David M. Cote: Wandering Youth Becomes Outstanding Executive

Some people have to find their way around before they finally hit their stride. David M. Cote was a young man who wandered off a bit before finally buckling down and getting things done. He was born in 1952. It took him longer than average to finish college, not because he was flunking but he was doing other things.

Money intended for college he used to buy a car and became a manual laborer. Then he decided to finally go to college at the University of New Hampshire so he could get ahead with life. This took a bit longer, six years in fact since he held a full time night job at GE jet-manufacturing plant. He also bought a boat with a friend and tried the life of a lobster fisherman.

After finally earning his degree in business administration, Cote got managerial jobs in the consumer-electronics, jet engines, and plastic divisions at GE. By 1996 he was appointed president and CEO of the $6 billion Appliances division. He pioneered at GE what they called the “smart bomb” technique. Instead of implementing a continent wide approach in Asia, Cote formed teams to study the individual cultures and needs of each country then offered the suited appliances.

After not getting the top position at GE, Cote went to work for TRW as president and COO in 1999. In early 2001 Cote became CEO and was appointed chairman in late 2001. He led the establishment of a new subsidiary at TRW then took another change of job.
This job would be his biggest challenge. In early 2002 he became president, CEO, and member of the board of directors at Honeywell. In middle of 2002 the title of chairman of the board was added. The company he would lead had mounting debt, low sales, asbestos lawsuits, low morale and falling stock prices.

He turned things around at Honeywell. It is today a $37 billion technology and manufacturing company with almost 140,000 employees and more than 50 percent of its revenues outside of the U.S. He has received many awards for his leadership performance and was given an honorary Doctor of Humane Letters from his alma mater. The man who wandered off a bit has made significant impact in not just one but all three companies he worked for.