FPL Group Inc. of Florida announced that Moray Dewhurst has been elected to the position of CFO of the $7 billion electricity-related services company. He will assume his new position in mid-July. Dewhurst previously served as a senior partner and director of Dean & Co., a management consulting and investment firm that he cofounded in 1993. While at Dean, he worked closely with FPL Group and its businesses. Under contract with FPL Group and Entergy Corp., Dewhurst had the responsibility for leading the financial integration team for the two companies prior to their merger being terminated in April. He also has assisted FPL Group’s independent power producer subsidiary, FPL Energy, in assessing its operations and subsequently redesigning business processes, as well as developing analytical tools and techniques to enhance business operations and planning.

The board of directors of Honeywell said that Michael R. Bonsignore has announced his intention to retire from the company, effective immediately. Bonsignore had served Honeywell for more than 31 years. The board also announced that it has named Lawrence A. Bossidy as Honeywell’s chairman and CEO. Bossidy, 66, served as chairman and CEO of AlliedSignal from 1991 to 1999, when he became chairman of Honeywell following the merger of the two companies. He retired from the company in April 2000. Honeywell said Bossidy is credited with transforming AlliedSignal into one of the world’s most admired companies, whose success was largely shaped by an intense focus on growth and Six Sigma-driven productivity. With regard to the recently blocked $41 billion merger with General Electric (GE), Bossidy said, “It is time to leave behind the distractions of the past several months and to immediately implement a laser-sharp focus on consistently meeting our financial commitments and our customers’ needs.” The European Competition Commission rejected the merger late last month over concerns about GE-Honeywell’s eventual ability to dominate large segments of the European aviation industry. Among other things, the commission wanted GE to spin off its Capital Aviation Services unit.

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