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Honeywell Names Greg Lewis As CFO, Succeeding Tom Szlosek - Quick Facts

Honeywell (HON) said that it has appointed Greg Lewis as Vice President, Corporate Finance, effective immediately, in a transition role that will lead him to become Senior Vice President and Chief Financial Officer on August 3.

Lewis, aged 50, will succeed Tom Szlosek, who has decided to retire for personal reasons.

Szlosek will work closely with Lewis to ensure a seamless transition and provide consulting services to the company for five months after his retirement. On becoming CFO, Lewis will also become an officer of the company.

In his new role over the next three months, Lewis will oversee Treasury, Tax, Audit, Business Analysis and Planning, Investor Relations, M&A, Real Estate, Pension, Finance Operations, and Enterprise Information Management or EIM.

Honeywell noted that Szlosek will continue as CFO with direct responsibility for the Global Finance function of the Company and the strategic business groups, Controllership and Portfolio Transformation.

Since October 2016, Lewis has served as Vice President, EIM, and overseen the elimination of 32 enterprise resource planning systems and put the company on a path to drive more than $50 million in savings over the next several years.

Prior to that, Lewis served as Vice President and CFO for the former $16 billion Automation and Control Solutions or ACS business group. Before that, Lewis served as CFO of Honeywell Process Solutions, and also as Honeywell's Vice President, Business Analysis and Planning.

Lewis joined Honeywell in 2006 as CFO of the former Performance Products business unit, a specialty chemicals and materials enterprise with a rapidly growing global footprint.

Szlosek joined Honeywell in 2004 and has held a series of progressively larger finance roles, including CFO for Honeywell ACS, where he helped transact 15 acquisitions valued at $3 billion. He was named to his current position in 2014.

Honeywell reaffirmed its second-quarter earnings guidance of 3 to 4 percent organic growth, 30 to 50 bps of segment margin expansion and 9 to 13 percent earnings per share growth, reflecting a range of $1.97-$2.03 per share.

The company also reaffirmed its full-year guidance of 3 to 5 percent organic growth; 30 to 60 bps of segment margin expansion; 10 to 13 percent earnings per share growth, reflecting a range of $7.85 to $8.05; and free cash flow of $5.3 billion to $5.9 billion.

In addition, Honeywell said that the Transportation Systems business is expected to spin by the end of the third quarter, and the Homes business is expected to spin by the end of the year.

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