Thapar Institute of Engineering, Patiala, graduate to lead Honeywell to “the next level of growth and stellar performance”
Yet another American corporate giant is set to be led by an Indian American executive with Honeywell International Inc Tuesday announcing that Vimal Kapur, will take over as CEO of the multinational conglomerate on June 1.
The 57-year-old Kapur will take over the top role at Charlotte, North Carolina headquartered company, roughly 10 months after he was appointed Honeywell’s president and chief operating officer.
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A 34 year veteran of the company Kapur has held several other leadership positions including Managing Director for Honeywell Automation India Limited.
He graduated from the Thapar Institute of Engineering in Patiala, India as an electronics engineer with a specialization in instrumentation.
Kapur, who will succeed Darius Adamczyk 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,” according to the announcement.
“Vimal is absolutely the right person to lead our company to the next level of growth and stellar performance,” said Adamczyk, who will continue to serve as Executive Chairman of Honeywell.
“Vimal is also uniquely capable to drive Honeywell’s sustainable innovation and solidify our position to lead in the energy transition,” he said. “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.”
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“Vimal has demonstrated that he can nimbly evolve business strategies to fit any circumstances – and we have seen that most dramatically in the challenges of the last few years. He is technically and analytically strong with a bias for results and gets the most out of people and processes,” Adamczyk added.
“It is truly an honor to have the opportunity to serve as CEO of Honeywell under Darius’ leadership and the leadership of our world class board of directors,” Kapur said.
“I have had the privilege to work in a variety of businesses and functions over my three decades with Honeywell. Our high-performance culture and exceptional talent set Honeywell apart from other companies, and our innovation inspires me every day by bringing technologies to market that impact the world in a positive way.”
“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. “I am looking forward to continuing to work with Darius and our board to continue to create value for our shareowners and our customers.”
Kapur was named President and Chief Operating Officer in July of 2022, and has been leading the creation of new solutions to help customers drive their sustainability transformations and accelerate their digital transformation journeys, according to the announcement.
As COO, Kapur has also overseen the continued integration of Honeywell Accelerator across the organization and furthering its adoption as an operational system for everything that Honeywell does.
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Prior to his role as COO, Kapur served as President and CEO of PMT, an $11 billion global leader in the development of high-performance products and solutions including low global warming refrigerants; specialty films for healthcare and photovoltaic applications; leading technologies for the global refining and petrochemicals industry; and process solutions.
Under Kapur’s leadership as President and CEO of PMT, the business drove rapid growth in its sustainability portfolio including in circularity, energy evolution, environmental transformation, resiliency and accountability, the release said.
This included launching innovative technologies and partnerships with partners in plastics recycling, introducing large scale renewable energy storage for wind and solar usage and helping our customers lower their carbon footprint and improve energy efficiency with our broad line of low global warming refrigerants.
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%.
Read: Honeywell Names 34-Year Honeywell Veteran Vimal Kapur To Succeed Darius Adamczyk As CEO On June 1, 2023; Kapur Elected To Company’s Board Of Directors; Adamczyk To Serve As Executive Chairman (March 14, 2023)
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.
Honeywell primarily operates in four areas of business: aerospace, building technologies, performance materials and technologies, and safety and productivity solutions.
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