David M. Cote

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David M. Cote
Dave Cote Headshot.jpg
Born David M. Cote
(1952-07-01) 1 July 1952 (age 62)[1]
Manchester, New Hampshire
Alma mater University of New Hampshire
Dave Cote presented CEO of Year Award 2013
Cote cuts the ribbon with Richard Walden to open the Ecole Nationale Jacob Martin Henriquez school in Jacmel, Haiti on March 11, 2011.

David M. "Dave" Cote (born July 19, 1952) is an American businessman and chairman and chief executive officer (CEO) of Honeywell.

Early life[edit]

Cote was born in Manchester, New Hampshire and graduated from Pembroke Academy in Pembroke, New Hampshire.[2] In 1976, he graduated from the University of New Hampshire with a bachelor's degree in business administration.

Career[edit]

Cote joined General Electric in November 1979, where he served twenty years, progressing through a series of positions in manufacturing, finance, marketing, strategic planning and general management. He became corporate senior vice president and president and CEO of GE Appliances in 1996.

In November 1999, Cote joined TRW, a $16 billion Cleveland-based products and services provider for the automotive, aerospace and information technology markets. By February 2002, he was chairman and chief executive officer of the firm.[3]

He was appointed president, CEO and a member of the board of Honeywell in February 2002, and became chairman of the board on July 1, 2002.

While CEO of Honeywell International in 2009, Cote earned a total compensation of US$12,839,038, which included a base salary of $1,800,000, no cash bonus, $4,252,500 in stock, options granted of $6,374,500, and other compensation of $412,038.[4]

He is also a member of the board of directors at JPMorgan Chase and an advisor to Kohlberg Kravis Roberts (KKR). In 2012, Cote came under criticism as one of the three members of JP Morgan Chase's risk committee, after CEO Jamie Dimon said on May 10, 2012 that the firm’s chief investment office suffered a $2 billion loss trading credit derivatives.[5]

He was a member of the Executive Committee of The Business Council for 2011 and 2012.[6]

Cote was named 2013 Chief Executive of the Year by Chief Executive magazine.[7]

Work for the White House[edit]

Shortly after President Obama took office in January 2009, Cote was one of several businesspeople invited to the White House to meet the President.[8] In November 2009, Cote was one of the 12 businesspeople asked by the White House to host the US-India CEO Forum, which Cote and Ratan Tata co-chaired.[9] The forum included other American executives including Vikram Pandit, Jamie Dimon and Indra Nooyi.

In February 2010, Cote was selected by President Obama to be on the National Commission on Fiscal Responsibility and Reform, more commonly known as the debt panel.[10][11]

References[edit]

  1. ^ "Vikram Pandit: A Profile". 21 March 2011. Retrieved 14 January 2012. 
  2. ^ "NH native Cote to receive Horatio Alger Award". New Hampshire Union Leader. Retrieved March 22, 2014. 
  3. ^ "David Cote". Forbes. 
  4. ^ 2009 CEO Compensation for David M. Cote, Equilar
  5. ^ Kopecki, Dawn; Abelson, Max (2012-05-25). "JPMorgan Gave Risk Oversight to Museum Head With AIG Role". Bloomberg. 
  6. ^ The Business Council, Official website, Executive Committee
  7. ^ Donlon, JP (2013-05-31). "Chief Executive Magazine Names Honeywell CEO David Cote 2013 CEO of the Year". Chief Executive magazine. 
  8. ^ "Dave Cote Introduces President Obama at White House Media Briefing on U.S. Recovery Plan « Honeywell Now – Keeping you up to date on Honeywell". Honeywellnow.com. 2009-01-27. Retrieved 2010-03-16. 
  9. ^ "Statement by the Press Secretary on the U.S. - India CEO Forum | The White House". Whitehouse.gov. 2009-11-23. Retrieved 2010-03-16. 
  10. ^ "Obama Names Debt Commission Picks". Huffington Post. 2010-02-26. 
  11. ^ "NH native Cote to receive Horatio Alger Award". New Hampshire Union Leader. Retrieved March 22, 2014.