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.”
