Honeywell Announces Board for Spin-Off Solstice Advanced Materials

Honeywell has announced the board of directors for its spin-off Solstice Advanced Materials, a specialty materials company set to be spun off in Q4 2025. The 10-member board, chaired by Dr. Rajeev Gautam, includes experienced individuals from the industrial, technology, and chemical sectors. The board will provide strategic and industry expertise to position Solstice as a leader in its market positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging.

Honeywell International Inc. has announced the ten-member board of directors for its planned spin-off, Solstice Advanced Materials, set to be completed in the fourth quarter of 2025. The board, which will assume its role upon the completion of the spin-off, is composed of experienced individuals from various sectors, including industrial, technology, and chemical industries. The board will provide strategic and industry expertise to position Solstice as a leader in its market positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging solutions.

The board includes David Sewell, who previously served as the Chief Executive of WestRock and led operations at Sherwin Williams, as well as Peter Gibbons, who was the group president of enterprise supply chain at 3M. Fiona Laird, the chief human resources officer and senior vice president of communications at Marathon Petroleum, is also a member. Rose Lee, who recently retired as CEO of Cornerstone Building Brands, will continue to serve on Honeywell's board until the spin-off is completed. Additionally, the board includes William Oplinger, CEO of Alcoa; Sivasankaran "Soma" Somasundaram, previously CEO of ChampionX; Matthew Trerotola, who recently retired as CEO of Enovis; Patrick Ward, previously CFO of Cummins; and Brian Worrell, who was CFO of Baker Hughes.

Dr. Rajeev Gautam, former chief executive of Honeywell's performance materials and technologies business, will lead the board as independent chair. Gautam's extensive experience in the industry will be instrumental in guiding Solstice's strategic direction and ensuring its success as a standalone entity.

Solstice Advanced Materials will be a pure-play specialty materials company, focusing on market-leading positions in refrigerants, semiconductor materials, protective fibers, and healthcare packaging solutions. The spin-off is part of Honeywell's broader strategy to streamline its portfolio and focus on its core competencies.

References:
[1] https://www.marketwatch.com/story/honeywell-names-board-of-directors-for-solstice-advanced-materials-spinoff-cafe636c