The current issue of Fortune Magazine features Honeywell Chairman and CEO Dave Cote, highlighting the remarkable transformation in financial performance, culture and operations the company has experienced during his decade as leader.   

From his childhood through college and into his career, the article describes Cote as an independent thinker who values hard work and focus.  Under Cote, Honeywell’s stock price is up 84% with a total shareowner return of 215%, outperforming almost all names in its industrial peer group and the S&P 500.  He is credited with aligning the Honeywell, Allied Signal and Pittway cultures and introducing disciplines across the business, such as the Honeywell Operating System (HOS), to unite the company and mobilize the work force under common goals.  The article also highlights Cote’s push to transform Honeywell’s process for mergers and acquisitions, acquiring 70 businesses and divesting 40 over a decade, to shift the company’s portfolio to game-changing technologies that drive high margins and rapid growth. 

The article appears in the magazine’s Fortune 500 issue, which is on newsstands now.  The issue also shows Honeywell at number 77 on the Fortune 500 list, up four spots from 2011.

Read the article.

The Business Roundtable (BRT) has released its 2012 Sustainability Report – titled Create, Grow, Sustain – which highlights the efforts of America's CEOs to create a more sustainable future. In the report, Dave Cote, Honeywell Chairman and CEO and Energy Environment Committee Chair of the BRT, explains how Honeywell’s solutions and technologies expand sustainable capacity and improve the efficiency of products and processes to foster “Sustainable Opportunity”.

In an effort to help reduce energy consumption and environmental impact around the world, Honeywell is working with the Clinton Climate Initiative (CCI) as one of four energy services companies involved at the outset of CCI’s Energy Efficiency Building Retrofit Program. The company has already implemented projects to upgrade facilities and cut carbon emissions in London, Melbourne, Seoul, Hong Kong, and Puerto Rico.

The company’s dedication to protecting the environment with a comprehensive and contemporary commitment is one of the central tenets of how Honeywell does business. In 2007, Honeywell established five-year greenhouse gas and energy efficiency objectives for our internal operations. Honeywell met these goals, reducing our greenhouse gas emissions by more than 30 percent, and increasing our energy efficiency by more than 20 percent, both measured from a 2004 baseline year. Annual goals will continue to reduce greenhouse gas emissions and increase energy efficiency.

Watch Cote’s latest message reaffirming Honeywell's commitment to protecting the environment.

Read the Business Round Table’s 2012 Sustainability Report  or visit their website.

Honeywell Chairman and CEO Dave Cote was interviewed on CNBC’s Mad Money with host Jim Cramer to discuss the company’s strong first quarter 2012 financial results, highlighting a 7% increase in sales and an 18% increase in earnings per share versus the same quarter last year. 

Also, as part of CNBC’s and Mad Money’s Earth Week theme, Cote showcased some of Honeywell’s energy efficient solutions, including: a Honeywell turbocharger that can get 40 miles to a gallon of gas; Honeywell Green Jet Fuel made from inedible feedstocks that is powering military and commercial biofuel flights; Honeywell Total Connect system, which provides simple, integrated access to all of a user’s systems at home, helping to manage and reduce energy use; Honeywell’s Prestige thermostat, which helps homeowners save 33% on their home energy bill; and Honeywell’s 3D Weather Radar technology, which provides pilots improved safety and reduces flight delays to save fuel. 

“It’s got to be a good product, and got to accomplish a good end,” Cote said, referring to Honeywell’s approach to energy efficient technology.  “It’s got to be easy to use, and it has to make sense because if it doesn’t make economic sense, it’s not going to last.”

Watch the video

Honeywell and the Honeywell Operating System (HOS) are being featured in The Economist’s most recent edition going on newsstands soon.  The article highlights the improvements that Honeywell has made in financial and operational performance over the last decade using key process initiatives like HOS. 

The article showcases Honeywell Analytics in Lincolnshire, IL, a HOS bronze-level site producing gas detection devices, to describe how HOS has driven continuous improvements in safety, product quality and revenue to help transform Honeywell into one of America’s most successful companies. 

The article also credits Honeywell Chairman and CEO Dave Cote for driving HOS, as well as a “One Honeywell” culture and the Honeywell 12 Behaviors throughout the organization.  These initiatives have been instrumental in helping the company achieve an exceptional performance track record over the past 10 years, which in includes sales growth of 72% and profits doubling to more than $4 billion. 

Read the article.

Honeywell Chairman and CEO Dave Cote today appeared on Bloomberg Television's "InBusiness With Margaret Brennan” following the Ex-Im Bank Annual Conference where he introduced keynote speaker former President Bill Clinton. Cote spoke with Peter Cook, Bloomberg Television’s chief Washington correspondent, about topics including the importance of the U.S. Export-Import Bank, Honeywell's business and U.S. fiscal policy.

When asked about his take on the debate about the future of the Ex-Im Bank, Cote had a very clear vision. “The government needs to be in this business because it’s a competitive issue. I like the way President Clinton teed it up where he said this is not just an issue about the Ex-Im Bank, there’s an American competitiveness issue that we have to discuss here and this is a piece of it. You can’t unilaterally disarm while other countries are supporting exports and using this kind of approach.”

Cote provided a global update on Honeywell’s business saying, “The story hasn’t really changed that much in the last 3-4 months as far as we’re concerned. If we take a look at long-cycle orders – things like oil, gas and aerospace – that’s actually done pretty well and continues to do so. If you look at short-cycle stuff – things where you get the order and a week or day later you ship it – that’s been fine in the U.S. It’s slowed some but was still fine in China and India. The place we really saw it slow was Europe.”

He also discussed his view on the budget debate in Washington stating, “Nothing is happening and it’s a fundamental part of what we need to address for an American competitiveness agenda again. My biggest concern is that this does not get discussed in the general election. If this isn’t discussed between the two candidates, and the American public doesn’t vote on where they’re interested in going, then I’m fearful that the can just continues to get kicked down the road. They need to have this conversation in the debates.”

Watch the interview here.

Honeywell Chairman and CEO Dave Cote appeared on Fox Business Network’s “After the Bell” where he discussed energy efficiency, GDP growth, and the corporate tax rate.

On the topic of alternative fuel, Cote was adamant about his belief in low-cost power and energy efficiency and explained how Honeywell could significantly reduce the cost of energy in our country.

“I’m a big believer that first, low-cost power is essential for GDP growth, so you have to have that, and without GDP growth we’re not going to get job growth, so that where it starts. If you begin there it takes you down two paths – you need more energy generation from the classic energy – oil and gas – but it also means that you need to be focused on energy efficiency. We’ve said before just using the Honeywell portfolio of products and technologies aggressively would save the U.S. 20-25% of its energy bill.”

During the segment, Cote – a member of President Obama’s Simpson-Bowles commission – discussed they key to decreasing unemployment.

“The thing that’s going to cause unemployment to go down is if GDP starts growing at a rate greater than 2%. If we stay at 2% GDP growth for the next four to five years, which is entirely possible… At 2% you’ll end up with about 8% unemployment for as long as you stick at 2%. The big thing is we need to get GDP growing again.”

Watch the interview here.

Following the company’s investor conference on March 7, 2012, Dave Cote, Honeywell chairman & CEO, met with CNBC's Maria Bartiromo for an exclusive interview to discuss the company's solid double-digit gains and how strong demand for aircraft components will help its full year earnings.

During the interview, Cote discussed the importance of the international markets and what is has meant to the bottom line of Honeywell.

“It's been huge for us. If you go back ten years ago, about 41% of our sales were outside the U.S. and today, about 55% of our sales and about 50% of our employees are outside the U.S., so it's been a huge part of our growth story.”

Cote also revealed some of the drivers that have led Honeywell to a decade of transformation and continue to keep them on track to meet the 2014 margins.

“Everything that we've been doing – having a Great Position in Good Industries, the One Honeywell focus where we brought the three cultures together, and everything we've done on our Five Initiatives – Growth, Productivity, Cash, People, Our Enablers. We're growing with a lot of new products. We had an empty product pipeline ten years ago. Now we've got hundreds of new products coming out all the time.”

Honeywell has progressed towards achieving its 2014 Sales ($41-45 billion) and Segment Margin (16-18%) targets communicated in February 2010. Over the past 10 years, the company has increased sales by 70%, EPS by 101%, and free cash flow by 100%.

Visit CNBC’s website to watch the full interview.

At its annual investor conference in New York City on March 7, 2012, Honeywell highlighted its strong ten-year financial and operational performance track record under the leadership of Dave Cote, Chairman and CEO, and its progress towards achieving its 2014 Sales ($41-45 billion) and Segment Margin (16-18%) targets communicated in February 2010.

Over the past 10 years the company has strengthened its portfolio and expanded its global footprint. During that time, Honeywell generated significant growth in sales, earnings, and shareowner returns that have outpaced the overall market. 

For more information, read the press release.

The company reported full-year 2011 results including:
• 2011 sales of $36.5 billion, up approximately 13% over 2010
   – 8% organic sales growth, again reflecting strong end markets, successful new product launches, and continued expansion in high growth regions
• 2011 proforma earnings (excluding the impact of pension mark-to-market adjustments)  of $4.05 per share, up 35% over $3.00 in 2010; Reported EPS of $2.61 in 2011 versus $2.59 in the prior year
   – Pension mark-to-market adjustment of $1.44 per share calculated using 791.6 million weighted average shares outstanding assuming dilution
• 2011 cash flow from operations of $2.8 billion, includes $1.7 billion cash pension contribution in the year
   – 2011 free cash flow of approximately $3.7 billion, prior to $1.7 billion cash pension contribution

“Honeywell had a terrific 2011,” said Honeywell Chairman and CEO Dave Cote. “We executed across the portfolio with record organic sales growth and segment margins. Our 2011 performance reflects the operational and financial disciplines that underpin the transformation that has taken place at the company over the last 10 years. We deployed the Honeywell 5 Initiatives – Growth, Productivity, Cash, People, and our Enablers, and created a common One Honeywell culture committed to continuous improvement. As a result, we built a better set of businesses with Great Positions in Good Industries, a terrific performance track record, a great leadership team with a truly global focus, a very full pipeline of new products and technologies, and our key process initiatives that are gaining momentum. We’ve come a long way, and we feel even better about our future.”

“While we expect a more challenging macro environment ahead in 2012, primarily driven by softness in Europe impacting the short-cycle businesses, we’re confident that Honeywell is well positioned to continue to outperform,” continued Cote.  “Our long-cycle businesses are accelerating, with Commercial Aerospace OE, UOP, Building Solutions & Distribution, and Process Solutions all having substantial backlog, in total just under $16 billion. While we expect growth to moderate in the first half of 2012, we’re confident that we can drive strong sales conversion leading to higher segment margins over the course of the year.  The investments we’ve made, coupled with our execution track record and disciplined playbook, will be key to our continued outperformance in 2012 and beyond.”

For more information, read the press release or listen to a replay of the Investor Conference Call.

Pictured left to right: Shane Tedjarati, President, High Growth Regions, and  Stephen Shang, President, Honeywell China

Honeywell announced that Shane Tedjarati was named to the broader role of President, High Growth Regions, and Stephen Shang will take over as President, Honeywell China, effective immediately. Tedjarati will continue to report directly to Honeywell Chairman and CEO Dave Cote. Shang will report to Tedjarati.

“Globalization has been a key pillar of our Growth Initiative for the past decade,” said Dave Cote, Honeywell Chairman and CEO.  “Ten years ago, less than 40% of our sales were generated outside the U.S.  Today, our company is twice the size, and approximately 55% of our revenues are generated outside the U.S.  We began executing this strategy by focusing on the two most important emerging markets – China and India.  That strategy has proven to be a good one.  We have grown nearly ten-fold in revenues and now have nearly 25,000 employees in China and India, representing a significant share of our global growth story.” 

For biographical and additional information, read the press release.