Honeywell CEO Addresses Club

Honeywell CEO Addresses Club

Effective mergers between large corporations will be the key to their prosperity in the new global economy, Honeywell, Inc. Chairman and CEO Michael Bonsignore told a gathering of about 150 Boston-area business leaders at a Boston College Chief Executives Club luncheon on Nov. 4.

Honeywell's chief executive since 1993, Bonsignore will emerge as CEO of a new company that is expected to result early next year from a merger with AlliedSignal, Inc.

Marriages of large companies that complement each others' strengths and reduce each others' weaknesses will be key if they hope to be successful on the world stage, Bonsignore said. Referring to the Honeywell-AlliedSignal merger, Bonsignore said, "Together we will be more successful that either company could be individually."

He said the new company will focus on expansion in Europe, Latin America and Asia, particularly China. But while companies need to focus on global growth, they also need to pay close attention to their own backyards, he said.

"We have a responsibility to improve the quality of life in the communities in which we operate, and in which our employees live, around the world," Bonsignore said. "It's good for business, and I think it's the right thing to do."

Bonsignore said mergers of large corporations need to be accomplished quickly in order to be effective. Integrating Honeywell and AlliedSignal, he said will involve three months of planning and three months of implementation, a relatively speedy move that will enable the company and its employees to make the transition and get down to business as quickly as possible.

-Michael Seele

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