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In The News:

Honeywell Names Chairman for Transportation Spin-off

Honeywell (NYSE: HON), Morris Plains, NJ, has named Carlos Cardoso chairman of the board for its Transportation Systems business as it prepares to spin-off into a standalone, publicly traded company, Garrett Motion Inc.

Cardoso has extensive experience in manufacturing and distribution, and is principal of CMPC Advisors, which focuses on helping private equity companies make investments in industrial, manufacturing and distribution sectors. He is on the board of directors for Stanley Black & Decker and Hubbell Corporation, and from 2006 to 2014 served as chairman and CEO of tooling and industrial materials supplier Kennametal.

Cardoso will begin his role upon the successful completion of the spin, which is expected by the end of the third quarter.

In May, Honeywell announced that Olivier Rabiller will continue to lead Transportation Systems as president and CEO after the spin-off and becomes Garrett.

 

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