Honeywell has announced that Jaime Chico Pardo, will retire from the board effective at the time of the next Annual Share-owners Meeting on April 27, 2020. He will be succeeded as independent Lead Director by D. Scott Davis. David has chaired the Management Development and Compensation Committee (MDCC) since 2010. Davis also chaired the Honeywell Audit Committee from 2006-2010.
Honeywell Chairman and Chief Executive Officer Darius Adamczyk said, “Jaime has been instrumental in the transformation of Honeywell over the past two decades into one of the world’s largest, most admired and successful industrial companies, and his leadership and strategic contributions have laid the groundwork for our active transformation into a software-industrial company. While serving with tireless commitment with four CEOs, Jaime helped Honeywell globalize and bring its offerings to many new markets. He was relentless in opening doors to pursue new customer relationships, many of which have been very fruitful and sustaining. On a personal note, Jaime was instrumental in my transition into my current role through his deep understanding of the company and through his outstanding communication and leadership skills, which have helped align broad sets of stakeholders in support of our key business strategies. I am grateful for everything Jaime has done to make Honeywell the highly successful company that it is today.”
Chico Pardo was elected as a Board member to the former Honeywell, Inc. in September 1998, and was elected on December 1, 1999, to the new Board for Honeywell International Inc. at the time of the AlliedSignal-Honeywell merger. He served on the Retirement Plans Committee from 1999 until it was dissolved in 2019. He was elected to the Corporate Governance and Responsibility Committee in 1999 and remains a member through his retirement date.
In addition, Chico Pardo became Honeywell’s independent Lead Director on January 1, 2016, and was re-elected on December 8, 2017. Honeywell’s independent Lead Director plays an important role in the company’s governance structure, serving as de facto leader of the independent Directors and as the single focal point charged with ensuring that the Board as a whole is providing appropriate independent oversight of management. Over the past several years, the Board has continually taken action to strengthen the role of independent Lead Director.
Davis held a series of senior leadership positions over three decades at United Parcel Service, Inc., a leading global provider of package delivery, specialized transportation and logistics services. He served as Chairman and Chief Executive Officer from January 1, 2008, to September 2014, and after that served nearly two additional years as Non-Executive Chairman of UPS. Prior to joining UPS, Davis was Chief Executive Officer of II Morrow Inc., a technology company and developer of general aviation and marine navigation instruments.