FORMER HONEYWELL CEO RETURNS; STREAMLINES REPORTING PROCESS
MORRIS TOWNSHIP, N.J.
Honeywell Int’l Inc.‘s new CEO, Lawrence Bossidy, has streamlined internal reporting procedures to match the way the company’s business segments are aligned.
Bossidy, the former company CEO, was brought back last week from retirement after the company’s $43 billion merger with General Electric Co. collapsed. He told employees that instead of reviewing multiple reports from the different segments, he will now get only one from each, spokesman Tom Crane said Friday. “We’re going to shake this place up a little bit,” Bossidy told The Star-Ledger of Newark, N.J., for Friday’s editions. “I’m not here to dismantle this company or to sell the company. We’ve got some issues we have to address, and we’re going to take those on.”
Analysts have said that Honeywell suffered from being in limbo while it awaited approval of the GE merger, and now must get back on track and restore employee morale.
In other company news, Crane said Honeywell Executive Vice President and COO Giannantonio Ferrari, 61, was retiring after 40 years with Honeywell.
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