Exhibit 10.1

March 13, 2023

Mr. Darius Adamczyk

Chairman and Chief Executive Officer

Honeywell International Inc.

855 S. Mint Street

Charlotte, NC 28202

Dear Darius:

I am pleased to present this letter agreement (the “Letter Agreement”) regarding your employment arrangements with Honeywell International Inc. (the “Company”) beginning on June 1, 2023 (the “Effective Date”).

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For the avoidance of doubt, once you cease serving in the Executive Chairman role, you will cease to be covered by the Severance Plan.

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Please indicate your acceptance of the terms and conditions of this letter by returning a signed copy of this letter to my attention.

Very truly yours,

/s/ Grace Lieblein    3/13/23

Grace Lieblein

Chair, Management Development and Compensation Committee

Board of Directors

Honeywell International Inc.

Read and Accepted:

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Exhibit 10.2

March 13, 2023

Vimal Kapur

2101 City West Boulevard

Houston, Texas 77042

Dear Vimal:

I am pleased to confirm our offer to you to become Honeywell’s Chief Executive Officer (“CEO”), based in Charlotte, North Carolina. The effective date of your promotion will be June 1, 2023 (“Effective Date”), subject to the terms and conditions of this letter agreement (“Agreement”).

In connection with your new role, you will be entitled to the following compensation and benefits package, as previously approved by the Management Development and Compensation Committee (“MDCC”) of the Company’s Board of Directors:

COMPENSATION

Base Salary: As of the Effective Date, your annual base salary will be increased to $1,500,000. Base salary reviews occur annually and any adjustments are generally at the end of the first quarter of the calendar year. Adjustments are based on your performance and other relevant factors. You will next be eligible for a base salary review in March of 2024.

Annual Incentive Compensation: As of the Effective Date, your target incentive compensation opportunity will be 175% of your annual cash base salary earnings during the year. For 2023, your incentive compensation award will be prorated based on the number of days your target incentive was 125%, and the number of days your target incentive will be 175%. Incentive compensation awards are paid in the first quarter of the following year.

Annual Long-Term Incentive Awards: Beginning in 2024, you will be eligible to receive annual long-term incentive (“LTI”) awards consisting of stock options (“Options”), performance stock units (“PSUs”), restricted stock units (“RSUs”), or cash awards, or some combination thereof, as determined by the Company in its sole discretion. The terms of all LTI awards are governed by the terms of the applicable stock plan and the relevant award agreements. Moreover, Honeywell and the MDCC reserve the right to modify the design or mix of the LTI award program in the future.

Your initial LTI award as Honeywell’s CEO shall be in 2024 and will have a target value of $13,000,000, with no less than 50% of the target value being in the form of three-year performance stock units under the Performance Plan. The size and terms of any future LTI awards will be determined by the Board in the ordinary course, will reflect Company performance, your performance and future career potential, and will be determined in a manner consistent with prior LTI awards.

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SPECIAL PROMOTION GRANT

As of your Effective Date, you will receive a special LTI grant with a grant date value equal to $4,140,000. The special grant shall be 50% in PSUs, 25% in RSUs and 25% in Options. The components of the special LTI grant shall be granted under, and shall be subject to the terms of, the applicable Stock Incentive Plan of Honeywell International Inc. and its Affiliates and governed by the relevant award agreements.

OTHER EXECUTIVE BENEFITS

You will also be entitled to the following Executive Benefits:

PROTECTION SERVICES

You shall be eligible for security and protection services as deemed appropriate by Honeywell Security and in accordance with the Independent Study of Executive Security for the Chairman and CEO of Honeywell International Inc., which includes access to Honeywell aircraft.

STOCK OWNERSHIP GUIDELINES FOR HONEYWELL OFFICERS

As the CEO of the Corporation, you will be required to hold Honeywell shares in accordance with the Corporation’s Stock Ownership Guidelines, as amended from time to time. A copy of the Stock Ownership Guidelines will be separately provided to you.

INTELLECTUAL PROPERTY AND NON-COMPETITION AGREEMENTS

As a condition of this employment offer, you are required to execute (i) Honeywell’s “Employee Agreement Relating to Trade Secrets, Proprietary and Confidential Information” (“IP Agreement”), and (ii) the “Honeywell International Inc. Noncompete Agreement for Select Management Employees” (“Noncompete Agreement”), both of which are attached hereto.

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ACCEPTANCE OF OFFER

Please indicate your acceptance of this offer by signing this offer letter, as well as the IP Agreement and Noncompete Agreement, and returning them to Karen Mattimore.

Honeywell has a long and distinguished history. But, more importantly, we are a company with a terrific future and a great place to work. Our performance culture drives growth for us and competitive advantage for our customers. We hire the best people; give them every possible opportunity to learn, grow, and develop; and reward them for their contributions. We offer career paths that span product lines, job types, businesses, and countries.

Vimal, we are excited to be extending this offer to you and look forward to working with you in your expanded role. Your experience and background are an asset to our Company.

If you have any questions or need any further information about our offer, please contact Karen Mattimore.

Congratulations,

/s/ Darius Adamczyk

Darius Adamczyk

Chairman & Chief Executive Officer

Honeywell International Inc.

Read and Accepted:

All businesses experience changing conditions. Accordingly, we reserve the right to change work assignments, reporting relationships and staffing levels to meet business needs, and your employment with Honeywell will be on an “at will” basis. This means that there is no guarantee of employment for any specific period, and either you or Honeywell may terminate your employment at any time.

The descriptions of benefits and perquisites described in this offer letter are for general information purposes only and are not intended to modify any plan document, summary plan description (“SPD”) or prospectus. For a complete description of any benefit or perquisite, you may request a copy of the applicable plan document, SPD or prospectus. The Company reserves the right to modify, amend or terminate any benefit plan or perquisite in its sole and absolute discretion.

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HONEYWELL INTERNATIONAL INC.

Employee Agreement Relating to Trade Secrets,

Proprietary and Confidential Information

In consideration of my employment, continued employment, compensation, eligibility for any future discretionary raises or merit increases, eligibility for any future bonuses, awards or payments under any Honeywell incentive compensation or equity programs or plans and the equipment, materials, facilities and Honeywell Confidential Information supplied to me, I understand and agree that:

I understand that I have the right to use or practice any skill or expertise generally associated with my employment but not special or unique to Honeywell, but that I do not have the right to use, practice or disclose Honeywell’s Confidential Information for my own benefit or for the benefit of any third party.

I understand that I may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (a) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney if such disclosure is made solely for the purpose of reporting or investigating a suspected violation of law or for pursuing an anti-retaliation lawsuit; or (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal and I do not disclose the trade secret except pursuant to a court order.

I acknowledge that I have been hereby provided notice that federal law provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret where: (a) the disclosure is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) the disclosure is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Federal law also provides that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (x) files any document containing the trade secret under seal; and (y) does not disclose the trade secret, except pursuant to court order. I understand that in the event it is determined that disclosure of trade secrets was not done in good faith for the reasons described above, I will be subject to substantial damages, including punitive damages and attorneys’ fees. 

The provisions of this Agreement are consistent with and do not supersede, conflict with, or otherwise alter any employee’s obligations, rights, or liabilities created by existing statute or Executive Order relating to (i) classified information, (ii) communications to Congress, (iii) the reporting to an Inspector General of a violation of any law, rule, or regulation, or mismanagement, a gross waste of funds, an abuse of authority, or a substantial and specific danger to public health or safety, or (iv) any other whistleblower protection. The definitions, requirements, obligations, rights, sanctions, and liabilities created by controlling Executive Orders and statutory provisions relating to these protections are incorporated into this Agreement and are controlling.

I hereby release and allow Honeywell to use, for any lawful purpose, any voice reproduction, photograph, or other digital or video likeness of me made in the course of my employment, including my name, likeness and/or any other indicia of my persona in connection with the foregoing materials.

SCHEDULE A

HAVE YOU MADE ANY INVENTIONS BEFORE THE TERM OF YOUR EMPLOYMENT WITH HONEYWELL, IN WHICH YOU HAVE AN OWNERSHIP INTEREST AND THAT ARE NOT THE SUBJECT MATTER OF ISSUED PATENTS OR PRINTED PUBLICATIONS?

(If there are none, please enter the word “NONE”)

NOTE: Please describe each such Invention without disclosing trade secrets or confidential information.

[Attach additional sheets if more space is needed.]

SCHEDULE B

DO YOU HAVE ANY PRIOR OBLIGATIONS (WRITTEN OR ORAL) THAT WOULD RESTRICT YOUR ABILITY TO PERFORM THE DUTIES OF YOUR EMPLOYMENT WITH HONEYWELL?

(If there are none, please enter the word “NONE”)

NOTE: Please give date of, and parties to, obligations and the nature and substance of the restriction.

[Attach additional sheets if more space is needed.]

HONEYWELL INTERNATIONAL INC.

NONCOMPETE AGREEMENT

FOR SELECT MANAGEMENT EMPLOYEES

In consideration of my role as a select management employee of Honeywell, my employment, continued employment, compensation, eligibility for any future discretionary raises or merit increases, eligibility for any future bonuses, awards or payments under any Honeywell incentive compensation or equity programs or plans, and the equipment, materials, facilities and Confidential Information supplied to me, I agree to the following:

1. Noncompetition. I acknowledge that in the course of my employment with or provision of services to Honeywell, I have and will become familiar with Confidential Information concerning Honeywell, its businesses and employees, including, but not limited to, Honeywell’s business methods, business systems, strategic plans, plans for acquisition or disposition of products, expansion plans, financial status and plans, financial data, customer lists and data, and personnel information. I understand and agree that as part of my continued employment with Honeywell, I will continue to have access to and receive Confidential Information concerning Honeywell. I further acknowledge that Honeywell operates in a very competitive business environment and my services are, and will continue to be, of special, unique and extraordinary value to Honeywell. I further acknowledge that I have been given, and will continue to be given, access to and the ability to develop relationships with, customers of Honeywell at the time and expense of Honeywell, and have and will continue to receive training, experience and expertise from Honeywell that make my services of special, unique and extraordinary value to Honeywell. I further acknowledge and agree that I will not, directly or indirectly, at any time during or after my employment with Honeywell, except in the course of performing my duties for Honeywell, disclose, disseminate, make available or use Honeywell’s Confidential Information.

I agree that, during my employment and for a period of two (2) years following my Termination of Employment with Honeywell for any reason, I will not become employed by, perform services for, or otherwise become associated with (as an employee, officer, director, principal, agent, manager, partner, co-partner or consultant or any other individual or representative role) a Competing Business (as defined below). This restriction shall apply to any Competing Business that conducts business in the same or substantially similar geographic area as a Protected Honeywell Business (as defined below). I acknowledge that (i) Honeywell’s business is conducted around the world; (ii) notwithstanding Honeywell’s state of incorporation or the location of its principal office, Honeywell maintains business activities and valuable business relationships within its industries around the world; and (iii) as part of my responsibilities, I may be conducting business around the world in furtherance of Honeywell’s business and its relationships.

A “Competing Business” shall mean any business, person, entity or group of business entities, regardless of whether organized as a corporation, partnership (general or limited), joint venture, association or other organization, that (i) conducts or is planning to conduct a business similar to and/or in competition with any business conducted or planned by Honeywell, or (ii) designs, develops, produces, offers for sale or sells a product or service that can be used as a substitute for, or is generally intended to satisfy the same customer needs for, any one or more products or services designed, developed, manufactured, produced or offered for sale or sold by a

Honeywell business (the Honeywell businesses described in (i) and (ii) are hereinafter collectively referred to as “Protected Honeywell Business(es)”). Notwithstanding the foregoing, an entity is not a Competing Business with respect to me unless I was employed by, performed services for, or had operational knowledge of, a Protected Honeywell Business in a covered job (i.e., a job subject to a noncompetition agreement) during the Look Back Period. For purposes of the foregoing, I acknowledge that I will be deemed to have knowledge of a Protected Honeywell Business if I received, was in possession of, or otherwise had access to Confidential Information regarding such Protected Honeywell Business.

For purposes of illustration only, I acknowledge and understand that each of the corporations or entities (and any related entities, subsidiaries, affiliates or successors) set forth on the Addendum attached hereto is a Competing Business as of the date hereof. I further acknowledge and agree that the Addendum attached hereto is not an exhaustive list and is not intended to include all of Honeywell’s current or future competitors, which I acknowledge may include other persons or entities in the future. I further acknowledge and understand that if I have any questions about whether any prior Honeywell position that I have held over the last two (2) years may be used to identify Competing Businesses, I should contact my Human Resource representative.

Honeywell recognizes that some businesses, persons, entities, or group of businesses that constitute Competing Businesses may also have lines of business that do not compete with Honeywell, and the restrictions contained herein are not intended to include such lines of business. I understand and agree that if I intend to become employed by, perform services for, or otherwise become associated with (as an employee, officer, director, principal, agent, manager, partner, co-partner or consultant or any other individual or representative role) a Competing Business, it is presumed that the restrictions contained herein apply. I further understand and agree that if I do not believe the restrictions contained herein should apply, I must notify Honeywell, in writing, prior to accepting employment or otherwise becoming associated with the ostensible Competing Business, and demonstrate to Honeywell that I will only be employed by, perform services for, or otherwise become associated with (as an employee, officer, director, principal, agent, manager, partner, co-partner or consultant or any other individual or representative role) a Competing Business’ line of business that does not compete with Honeywell.

2. Reasonableness of Restrictions and Validity. I agree that the terms of this Agreement are reasonable and do not impose a greater restraint than necessary to protect Honeywell’s legitimate protectable business interests, including the protection of its Confidential Information. It is the desire and intent of the parties hereto that the provisions of this Agreement shall be enforced to the fullest extent legally-permissible. Accordingly, if any particular provision(s) of this Agreement shall be adjudicated to be overbroad, invalid or unenforceable, the court may modify or sever such provision(s), such modification or deletion to apply only with respect to the operation of such provision(s) in the particular jurisdiction in which such adjudication is made. In addition, if any one or more of the provisions contained in this Agreement shall for any reason be held to be excessively broad as to duration, geographical scope, activity or subject, it shall be construed by limiting and reducing it so as to be enforceable to the extent compatible with the applicable law as it shall then appear. The remaining provisions of this Agreement shall remain in full force and effect. I also agree that the parties shall request that a court of competent jurisdiction not invalidate or ignore the terms of this Agreement, but instead honor this provision by reforming or modifying any overbroad or otherwise invalid terms to the extent necessary to render the terms valid and enforceable and then enforcing the Agreement as so reformed or modified.

3. Remedies. I acknowledge that a remedy at law for any breach or threatened breach of the provisions of this Agreement would be inadequate and therefore agree that Honeywell shall be entitled to injunctive relief in case of any such breach or threatened breach. I acknowledge and agree Honeywell may apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief (without posting a bond or other security) in order to enforce or prevent any violation of the provisions of this Agreement, and that money damages would not be an adequate remedy for any breach of the provisions of this Agreement. I acknowledge and agree that a violation of this Agreement would cause irreparable harm to Honeywell, and I covenant that I will not assert in any proceeding that a violation or further violation of this Agreement: (i) will not result in irreparable harm to Honeywell; or (ii) could be remedied adequately at law. Honeywell’s right to injunctive relief shall be cumulative and in addition to any other remedies available at law or equity. In the event that a court determines that I have breached this Agreement or enters an order enforcing or upholding any provision of this Agreement, I agree that the post-employment restrictive covenant period shall be tolled during the time period that I was in violation of the covenant so that Honeywell gets the full benefit of the entire restrictive covenant period set forth in Paragraph 1. In the event that a court determines that I have breached or threatened to breach this Agreement, I agree to reimburse Honeywell for all attorneys’ fees and costs incurred in enforcing the terms of this Agreement. However, nothing contained herein shall be construed as prohibiting Honeywell from pursuing any other remedies available for any such breach or threatened breach against me or my new employer, which may also include, but not be limited to, contract damages, lost profits and punitive damages.

4. Harm and Injunctive Relief and Permitted Disclosures. I agree and acknowledge that the restrictions contained in this Agreement do not preclude me from earning a livelihood, nor do they unreasonably impose limitations on my ability to earn a living. I further agree and acknowledge that the potential harm to Honeywell of the non-enforcement of this Agreement outweighs any potential harm to me from its enforcement by injunction or otherwise. I acknowledge that I have carefully read this Agreement and have given careful consideration to the restraints imposed upon me by this Agreement, and am in full accord as to their necessity for the reasonable and proper protection of Honeywell’s legitimate protectable business interests, including the protection of its Confidential Information. I agree and acknowledge that I have been provided adequate and reasonable consideration in exchange for the obligations under this Agreement, including employment or continued employment by Honeywell, goodwill, access or continued access to Honeywell’s Confidential Information, access or continued access to customers, and additional good and valuable consideration. I expressly acknowledge and agree that each and every restraint imposed by this Agreement is reasonable with respect to subject matter, duration and geographical scope.

I acknowledge that I have been hereby provided notice that federal law provides that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret where: (a) the disclosure is made (i) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) the disclosure is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Federal law also provides that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual (x) files any document

containing the trade secret under seal; and (y) does not disclose the trade secret, except pursuant to court order. I understand that in the event it is determined that disclosure of trade secrets was not done in good faith for the reasons described above, I will be subject to substantial damages, including punitive damages and attorneys’ fees.

The provisions of this Agreement are consistent with and do not supersede, conflict with, or otherwise alter any employee’s obligations, rights, or liabilities created by existing statute or Executive Order relating to (i) classified information, (ii) communications to Congress, (iii) the reporting to an Inspector General of a violation of any law, rule, or regulation, or mismanagement, a gross waste of funds, an abuse of authority, or a substantial and specific danger to public health or safety, or (iv) any other whistleblower protection. The definitions, requirements, obligations, rights, sanctions, and liabilities created by controlling Executive Orders and statutory provisions relating to these protections are incorporated into this Agreement and are controlling.

5. Binding Agreement, Amendment, Successors. I acknowledge that the provisions of this Agreement are in addition to, and in no way intended to limit, restrict or narrow any prior or existing employment or other agreement with Honeywell. This Agreement does not replace or supersede any prior or existing employment or other agreement with Honeywell, but rather, shall be read in conjunction with such prior or existing agreements and shall be interpreted in a manner to provide Honeywell the maximum protection provided by all agreements I have with Honeywell. The terms of the restrictions in Paragraph 1 and the other terms in this Agreement are to be read consistent with the terms of any other noncompete or other agreements that I have executed with Honeywell; provided, however, to the extent there is a conflict between/among such agreements, such agreements shall be construed as providing the broadest possible protections to Honeywell, even if such construction would require provisions of more than one such agreement to be given effect. No waiver of this Agreement will be effective unless it is in writing and signed by Honeywell’s chief human resources officer or his/her designee. This Agreement may not be superseded or amended by any other agreement between myself and Honeywell unless such agreement specifically and expressly states that it is intended to supersede this Agreement and is executed by Honeywell’s chief human resources officer or his/her designee. This Agreement binds my heirs, executors, administrators, legal representatives and assigns and inures to the benefit of Honeywell and its successors and assigns.

6. Acknowledgement of Receipt. I acknowledge that I received a copy of this Agreement prior to accepting my transfer, promotion, or hire into my new role and that execution of this Agreement was an express condition of such transfer, promotion, or hire.

7. Effectiveness of Agreement. This Agreement becomes effective when I sign it. The obligations under it continue throughout the entire period of time I am employed by Honeywell, without regard to the business within Honeywell with which I am associated and these obligations will continue after, and survive, the end of my employment with Honeywell.

8. Notice to Future Employers. For the period of two (2) years immediately following the end of my employment with Honeywell, I will inform each new prospective employer, prior to accepting employment, of the existence of this Agreement and provide that prospective employer with a copy of it. Honeywell has the right to inform any future employer of the existence of this Agreement and to provide any future employers with a copy of it.

9. Governing Law and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina without regard to its principles of conflicts of law. I hereby consent to the exclusive jurisdiction and venue in the federal and state courts of the State of North Carolina, Mecklenburg County, for the resolution of all disputes arising under, or relating to, this Agreement.

10. Additional Definitions.

“Confidential Information” means information that is not generally known in the industry in which Honeywell is engaged, which may be disclosed to me or which I may learn, observe, discover or otherwise acquire during, or as a result of, my employment by Honeywell and which includes, without limitation, any information, whether patentable, patented or not, relating to any existing or contemplated products, inventions, services, technology, ideas, concepts, designs, patterns, processes, compounds, formulae, programs, devices, tools, compilations of information, methods, techniques, and including information relating to any research, development, manufacture, purchasing, engineering, know-how, business plans, sales or market methods, methods of doing business, business systems, strategic plans, plans for acquisition or disposition of products, expansion plans, financial status and plans, financial data, personnel information, customer lists or data, customer usages or requirements, or supplier information, which is owned or licensed by Honeywell or held by Honeywell in confidence.

“Honeywell” collectively identifies Honeywell International Inc. (a Delaware corporation having its headquarters in Charlotte, Mecklenburg County, North Carolina), its predecessors, designees and successors and its past, present and future operating companies, divisions, subsidiaries, affiliates and other business units, including businesses acquired by purchase of assets, stock, merger or otherwise.

“Look Back Period” means the two (2) year period ending on the date of my Termination of Employment.

“Termination of Employment” means any separation from employment with Honeywell regardless of the reason, including any and all voluntary and involuntary reasons for termination. The termination date for purposes of this Agreement shall be the last day I actively perform services for Honeywell.

11. Headings. The headings of the paragraphs of this Agreement are inserted for convenience only and shall not in any way affect the meaning or construction of this Agreement.

I have carefully read this Agreement. I understand and accept its terms. I understand and agree that I will continue to be bound by the provisions of this Agreement after my employment with Honeywell has ended.

Exhibit 99.1

Contacts:

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

— Kapur’s Track Record and Operational Expertise Positions Honeywell for the Next Level of Outperformance Versus Peers

— Under Adamczyk’s Leadership, Honeywell Continued to Outperform Market and Peers, Growing Market Capitalization from $88 Billion in 2016 to $145 Billion in 2022, a 9% CAGR

— Thoughtful Succession Plan Positions Honeywell for Seamless Leadership Transition

CHARLOTTE, N.C., March 14, 2023 — Honeywell (NASDAQ: HON) today announced that Vimal Kapur, President and Chief Operating Officer, will succeed Darius Adamczyk as Chief Executive Officer on June 1, 2023. Adamczyk, who became Chief Operating Officer in 2016, Chief Executive Officer in 2017 and Chairman in 2018, will continue to serve as Executive Chairman of Honeywell. Kapur 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.

“Vimal is absolutely the right person to lead our company to the next level of growth and stellar performance,” Adamczyk said. “Vimal brings 34 years of deep knowledge about our businesses, end markets and customer needs. His ability to drive our key sustainability and digitalization strategic initiatives, along with his advancement of our world class operating system – Honeywell Accelerator – throughout the organization, gives him an outstanding platform to drive continued outperformance for our shareowners. Honeywell’s next operational evolution, under Vimal’s leadership, will be the incorporation of Accelerator and standardization of global business models to enable maximal performance in each business segment.”

“Vimal is also uniquely capable to drive Honeywell’s sustainable innovation and solidify our position to lead in the energy transition. 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.”

“In his role as COO, Vimal has driven continued operational execution on our proven value creation framework, all of which is underpinned by Accelerator. We have also made significant strides in advancing our digital solutions – both to enhance our own internal operations and decision-making and in support of our customers to benefit their digitization transformations. The rigor of our digital solutions is a real differentiator for Honeywell and will enable us to achieve consistent and sustained outperformance.”

“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. In his role as President and Chief Operating Officer, Vimal has enabled our businesses to develop new solutions to help our customers drive their sustainability transformations and accelerate their digital capability. Vimal has a depth of operating experience that is unparalleled at Honeywell, having operated across our multiple business models, industries, regions and business cycles during his 34 years at Honeywell, including leading Performance Materials and Technologies (PMT) and Honeywell Building Technologies (HBT), and now in his COO role. He brings a high degree of energy and excitement about what the future holds — from our innovation and breakthrough initiatives to our digitalization rigor and agile decision-making to our portfolio optimization. Our board and I have the utmost confidence that Vimal will be an outstanding CEO, leading our strategic plans and executing with rigor against our profitable growth plans.”

“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. 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, 57, 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. 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. Prior to his role as COO, Vimal 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. 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%.

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. Additionally, he has held several other leadership positions including Managing Director for Honeywell Automation India Limited. Kapur graduated from the Thapar Institute of Engineering in Patiala, India as an electronics engineer with a specialization in instrumentation.

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, the S&P 500 and the XLI. Under Adamczyk’s leadership, from 2016 through 2022, Honeywell’s market capitalization grew from $88 billion to $145 billion, a 9% CAGR. Over that period, Honeywell’s cumulative total shareholder return was 128% versus 109% for the S&P 500 and 100% for the XLI. The company’s annualized dividend rate grew from $2.27 to $4.12, an increase of 82%, while its share price rose 99% over the same time frame.

“Darius has been a truly transformational leader throughout his tenure at Honeywell. He created our industrial software business, as well as architected and executed our differentiated value creation framework, including transformational strategies in digitalization, integrated supply chain, breakthrough innovation, enhanced SaaS offerings and ESG,” said Scott Davis, Honeywell’s Lead Director. “Under Darius’ leadership, the strong portfolio, processes and culture that Darius and his team have put in place have taken Honeywell’s performance standards to a new level. Our performance has consistently outperformed the markets, and we are well-positioned for growth acceleration with strong macro tailwinds in our core end markets and accretive gains from incremental breakthrough initiatives. Our heritage of innovation in sustainability solutions is a strength that sets Honeywell apart.”

“We have been extremely pleased with the thoughtful leadership transition planning and execution undertaken by our board in the past. We deployed a similar playbook to ensure rigorous planning and development for this important transition,” said Davis. “Our selection of Vimal to succeed Darius is a tribute to Darius’ success as Chairman and CEO. We wanted to appoint a successor capable of building on the strong foundation Darius has built, while taking Honeywell to the next level of out-performance over the long run. In Vimal, we have a proven leader who can enhance Honeywell’s growth rate and operational excellence and drive Honeywell to be the leader in industrial software and sustainability solutions. Darius and Vimal work exceedingly well together, and we are confident the transition will be seamless. As Executive Chairman, Darius will continue to play a vital role in direct engagement with customers, business development opportunities and leadership development. Vimal has exhibited the key leadership qualities and operational expertise that will allow him to thrive as Honeywell’s next CEO, and Darius and the Board will do everything possible to support Vimal’s success.”

In his role as Executive Chairman, Adamczyk will be focused primarily on supporting customer relationships, business development, enterprise strategic planning, shaping the portfolio and global government relations.

Honeywell also announced today that Doug Wright, President and CEO of HBT, will leave the company to pursue another opportunity. Honeywell is pleased to announce the appointment of Billal Hammoud as President and CEO of HBT effective April 1, 2023. Hammoud is currently President of Honeywell’s Smart Energy and Thermal Solutions business. Prior to rejoining Honeywell in 2021, Hammoud was President of ESAB Americas and Global Fabrication Solutions. Prior to ESAB, Hammoud was Vice President and General Manager of Honeywell Thermal Solutions. He earned his Bachelor of Science degree in Mechanical Engineering and MBA from Wayne State University.

Honeywell (www.honeywell.com) delivers industry-specific solutions that include aerospace products and services; control technologies for buildings and industry; and performance materials globally. Our technologies help aircraft, buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that address activities, events or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. They are based on management’s assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. Our forward-looking statements are also subject to risks and uncertainties, including the impact of the Russia-Ukraine conflict, that can affect our performance in both the near- and long-term. In addition, no assurance can be given that any plan, initiative, projection, goal commitment, expectation, or prospect set forth in this release can or will be achieved. Any forward-looking plans described herein are not final and may be modified or abandoned at any time. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

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