US-based consumer tech conglomerate Honeywell on Tuesday announced that Vimal Kapur, President and Chief Operating Officer, will succeed Darius Adamczyk as CEO on June 1.
Having graduated from the Thapar Institute of Engineering in Punjab's Patiala as an electronics engineer with a specialisation in instrumentation, Kapur was also appointed to the company's board of directors, effective March 13.
Adamczyk will continue to serve as Executive Chairman of Honeywell, said the company, adding that these moves ensure a seamless leadership transition and position Honeywell for continued outperformance versus peers.
"Kapur brings 34 years of deep knowledge about our businesses, end markets and customer needs. His ability to drive our key sustainability and digitalisation strategic initiatives, along with his advancement of our world class operating system - Honeywell Accelerator - throughout the organisation, gives him an outstanding platform to drive continued outperformance for our shareowners," said Adamczyk.
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Kapur, 57, was named President and COO in 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, he served as President and CEO of Performance Materials and Technologies (PMT), an $11 billion global leader in the development of high-performance products and solutions.
Kapur said that it has been a privilege to work in a variety of businesses and functions over his three decades with Honeywell.
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"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," he said.
Prior to leading PMT, Kapur served as President and CEO of HBT, a $6 billion global leader in building technology offerings.
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.
Under his leadership, Honeywell's market capitalisation grew from $88 billion to $145 billion.