KEY TAKEAWAYS
- Honeywell International, which announced plans last month to split into three independent companies, said Tuesday it has named David Sewell as the CEO of its advanced materials business.
- Sewell, whose role begins immediately, was previously CEO of paper and packaging firm WestRock Company, which was taken over by Dublin-based Smurfit Kappa.
- The advanced materials unit, which is set to be spun out by late 2025 or early 2026, will be renamed Solstice Advanced Materials and headquartered in Morris Plains, New Jersey, the conglomerate said.
Honeywell International (HON), which announced plans last month to split into three independent companies, said Tuesday it has named David Sewell as the CEO of its advanced materials business.
Sewell, whose role begins immediately, was previously CEO of paper and packaging firm WestRock Company, which was taken over by Dublin-based Smurfit Kappa.
The advanced materials unit, which is set to be spun out by late 2025 or early 2026, will be renamed Solstice Advanced Materials and headquartered in Morris Plains, New Jersey, the conglomerate said. Solstice Advanced Materials will be a “publicly traded, sustainability-focused, specialty chemicals and materials pure play,” Honeywell said. The unit recorded almost $4 billion in revenue last year, according to Honeywell.
Honeywell also named Rajeev Gautam as non-executive chairman of the board of directors, with the role effective once Solstice Advanced Materials is spun off. Gautam retired in 2021 but was previously CEO of Honeywell’s performance materials and technologies business.
Honeywell shares are little changed in premarket trading and have gained around 5% of their value in the past 12 months.
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