Form 8-K EMERSON ELECTRIC CO For: Aug 15
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 15, 2018
Emerson Electric Co.
(Exact Name of Registrant as Specified in Charter)
| Missouri | 1-278 | 43-0259330 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification Number) |
| 8000 West Florissant Avenue St. Louis, Missouri |
63136 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (314) 553-2000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| ☐ | Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 8.01. | Other Events. |
On August 15, 2018, Emerson Electric Co. (the Company) announced that Lal Karsanbhai will succeed Michael Train as Executive President of Automation Solutions, effective October 1, 2018.
Previously, the Company reported that Mr. Train, the Companys current Executive President of Automation Solutions, will succeed Edward Monser as the Companys President, when Mr. Monser retires as President of the Company on October 1, 2018. Mr. Train will also serve as Chairman of Automation Solutions.
Mr. Karsanbhai, 49, has been with Emerson for 23 years and has served as Group President of Emersons Rosemount Measurement & Analytical business since 2016. He previously served as President of Emersons former Network Power business in Europe, Middle East and Africa from 2014 and has held other leadership roles at the Company, including Vice President of Corporate Planning, President of Emersons Fisher Regulator Technologies and Vice President and General Manager of its Natural Gas Unit.
A copy of a press release dated August 15, 2018 announcing Mr. Karsanbhais appointment is attached hereto as Exhibit 99.1.
Forward-Looking and Cautionary Statements
Statements in this Current Report on Form 8-K 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 economic and currency conditions, market demand, pricing, protection of intellectual property, competitive and technological factors, and the impact of the Tax Cuts and Jobs Act, among others, as set forth in the Companys 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 Number |
Description of Exhibits | |
| 99.1 | Press Release dated August 15, 2018 | |
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.
| EMERSON ELECTRIC CO. | ||||||
| (Registrant) | ||||||
| Date: August 15, 2018 | By: | /s/ John A. Sperino | ||||
| John A. Sperino | ||||||
| Vice President and Assistant Secretary | ||||||
Exhibit 99.1
EMERSON NAMES LAL KARSANBHAI TO LEAD AUTOMATION SOLUTIONS PLATFORM
ST. LOUIS, August 15, 2018 Emerson (NYSE: EMR) announced today that Lal Karsanbhai will succeed Michael Train to become executive president of Emerson Automation Solutions, effective October 1. As previously announced, Train will take over as Emersons president and will also serve as chairman of Automation Solutions.
Karsanbhai, who has served as group president of Emersons Rosemount Measurement & Analytical business since 2016, has more than 23 years of experience with Emerson in a career that spans the globe. He served as president of Emersons former Network Power business in Europe, Middle East and Africa from 2014 and has held leadership roles throughout Emerson, including vice president of corporate planning, president of Emersons Fisher regulator technologies, and vice president and general manager of its natural gas unit.
Lal brings deep expertise and knowledge in not only automation technologies, but also the growing global footprint of the industries we serve, said Emerson Chairman and Chief Executive Officer David N. Farr. He will continue the evolution and incredible success of our Automation Solutions platform, as we help our customers navigate the shifting business landscape and adopt transformative digital technologies that improve the safety, cost and reliability of their operations.
In his new role, Karsanbhai will oversee a business with expected 2018 sales of $11.4 billion and more than 53,000 employees across the globe. Emerson Automation Solutions serves a number of industrial manufacturing industries, including oil and gas, chemical, power, food and beverage, life sciences and water and wastewater. He also will join the Office of the Chief Executive, which is responsible for the companys global business strategies.
Lal has been a thoughtful and dynamic leader for our business for many years, and I look forward to working closely with him in his new role, Train added. His intensity on behalf of our customers and his drive to create and deliver best-in-class technologies and services will spur success and value for all of our stakeholders.
Karsanbhai holds a bachelors degree in economics from the University of Michigan and a masters of business administration degree from Washington University in St. Louis.
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Lal Karsanbhai Page 2
About Emerson
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.
Forward-Looking and Cautionary Statements
Statements in this press release 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 economic and currency conditions, market demand, pricing, protection of intellectual property, competitive and technological factors, and the impact of the Tax Cuts and Jobs Act, among others, as set forth in the Companys most recent Annual Report on Form 10-K and subsequent reports filed with the SEC.
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