MORRISTOWN (dpa-AFX) - Honeywell International, Inc. (HON) announced Tuesday key leadership roles for its Advanced Materials business, which will be named Solstice Advanced Materials after its tax-free spin to shareholders targeted to be completed by late 2025 or early 2026. The independent company will be headquartered in Morris Plains, New Jersey.
Solstice Advanced Materials will be a publicly traded, sustainability-focused, specialty chemicals and materials pure play. With nearly $4 billion in revenue last year, Solstice Advanced Materials will offer leading technologies with premier brands, including the Solstice hydrofluoroolefin technology.
Ahead of the planned spin-off, Honeywell has announced several members of the new company's leadership team.
Rajeev Gautam has been selected to serve as non-executive Chairman of the Board of Directors, effective on completion of the spin. Gautam brings more than four decades of experience at Honeywell in the process technologies and advanced materials sectors.
Prior to his retirement in 2021, Gautam served as President and Chief Executive Officer of Honeywell Performance Materials and Technologies (PMT) and also previously served as President of Honeywell UOP.
David Sewell will join as President and CEO of the Advanced Materials business, effective immediately. He brings more than 30 years of experience in the materials and chemicals industries, having most recently served as the President and CEO of WestRock Company. Prior to this, he was the President and Chief Operating Officer of The Sherwin Williams Co. and spent more than 15 years in General Electric's Plastics and Advanced Materials Division.
Tina Pierce has been named Chief Financial Officer of the Advanced Materials business, effective May 1, 2025. She is currently the Vice President and Chief Financial Officer of Honeywell Industrial Automation and has over 25 years of experience at Honeywell as a global Chief Financial Officer of several major business segments.
Jeff Dormo and Simon Mawson will be promoted to lead Solstice Advanced Materials' two business segments, each taking on the role of Senior Vice President and General Manager. Both currently lead business units of Honeywell Advanced Materials.
In addition to its headquarters in Morris Plains, New Jersey, Solstice Advanced Materials will have teams located in Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest and Mexico City. The independent company will maintain its global manufacturing footprint along with additional R&D sites.
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