Honeywell (NYSE: HON) has announced promotions and other changes within its leadership ranks as part of a five-year plan that aims to grow its businesses, expand geographically and improve its sales and margin rate.
The company has “an ongoing commitment to evolving as a company, which includes the newly created vice chairman positions and the development of our highly capable management bench by presenting them with new and challenging growth opportunities, ” Honeywell Chairman and CEO Dave Cote said Monday.
Roger Fradin and Andreas Kramvis were promoted to vice chairmen of Honeywell, while Alex Ismail and Darius Adamczyk were named president & CEO of Automation and Control Solutions and Performance Materials and Technologies, respectively.
Tom Szlosek is now senior vice president and chief financial officer, taking over Dave Anderson, who is set to retire after his 10-year tenure as CFO.
Szlosek, formerly vice president of corporate finance and CFO of ACS, reports directly to Cote and becomes an executive officer of the company.
The company expects Fradin to lead its internal operations, merger and acquisition initiatives and high growth regions expansion, while Kramvis will oversee the global deployment of HOS Gold and seek to improve the company’s software development processes.
Ismail and Adamczyk, who replace Fradin and Kramvis as heads of ACS and PMT, will guide the transfer of Honeywell Process Solutions to PMT from ACS.
HPS is a $3.1 billion business that specializes in automation control for the oil and gas, refining, petrochemical and other industrial process manufacturing industries.
Under ACS, Ismail will head Honeywell Building Solutions and the energy, safety, and security portfolios while Adamczyk will handle HPS, UOP and advanced materials under PMT.
