(Reuters) -Honeywell on Thursday named insider Mike Stepniak its new chief financial officer as incumbent Greg Lewis has decided to step down from the role.

Stepniak, who currently serves as vice president and financial head for Honeywell Aerospace Technologies, will succeed Lewis after the U.S. conglomerate announces its results for 2024.

Stepniak has been with the company since 2020.

“He (Mike) brings a strong track record of driving profitable growth across numerous industrial and technology businesses during multiple market and economic cycles,” Honeywell CEO Vimal Kapur said in a statement.

Lewis will take on a new role as senior vice president of Honeywell Accelerator and serve as a senior adviser to the CEO.

(Reporting by Aishwarya Jain in Bengaluru; Editing by Shreya Biswas and Sriraj Kalluvila)