Honeywell has announced key leadership roles for its Advanced Materials business, which will be named Solstice Advanced Materials after its tax-free spin to shareholders targeted 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 pure play. With nearly $4 billion in revenue last year, Solstice Advanced Materials will offer leading technologies with premier brands, including the Solstice® hydrofluoroolefin technology.
Ahead of the planned spin-off, Honeywell has announced several members of the new company’s leadership team:
Dr. Rajeev Gautam has been selected to serve as non-executive Chairman of the Board of Directors, effective on completion of the spin. 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 Chief Executive Officer of Honeywell Performance Materials and Technologies (PMT) and also previously served as President of Honeywell UOP. He currently serves on the board of directors of NN, Inc.
David Sewell will join as President and Chief Executive Officer of the Advanced Materials business, effective immediately. He is expected to retain this title with the new company upon completion of the spin. Sewell brings more than 30 years of experience in the materials and chemicals industries, having most recently served as the President and Chief Executive Officer of WestRock Company. Prior to this, he was the President and Chief Operating Officer of The Sherwin Williams Company and spent more than 15 years in General Electric’s Plastics and Advanced Materials Division. He currently serves on the boards of directors of the National Association of Manufacturers and Huntsman Corporation.
Tina Pierce has been named Chief Financial Officer of the Advanced Materials business, effective May 1, 2025. She is expected to retain this title with the new company upon completion of the spin. Pierce is currently the Vice President and Chief Financial Officer of Honeywell Industrial Automation and has over 25 years of experience at Honeywell as a global Chief Financial Officer of several major business segments, including Performance Materials and Technologies and Home and Building Technologies. Pierce previously served on the board of directors of Garrett Motion, Inc.
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 and bring a significant range of experience in the chemicals and specialty materials industry, with a focus on business growth and strengthening customer relationships.
“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. Rajeev’s 43-year career as a leader in Honeywell’s Process Technologies and Advanced Materials businesses combined with David’s experience overseeing a multi-year transformation strategy as CEO of a publicly traded company make them the ideal leaders.”“With a trusted legacy built from its breakthrough low global warming Solstice® technology and its next-generation chemistry advances, Solstice Advanced Materials is already well-positioned to be a leader in the specialty chemicals and materials market.”
Vimal Kapur, Chairman and CEO of Honeywell
In addition to its headquarters in Morris Plains, New Jersey, Solstice Advanced Materials will have teams located in Charlotte, Houston, Dublin, Shanghai, Tokyo, Bangalore, Bucharest and Mexico City. The independent company will maintain its global manufacturing footprint along with additional R&D sites. With a large-scale domestic manufacturing base, Solstice Advanced Materials will be positioned to benefit from a compelling investment profile and a more flexible and optimized capital allocation strategy.