(Reuters) -Honeywell will appoint activist investor Elliott Investment Management’s Marc Steinberg to its board, the company said on Wednesday, ahead of its planned split into three independently listed companies. Steinberg, a partner at Elliott who also serves on the board of Etsy and Pinterest, will become an independent director and audit committee member at Honeywell, […]
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Honeywell to add Elliott’s Marc Steinberg to board
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(Reuters) -Honeywell will appoint activist investor Elliott Investment Management’s Marc Steinberg to its board, the company said on Wednesday, ahead of its planned split into three independently listed companies.
Steinberg, a partner at Elliott who also serves on the board of Etsy and Pinterest, will become an independent director and audit committee member at Honeywell, effective May 31.
Elliott became one of Honeywell’s biggest investors when it took a $5 billion stake in November, pushing the industrial giant to split its business.
In February, the company announced plans to separate its aerospace and automation businesses, alongside its previously announced spinoff of its advanced materials unit.
Honeywell has said it intends to complete the separation in the second half of 2026.
Elliott manages about $70 billion in assets and is one of the busiest and most powerful activist investors, having most recently won two boardroom seats at Phillips 66.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Leroy Leo)