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STEFFEN RESIGNS FROM EXECUTIVE, BOARD POSITIONS AT HONEYWELL; CFO LEAVES COMPANY TO PURSUE OTHER INTERESTS

 MINNEAPOLIS, Dec. 23 /PRNewswire/ -- Honeywell Inc. (NYSE: HON) today said Christopher J. Steffen resigned effective immediately from his position as executive vice president and chief financial and administrative officer and from the company's board of directors. Steffen said he is leaving to pursue other interests.
 James J. Renier, Honeywell chairman and chief executive, said a search for a successor to Steffen, including internal and external candidates, is under way. In the interim, executives heading the company's legal, audit and finance functions will report to Renier, and those heading administrative functions will report to Clint O. Larson, vice president of corporate operations.
 "As a member of a strong executive team that successfully restructured Honeywell and restored it to financial health, Chris Steffen contributed significantly to the future of this company," Renier said. "We wish him the very best as he moves forward in his career.
 "At Honeywell, our management team continues the commitment to deliver stable, consistent financial performance in a slow-growth economy. The company is financially strong, and we are well-positioned for long-term growth and prosperity," Renier said.
 In addition to Renier, 62, Honeywell's executive management includes Michael R. Bonsignore, 51, executive vice president and chief operating officer for Home and Building Control and International; and D. Larry Moore, 56, executive vice president and chief operating officer for Space and Aviation and Industrial.
 Steffen, 50, joined Honeywell in 1989 as vice president and chief financial officer. A year later he was elected to the Honeywell board of directors and promoted to executive vice president and chief financial and administrative officer. Prior to joining Honeywell, Steffen was vice president and controller at Chrysler Corp.
 Honeywell is a global controls company that provides products, systems and services for homes and buildings, industry, and aviation and space. The company employs 58,000 people worldwide and had 1991 sales of $6.2 billion.
 -0- 12/23/92
 /CONTACT: Kevin Whalen of Honeywell, 612-951-0070/
 (HON)


CO: Honeywell Inc. ST: Minnesota IN: SU: PER

KH -- MN001 -- 9416 12/23/92 07:50 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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