Honeywell Names Leadership Team and New Company Name for Advanced Materials Spin-Off

On March 25, 2025, Honeywell announced that its Advanced Materials business will be named Solstice Advanced Materials upon completion of a planned tax-free spin-off to shareholders, expected by late 2025 or early 2026. The new publicly traded company will be headquartered in Morris Plains, New Jersey, and focus on sustainability-driven specialty chemicals and materials.

Solstice Advanced Materials generated nearly $4 billion in revenue last year and will include well-known technologies such as Solstice® hydrofluoroolefins. Honeywell named Dr. Rajeev Gautam as non-executive chairman, David Sewell as president and CEO, and Tina Pierce as CFO. Additional leadership roles were filled by Jeff Dormo and Simon Mawson, who will oversee the company's two business segments.

The announcement is part of Honeywell's broader portfolio optimization strategy, which includes the planned separation of its Aerospace Technologies segment and a series of acquisitions and divestitures aimed at enhancing growth and streamlining operations.