David M. Cote

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David M. Cote
Dave Cote Headshot.jpg

David M. "Dave" Cote (born July 19, 1952) is an American businessman. He serves as the Chairman and CEO of Honeywell.

Biography[edit]

Early life[edit]

Cote was born in Manchester, New Hampshire and graduated from Pembroke Academy in Pembroke, New Hampshire.[1] He is a 1976 graduate of the University of New Hampshire, where he earned a bachelor's degree in business administration.

Career[edit]

He joined General Electric in November 1979, where he served twenty years, progressing through a series of top-level positions in manufacturing, finance, marketing, strategic planning and general management. He was appointed to his last position at GE, corporate senior vice president and president and CEO of GE Appliances, in 1996.

In November 1999, Cote became president and COO of TRW, a $16 billion Cleveland-based products and services provider for the automotive, aerospace and information technology markets. By February 2002, he had ascended to become chairman and CEO.[2]

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

While CEO of Honeywell International in 2009, David M. 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.[3]

He is also a member of the board of directors at JPMorgan Chase and is 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 the bank has been under siege since CEO Jamie Dimon said May 10, 2012 that the firm’s chief investment office suffered a $2 billion loss trading credit derivatives.[4]

He is a member of the Executive Committee of The Business Council for 2011 and 2012.[5]

Cote was named 2013 Chief Executive of the Year by Chief Executivemagazine.[6]

Honeywell Ibasho House Opening Ceremony
Haiti Dave Cote cuts ribbon with Operations USA Richard Walden

Relations with the Obama Administration[edit]

President Barack Obama talks with Michael G. Morris, right, of American Electric Power Company, and David Cote in the Cross Hall of the White House, before a dinner with CEOs, Feb. 24, 2010.

Cote is a Republican, but has close ties with President Barack Obama and the Obama Administration as a whole.[citation needed] Shortly after President Obama took office in January 2009, Cote was one of the few CEOs invited to the White House for a tête-à-tête with the President.[7] In November 2009, Cote was one of the 12 CEOs selected by the White House to host the US-India CEO Forum, which Cote and Ratan Tata Co-Chaired.[8] The forum included other U.S. top-level executives including Vikram Pandit, Jamie Dimon and Indra Nooyi, among others.

Debt Commission[edit]

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.[9][10]

References[edit]

External links[edit]