Honeywell, which has facilities in Morris Plains, announced the future board of directors for Solstice Advanced Materials, a specialty materials company that will be created following its planned spinoff from Honeywell.
Honeywell said Solstice will hold leading market positions in refrigerants, semiconductor materials, protective fibers, and health care packaging solutions when the spinoff is scheduled to be completed in the fourth quarter of this year. The company will be based in Morris Plains.
The Solstice board is composed of senior leaders with innovation, technology, and industrial sector experience.
Dr. Rajeev Gautam, former president and CEO of Honeywell’s performance materials and technologies business, will lead the 10-person board as independent chair.
“This is an exceptional and strategically diversified group of directors, who will bring cross-sector insight and proven leadership across the industries and technologies that will shape Solstice’s future,” said Vimal Kapur, chairman and CEO of Honeywell.
Here are the other board members.
- David Sewell is the president and CEO of the Solstice Advanced Materials business. He brings more than 30 years of experience in the materials and chemicals industries, having served most recently as the president and CEO of WestRock Co.
- Peter Gibbons recently served as group president of enterprise supply chain at 3M, where he oversaw manufacturing, supply chain, and engineering.
- Fiona Laird is chief human resources officer and senior vice president, communications at Marathon Petroleum Corp., a downstream and midstream energy company.
- Rose Lee recently retired as president and CEO of Cornerstone Building Brands, a manufacturer of exterior building products.
- William Oplinger is president and CEO of Alcoa Corp., a global producer of bauxite, alumina, and aluminum. Over the course of his tenure with the company, he has served in a number of senior leadership roles.
- Sivasankaran “Soma” Somasundaram served as president and CEO of ChampionX Corp., a role he has held since leading its spinoff from Dover Corp. in 2018.
- Matthew Trerotola recently retired as CEO and chair of Enovis Corp. (formerly Colfax), a medical technology company.
- Patrick Ward served as chief financial officer of Cummins Inc. from 2008 to 2019. Over a more than 30-year tenure, he held several senior financial roles at Cummins’ engine and power generation businesses.
- Brian Worrell served as chief financial officer of Baker Hughes from 2017 to 2022, then served as adviser to the chairman and CEO from 2022 to 2023.
Honeywell also announced the filing of a registration statement with the Securities and Exchange Commission, a step toward spinning off Solstice Advanced Materials as a pure-play specialty materials company focused on refrigerants, semiconductor materials, protective fibers, and health-care packaging solutions. The spinoff is scheduled to occur in the fourth quarter of this year.
In March, Honeywell announced the leadership team for the planned spinoff. Dr. Rajeev Gautam was named as chairman of the board, David Sewell as president and CEO, and Tina Pierce as chief financial officer. Jeff Dormo and Simon Mawson were to be promoted to lead Solstice Advanced Materials’ two business segments as senior vice president and general manager. They led business units of Honeywell Advanced Materials.
