Honeywell International Inc. has named key executives to steer its forthcoming aerospace spin-off, tapping Deere & Co.’s finance chief Josh Jepsen as chief financial officer and elevating three longtime insiders to head major business units. The moves, announced January 22, 2026, from Charlotte, N.C., signal accelerating preparations for Honeywell Aerospace to launch as an independent, publicly traded entity in the second half of 2026, headquartered in Phoenix, Arizona, and listed on Nasdaq under the ticker “HONA.” The unit generated more than $15 billion in 2024 sales, positioning it among the largest pure-play aerospace and defense suppliers.

Jepsen, whose resignation from Deere takes effect February 19, will assume the CFO role at Honeywell Aerospace on February 23, succeeding Sebastien Chague, who remains with the firm in an unspecified capacity. A nearly 25-year Deere veteran, Jepsen joined as an intern in 1999 and advanced through auditing, accounting, investor relations, and regional controller positions across the U.S., Canada, Asia-Pacific, sub-Saharan Africa, India, Southeast Asia, and China before becoming senior vice president and CFO. At Deere, he oversaw worldwide accounting and finance while advising on strategic issues amid tariff pressures and margin squeezes, as noted during the company’s November 2025 earnings call.

Deere responded swiftly, appointing Ryan D. Campbell, its president of Worldwide Construction & Forestry and Power Systems and a prior CFO, as interim finance chief. The farm equipment giant reported a 29% drop in fiscal-year net income to $5.02 billion, forecasting further declines to $4 billion-$4.75 billion for fiscal 2026 due to industry headwinds.

Insider Promotions Anchor Business Units

The business unit leaders—Bob Buddecke, Dave Marinick, and Rich DeGraff—will take formal titles post-spin-off and report to President and CEO Jim Currier, named to the role in November 2025. Buddecke, a 27-year Honeywell veteran and vice president of integrated supply chain, will lead Electronic Solutions, which supplies integrated avionics, navigation and sensors, electromagnetic defense, and high-performance space solutions. His career highlights include roles in operational excellence, supply chain performance, strategic growth, and cross-business innovation, with past stints as vice president and general manager of power systems.

Dave Marinick, with 37 years at Honeywell including as president of Engines & Power Systems, brings expertise in business strategy, engineering leadership, and large-scale program management. He will oversee propulsion systems, auxiliary power units, and electric power solutions, powering air transport, business jets, advanced air mobility, and military platforms. Marinick, a third-generation aerospace professional and University of California, Berkeley alumnus based in Phoenix, has championed innovations like the HON1600 engine and celebrated milestones such as the 75th anniversary of legacy products.

Rich DeGraff, president of Control Systems with over 17 years at Honeywell interspersed with external roles including senior vice president at Salesforce, will direct mission-critical thermal and motion control systems for flight, life support, and safety. These encompass air and thermal systems, actuators, lighting, wheels, brakes, and electrification efforts. A Wharton School graduate, DeGraff emphasizes customer engagement, P&L ownership, and growth, having rejoined Honeywell in 2023 after pioneering roles in supply chain and original equipment segments.

Spin-Off Momentum Builds

“These appointments position Honeywell Aerospace for long-term success as we advance toward launching an independent company that will play a vital role in the aerospace and defense industry,” said Currier. “Each of these leaders brings the skill, operational experience and deep customer focus needed to execute our strategy and drive continued growth as a pure-play aerospace business of our scale.” (PR Newswire)

The restructuring follows Honeywell’s February 6, 2025, announcement to separate its Aerospace Technologies business after spinning off Advanced Materials as Solstice Advanced Materials on October 30, 2025. The separation awaits SEC filings, tax-free status confirmation, regulatory approvals, and board consent. Analysts view the hires as reducing execution risk, with investor sentiment positive on X, where posts highlighted the spin-off’s scale and leadership depth. (Flight Global)

Honeywell Aerospace’s technologies equip virtually every commercial and defense aircraft platform, blending a 50/50 commercial-defense revenue mix. The new structure aligns leadership with core platforms—avionics, propulsion, and controls—to capitalize on trends like electrification, autonomy, and sustainability amid supply chain strains and geopolitical demands.

Strategic Edge in Turbulent Skies

For Jepsen, the transition from agriculture machinery to aerospace finance underscores sector convergence in precision tech and global supply chains. Deere’s challenges with tariffs mirror aerospace pressures, equipping him to navigate Honeywell’s cost environment. Insiders like Buddecke, who engaged on electric propulsion challenges in 2019, and Marinick, advocating Chinook upgrades, embody deep operational continuity. (Yahoo Finance)

DeGraff’s hybrid tenure adds agility, having driven supplier diversity and partnerships like with GE Aerospace. The team reports to Currier, a Honeywell lifer with prior stints in electronic solutions, aftermarket services, and North American airlines. Craig Arnold, ex-Eaton CEO, chairs the board. This lineup positions the $15 billion entity to pursue growth in hypersonics, drones, and hydrogen amid defense spending surges.

Market reactions were muted but optimistic, with Honeywell shares rising over 3% post-announcement. Investors eye the Form 10 filing and spin-off execution, betting on sharpened focus to unlock value in a fragmented industry. (Reuters)

Unit Deep Dive: Powering Flight’s Future

Electronic Solutions under Buddecke targets cockpit integration and defense electronics, vital for NextGen navigation and space amid rising threats. Engines & Power Systems, Marinick’s domain, powers icons like the M1 Abrams tank’s AGT-1500 and business jets, with innovations like T55 upgrades boosting Chinook performance by 20%. Control Systems, led by DeGraff, ensures safety via brakes on Boeing 777s and thermal controls, emphasizing electrification.

The portfolio’s breadth—from F124 turbofans to Primus EFIS glass cockpits—spans 95,000+ APUs and patents in windshields and gyroscopes. As a standalone, Honeywell Aerospace gains capital flexibility for R&D in AI, quantum, and biotech, aligning with Pentagon priorities. (Phoenix Business Journal)

“The business units they will lead are designed to sharpen strategic focus and align leadership with the company’s core technology platforms,” Honeywell stated. With spin-off on track, this executive cadre promises resilience in volatile markets, from commercial recovery to defense escalation.