Honeywell has named a chairman of the board for its Transportation Systems unit as it prepares to spin the business off into a standalone company, Garrett Motion Inc., it announced Monday.
Carlos Cardoso will begin his role upon completion of the spinoff, expected by the end of the third quarter, Morris Plains-based Honeywell said in a news release. The company previously announced that CEO and President Olivier Rabiller will remain in his roles after the spinoff.
“Carlos has distinguished himself as a successful leader of public companies with extensive experience in manufacturing and distribution operations,” Honeywell Chairman and CEO Darius Adamczyk said in a prepared statement. “He has a strong track record of successful portfolio management and asset allocation in support of growth.
“The addition of Carlos as chairman strengthens an already well-equipped global business leadership team led by President and CEO Olivier Rabiller to accelerate business growth amid a dynamic and evolving automotive industry. Carlos will be a great fit for the Transportation Systems business as it moves forward as Garrett after the spin, and he and Olivier will collaborate very effectively to provide leading vehicle technologies that will help carmakers be successful as the industry evolves toward lower-emission powertrains and more electrified and connected vehicles.”
Cardoso is the principal of CMPC Advisors, focusing on helping private equity companies make investments in the industrial, manufacturing and distribution sectors since January 2015. He was chairman and CEO of the Kennametal metalworking solutions and components company from 2006 to 2014 and currently serves on the boards of Stanley Black & Decker and Hubbell Corp., as well as Fairfield University.
The future Garrett business is a global leader in turbochargers. After the spinoff, it is expected to have annual revenue of about $3 billion and about 6,500 workers.
