Honeywell Adds Elliott Partner to Board Ahead of 2026 Breakup

Honeywell International has agreed to a cooperation deal with activist investor Elliott Management, appointing Elliott partner Marc Steinberg to its board of directors effective May 31, 2025. This move supports Honeywell's strategic plan to split into three independent, industry-leading companies, aiming to enhance operational performance and unlock shareholder value. The agreement includes provisions such as a non-disparagement clause, Elliott's commitment to support Honeywell's board candidates, and a standstill clause limiting Elliott's share acquisition to below 4.9%. Analysts view Honeywell's stock positively, citing strong financial performance and strategic initiatives despite some concerns over valuation and market momentum. Steinberg's board role, particularly on the audit committee, underscores Elliott's active involvement in overseeing financial and operational governance during this transformative period. Overall, the partnership reflects a concerted effort to drive Honeywell's portfolio transformation and maximize long-term growth potential amid economic uncertainties.