On March 14, 2023, Honeywell, a technology and manufacturing company, announced that Vimal Kapur, the current President, and Chief Operating Officer, will succeed Darius Adamczyk as Chief Executive Officer on June 1, 2023. Adamczyk, who served as COO in 2016, CEO in 2017, and Chairman in 2018, will continue as Executive Chairman. Kapur was appointed to Honeywell’s board of directors, effective March 13, 2023.
The appointment of Vimal Kapur, a 34-year veteran of Honeywell, reflects the company’s thoughtful succession plan that positions Honeywell for continued outperformance compared to peers. Adamczyk praised Kapur’s deep knowledge of Honeywell’s businesses, end markets, and customer needs, and his ability to drive key sustainability and digitalization strategic initiatives. He also highlighted Kapur’s advancement of Honeywell’s world-class operating system, Honeywell Accelerator, throughout the organization. Kapur’s track record and operational expertise are expected to position Honeywell for the next level of outperformance against peers.
Under Adamczyk’s leadership, Honeywell’s market capitalization grew from $88 billion in 2016 to $145 billion in 2022, a 9% CAGR, as the company continued to outperform the market and peers. The appointment of Kapur as CEO is part of Honeywell’s seamless leadership transition plan, which aims to ensure the continuity of the company’s high-performance culture and exceptional talent.
Kapur, who assumed his role as COO in July 2022, 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 organization and its adoption as an operational system for everything that Honeywell does.
Vimal Kapur brings a depth of operating experience that is unparalleled at Honeywell, having operated across the company’s multiple business models, industries, regions, and business cycles. Before his role as COO, he served as President and CEO of Performance Materials and Technologies (PMT), driving rapid growth in the sustainability portfolio, including in circularity, energy evolution, environmental transformation, resiliency, and accountability.
In his new role as CEO, Kapur is expected to lead Honeywell’s strategic plans and execute them with rigor against its profitable growth plans. He aims to incorporate Accelerator and standardize global business models to enable maximal performance in each business segment, drive sustainable innovation, and solidify Honeywell’s position to lead in the energy transition. Honeywell’s sustainability technologies are expected to help customers achieve their sustainability goals, today and in the future.
Kapur expressed his excitement and gratitude for the opportunity to serve as CEO of Honeywell under Adamczyk’s leadership and the world-class board of directors. He looks forward to continuing to work with Adamczyk and the board to create value for Honeywell’s shareholders and customers.