UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 27, 2021, David N. Farr indicated that he would retire as Chief Executive Officer of Emerson Electric Co. (the “Company”), effective February 5, 2021. In addition, the Company requested that Mr. Farr, and Mr. Farr has agreed to, continue as a Director and as non-executive Chairman of the Board through May 4, 2021.
Also on January 27, 2021, the Company appointed Surendralal (Lal) L. Karsanbhai as the next Chief Executive Officer of the Company and has elected him as a Director, both effective as of February 5, 2021.
Mr. Karsanbhai, 51, has been Executive President of Automation Solutions since October 2018. Previously, Mr. Karsanbhai was Group President - Measurement & Analytical from 2016 through September 2018, and President Emerson Network Power Europe, Middle East and Africa from 2014 through 2016. Mr. Karsanbhai was appointed to serve as a member of the Executive Committee of the Board. Mr. Karsanbhai’s replacement at Automation Solutions will be named later.
| Item 7.01. | Regulation FD Disclosures. |
The following information is furnished pursuant to Regulation FD.
On February 1, 2021, the Company issued a press release announcing Mr. Farr’s retirement and Mr. Karsanbhai’s appointment. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.
Forward-Looking and Cautionary Statements
Statements in this Current Report on Form 8-K and furnished in Exhibit 99.1 that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and Emerson undertakes no obligation to update any such statements to reflect later developments. These risks and uncertainties include the scope, duration and ultimate impact of the COVID-19 pandemic as well as economic and currency conditions, market demand, including related to the pandemic and oil and gas price declines and volatility, pricing, protection of intellectual property, cybersecurity, tariffs, competitive and technological factors, among others, as set forth in the Company’s most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Description of Exhibits | |
| 99.1 | Press Release dated February 1, 2021. | |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: February 1, 2021 | EMERSON ELECTRIC CO. | |||||
| By: | /s/ John A. Sperino | |||||
| John A. Sperino | ||||||
| Vice President and Assistant Secretary | ||||||