Five Directors Depart Honeywell Board; Four to Join Spun-Off Aerospace Entity
HON sits 21% above its 52-week low of $186.76.
Summary
Five directors are departing Honeywell's board. Four of these directors (Craig Arnold, William Ayer, D. Scott Davis, and Deborah Flint) are resigning immediately prior to the Aerospace spin-off and are expected to join the board of the new Aerospace entity. This is a planned transition as part of the ongoing spin-off, which has been a major focus for the company, with the record date set for June 15th. Additionally, Jillian Evanko has resigned immediately due to other professional commitments, with the company stating it was not due to any disagreement. These changes reflect the final stages of the corporate restructuring.
At the time of this announcement, HON was trading at $225.53 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $139.6B. The 52-week trading range was $186.76 to $248.18. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Wiseek News.