GREENWICH, Conn., May 31, 2013 /PRNewswire/ -- Chief Executive magazine today announced that David Cote, Chairman and CEO of Honeywell (NYSE: HON), has been named "2013 CEO of the Year," an honor bestowed upon an outstanding corporate leader, nominated and selected by a group of his peers.
During Cote's tenure as CEO, Honeywell stock has risen +223.5%, compared to rises of +52.8% and +57.1% for the S&P 500 and Dow Jones Industrial Average, respectively. Also under Cote's leadership, Honeywell has shed non-core assets and focused its efforts around global macro-trends with strong future prospects, including safety, security, energy efficiency, energy generation, globalization, and customer productivity.
Cote was appointed by President Obama to both the bipartisan National Commission on Fiscal Responsibility and Reform (commonly known as the Simpson-Bowles Commission) and the U.S.-India CEO Forum. He is also a leading voice and Steering Committee member on the "Campaign to Fix the Debt."
"David exemplifies everything as it relates to being a leading chief executive officer, from performance internally to statesmanship externally," said Jeff Sonnenfeld, CEO of The Yale Chief Executive Leadership Institute at The Yale School of Management."David's been able to master the talent of being able to strategize and execute to make things happen," said David Novak, CEO of Yum Brands and 2012 CEO of the Year. Despite overseeing more than 80 acquisitions, "he's incorporated them into one seamless culture that's working [and] reinforces overall performance." "Wealth creation, long term results—a remarkable turnaround," added Christine Jacobs, chairman, president and chief executive of Theragenics. "Cote exemplifies qualities needed to not only sustain a valued US brand, but shepherd it through an economic downturn that many did not survive." "At a time when American manufacturing is making a comeback, David personifies functional and leadership excellence," commented Fred Hassan, Chairman of Bausch & Lomb and a Partner at Warberg Pincus. "And, on top of that, he's a very good person." Nominations for CEO of the Year were garnered from among the 124,000 readers of Chief Executive magazine. The 10 most frequently cited nominations were evaluated and a winner voted upon at a meeting of a peer Selection Committee, which took place earlier this year in New York City. Recent CEO of the Year winners include David Novak, Alan Mulally, Hugh Grant, Jim Skinner, Anne Mulcahy and Bob Ulrich. The 2013 CEO of the Year Selection Committee was comprised of Dan Glaser (CEO, Marsh & McLennan), Fred Hassan (Chairman, Bausch & Lomb; Partner, Warburg Pincus), William Hickey (CEO, Sealed Air), Christine Jacobs (CEO, Theragenics), Tamara Lundgren (CEO, Schnitzer Steel), Bob Nardelli (CEO, XLR-8), David Novak (CEO, Yum! Brands), William R. Nuti (CEO, NCR), Jeffrey Sonnenfeld (CEO, The Yale Chief Executive Leadership Institute), and James S. Turley (CEO, Ernst & Young). Tom Saporito, Chairman of RHR International, was an advisor to the Selection Committee. Cote's selection as 2013 CEO of the Year will be celebrated at an invitation-only event hosted by NYSE Euronext and the Chief Executive Group at the New York Stock Exchange in July.