The American Football Coaches Foundation®
today announced that David M. Cote
, Chairman and Chief Executive Officer of Honeywell, is the 2016 recipient of its CEO Coach of the Year® Award
This is the highest honor bestowed by the organization, whose inaugural recipient in 2006 was Jeffrey R. Immelt, the CEO of General Electric. Former Domino’s Pizza CEO David Brandon, former MidAmerican Energy Holdings CEO David Sokol, former HP CEO Mark Hurd, FedEx Corp. Chairman and CEO Frederick W. Smith, BP Capital L.P. Chairman and CEO T. Boone Pickens, NFL Commissioner Roger Goodell, ExxonMobil Chairman and CEO Rex W. Tillerson, AT&T Chairman and CEO Randall Stephenson, and Berkshire Hathaway Energy Chairman and CEO Greg Abel, received the honor in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015 respectively.
Cote was selected for the award by a unanimous vote of the AFCF® Board of Directors. He will be honored at The Foundation’s CEO Coach of the Year Dinner, held at The Waldorf Astoria® in New York, N.Y., on November 28, 2016.
“I am honored to be named CEO Coach of the Year and to be recognized by the American Football Coaches Foundation,” Cote said. “CEOs and football coaches are one and the same in that we lead groups of people to achieve greatness so that the team will benefit and succeed.”
“Dave Cote's proven performance track record, leadership and vision for Honeywell during his 15 years as Chairman and CEO has transformed the Company into one that is held up as a prime example of one of the best run, most dynamic and innovative companies in the world today. And, Dave is revered as one of the world's best CEOs,” AFCA Executive Director Todd Berry said. “There is no question why the AFCF Board of Directors voted him our 2016 AFCF CEO Coach of the Year. This is a very deserving honor for one of the great business leaders of our time.”
In 2002, Cote was named Chairman and CEO of Honeywell. Under Cote's leadership, Honeywell transformed from an under-performing company with three competing cultures (AlliedSignal, Pittway and the legacy Honeywell) to “One Honeywell,” a recognized global industrial and technology leader that is making strategic investments in products, processes, people and geographies and has a strong financial track record, disciplined processes and an outstanding, mobilized workforce of approximately 130,000 worldwide.
Under Cote’s leadership, the company has had a strong record of financial performance, consistently beating targets, outperforming peers and delivering a total shareowner return of more than 550 percent (12/31/02-today) vs. the S&P 500 which has delivered an approximate 200% return during that same time. Honeywell has made approximately 90 acquisitions, adding about $14 billion in sales, during Cote’s tenure and has also divested approximately $7 billion in sales through about 60 divestures. This has helped Honeywell build great positions in good industries globally, including aerospace, oil and gas, homes, commercial buildings, defense, industrial and utilities, transportation and more. The Company’s diverse portfolio focuses on addressing some of the world’s most critical challenges around energy, safety, security, productivity and global urbanization.
Today, Honeywell operates about 1,250 sites in 70 countries. Honeywell has a focus on software
, where it blends a strong legacy in manufacturing physical products with software that connects solutions, improves user experience, efficiency and productivity, and is hugely important with the Internet of Things. The Company has about 23,000 engineers and scientists, of which about 50% are software engineers who are helping Honeywell evolve into a cyber-industrial company and drive long-term growth. In 2015, Honeywell became the first and only large Western company to be 100% compatible with CMMI Maturity Level 5 across all global operations and in every business.