Honeywell's $15 Billion Prune: A Smaller Focus on Industrial Tech

Honeywell's CEO Vimal Kapur has completed the spinoff of two major business units, aerospace and specialty chemicals. This move leaves Honeywell as a smaller company, less than half its original size.

The company relocated its headquarters from New York City to Charlotte in 2019, with state and local governments offering around $88 million to attract Honeywell. The city has exceeded its job and wage pledges, but Adamczyk's six-year tenure as CEO ended in June 2023, replaced by Kapur.

Kapur aims to focus on the company's industrial technology sector, which generated $37 billion in revenue last year. He emphasizes the importance of automation and innovation, driven by the need for skilled workers, with an estimated replacement rate of one new worker for every six or seven retirees.