CHARLOTTE, N.C. — Honeywell has announced key leadership roles for its Advanced Materials business, which will be named Solstice Advanced Materials after its tax-free spinoff to shareholders, which is expected to be completed by late 2025 or early 2026.
The independent company will be headquartered in Morris Plains, New Jersey.
Solstice Advanced Materials will be a publicly traded, sustainability-focused, specialty chemicals and materials company, according to a Honeywell post on the PR Newswire. Solstice will offer leading technologies with premier brands, including the Solstice hydrofluoroolefin, which is used as a refrigerant, the post said.
Ahead of the planned spinoff, Honeywell has announced several members of the new company’s leadership team:
• Rajeev Gautam will serve as non-executive chairman of the board of directors. Gautam brings more than four decades of experience at Honeywell in the process technologies and advanced materials sectors. Prior to his retirement in 2021, he served as president and CEO of Honeywell Performance Materials and Technologies (PMT) and also previously served as president of Honeywell Universal Oil Products.
• David Sewell will be the president and CEO of the Advanced Materials business, effective immediately. He is expected to retain the role with the new company. Sewell brings more than 30 years of experience in the materials and chemicals industries, having most recently served as president and CEO of WestRock Co.
• Tina Pierce has been named CFO of the Advanced Materials business, effective May 1. She is expected to retain the title with the new company. Pierce is currently vice president and CFO of Honeywell Industrial Automation and has over 25 years of experience at Honeywell as a global CFO of several major business segments.
• Jeff Dormo and Simon Mawson will be promoted to lead Solstice Advanced Materials’ two business segments, each taking on the role of senior vice president and general manager. Both currently lead business units of Honeywell Advanced Materials.
“We are pleased to have this accomplished team lead Solstice Advanced Materials, and I have incredible confidence in their ability to innovate and grow the business moving forward,” said Vimal Kapur, chairman and CEO of Honeywell.
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