Honeywell’s Cote named 'CEO of the year'
GREENWICH, Conn.—Chief Executive magazine recently named David Cote, chairman and CEO of Honeywell, the “2013 CEO of the Year,” according to the magazine’s website. Cote was nominated and selected by a group of his peers.
Since Cote became CEO in 2002, Honeywell stock has risen more than 223.5 percent, compared to rises of 52.8 percent and 57.1 percent, respectively, for the S&P 500 and Dow Jones Industrial Average.
Under Cote’s leadership, Honeywell shed non-core assets and focused efforts on “global macro-trends with strong future prospects,” the article noted, “including safety, security, energy efficiency, energy generation, globalization, and customer productivity.”
Cote also was appointed by President Obama to both the bipartisan National Commission on Fiscal Responsibility and Reform (often referred to as the Simpson-Bowles Commission), and the U.S.-India CEO Forum, the article noted.
Nominations for CEO of Year came from the 124,000 readers of Chief Executive magazine, according to the article. The group is winnowed down to the top 10 most frequently cited nominations before the eight-person selection committee votes for a winner.