Honeywell Chairman and CEO Dave Cote Featured on CNBC's 20th Anniversary of Squawk Box's "Future of Manufacturing"
September 17, 2015
To celebrate CNBC’s 20th anniversary of “Squawk Box”, Honeywell Chairman and CEO, Dave Cote, and Caterpillar Chairman and CEO, Doug Oberhelman, joined the show as guest anchors to discuss the future of manufacturing. Squawk Box co-hosts Becky Quick, Andrew Ross Sorkin, and Joe Kernen questioned the CEOs about their thoughts on China’s growth and stability, the state of the U.S. economy, Ex-Im bank, and their political impressions.
Focusing on what the next 20 years of manufacturing will look like, Cote and Oberhelman spoke about the need for productivity and how it correlates to economic growth, as well as the importance of placing jobs where the markets are most robust.
While reflecting on a future manufacturing renaissance, Cote commented: “There are a couple of things that are going to drive it. The first is that software is more and more important, and, if you look at Honeywell, for example - a $40 billion company - you think of jet engines, turbochargers, cockpits, control systems, some chemicals… You’ll tend to think about it as chemical engineering or mechanical engineering. If you took a look at our 2,000+ engineers, more than half of those engineers are focused on developing software. So whether it’s at the simulation level, product enablement, or software as a service, software has become a bigger and bigger piece. So that’s a dynamic that’s not going to change. We need our education system to start supporting that. So that’s one. The second one is more on the cultural side. And I think you’ll see that in most companies, that we’ve done a pretty good job of this, by focusing on, ‘How do you have everybody just a lot more involved in the process than you did before?’”
During the program, Honeywell gifted the show’s anchors personalized fire helmets with their last names – the same equipment the New York City firefighters’ use – as well as Muck Boots, to congratulate them on 20 years on the air and showcase the wide breadth of the Honeywell portfolio.
Watch a segment of the program.