our solutions to help their businesses be more efficient and more sustainable, and under Vimal''s leadership, Honeywell''s sustainability technologies will help our customers achieve their goals, today and into the future."
"In his role as COO, Vimal has driven continued operational execution on our proven value creation framework, all of which is underpinned by Accelerator. We have also made significant strides in advancing our digital solutions – both to enhance our own internal operations and decision-making and in support of our customers to benefit their digitization transformations. The rigor of our digital solutions is a real differentiator for Honeywell and will enable us to achieve consistent and sustained outperformance."
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. Under Kapur''s leadership, the HBT business successfully launched the Healthy Building portfolio and expanded margins by ~200 basis points over three years.
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%.
Prior to that, Kapur was Vice President and General Manager of the Advanced Solutions line of business, where he built the foundation of an outcome-driven software business, successfully integrating the Matrikon acquisition into Honeywell.Additionally, he has held several other leadership positions including Managing Director for Honeywell Automation India Limited.Kapur graduated from the Thapar Institute of Engineering in Patiala,India as an electronics engineer with a specialization in instrumentation.
Adamczyk, 57, was named COO in 2016, CEO in 2017 and Chairman and CEO in 2018, and has led Honeywell to significantly and consistently outperform peer companies, the S&P 500 and the XLI. Under Adamczyk''s leadership, from2016 through 2022, Honeywell''s market capitalization grew from$88 billionto$145 billion, a 9% CAGR. Over that period, Honeywell''s cumulative total shareholder return was 128% versus 109% for the S&P 500 and 100% for the XLI. The company''s annualized dividend rate grew from$2.27to$4.12, an increase of 82%, while its share price rose 99% over the same time frame.
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