|Tedjarati will continue to report directly to Honeywell chairman and CEO Dave Cote|
Honeywell announced that Shane Tedjarati was named to the broader role of President, High Growth Regions, and Stephen Shang will take over as President, Honeywell China, effective immediately. Tedjarati will continue to report directly to Honeywell Chairman and CEO Dave Cote. Shang will report to Tedjarati.
"Globalisation has been a key pillar of our Growth Initiative for the past decade," said Dave Cote, Honeywell Chairman and CEO. "Ten years ago, less than 40% of our sales were generated outside the U.S. Today, our company is twice the size, and approximately 55% of our revenues are generated outside the U.S. We began executing this strategy by focusing on the two most important emerging markets - China and India. That strategy has proven to be a good one. We have grown nearly ten-fold in revenues and now have nearly 25,000 employees in China and India, representing a significant share of our global growth story."