Honeywell (Nasdaq: HON) has announced key leadership appointments for its Advanced Materials business, which will operate under the new name Solstice Advanced Materials following its planned spin-off, expected to be completed by late 2025 or early 2026. The independent company will be based in Morris Plains, New Jersey, and will focus on sustainability-driven, specialty chemicals and materials.
With nearly $4 billion in revenue last year, Solstice Advanced Materials will feature leading technologies and brands, including the Solstice® hydrofluoroolefin technology. The spin-off will enable the company to operate as a publicly traded entity, dedicated to innovation and growth in the specialty chemicals sector.
Ahead of its spin-off, Honeywell has announced the leadership team for the new company, Solstice Advanced Materials. Dr Rajeev Gautam will serve as the non-executive Chairman of the Board of Directors for Solstice upon the completion of the spin. With over 40 years of experience in Honeywell’s process technologies and advanced materials sectors, Dr Gautam previously held the role of President and CEO of Honeywell Performance Materials and Technologies (PMT).
David Sewell will take on the role of President and CEO of the Advanced Materials business immediately and is expected to continue in this capacity following the spin-off. Sewell brings more than 30 years of experience in the materials and chemicals industries, including his recent tenure as CEO of WestRock Company and leadership roles at The Sherwin Williams Company and General Electric.
Tina Pierce will assume the role of Chief Financial Officer (CFO) of the Advanced Materials business, effective May 1, 2025. Pierce has accumulated over 25 years of experience at Honeywell, where she has served as CFO for multiple business segments, including Performance Materials and Technologies. She will continue in this role after the spin-off.
Additionally, Jeff Dormo and Simon Mawson will be promoted to Senior Vice Presidents and General Managers for Solstice Advanced Materials’ two business segments. Both Dormo and Mawson have extensive experience in the chemicals and specialty materials industry, positioning them to lead the company’s growth in its new structure.
Vimal Kapur, Chairman and CEO of Honeywell, expressed confidence in the leadership team, stating, “With Rajeev’s deep knowledge of Honeywell’s Process Technologies and David’s leadership in transformation, they are the ideal individuals to lead Solstice Advanced Materials into its next phase of growth.”
Solstice Advanced Materials will have operations across global locations, including Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest, and Mexico City, with a robust manufacturing and R&D presence. This spin-off is part of Honeywell’s broader portfolio optimization strategy, which includes other major business changes, including the separation of its Aerospace Technologies business planned for 2026.
