Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 13, 2018, Edward L. Monser indicated that he would retire as President of Emerson Electric Co. (the “Company”), effective October 1, 2018.
Also on August 13, 2018, the Company determined that upon Mr. Monser’s retirement, Michael H. Train, [55], the Company’s current Executive President of Automation Solutions, will succeed Mr. Monser and be named as the Company’s President. Mr. Train’s replacement at Automation Solutions will be named later. Mr. Train will serve as Chairman of that platform.
Mr. Train has been with Emerson for 27 years and has served as Executive President of Automation Solutions since October 2016. Prior to that, Mr. Train was Executive Vice President—Automation Solutions from May 2016 through October 2016 and President of Global Sales for Emerson Process Management from 2010 through May 2016.
A copy of a press release dated August 14, 2018 announcing Mr. Monser’s retirement and Mr. Train’s appointment is attached hereto as Exhibit 99.1.
Forward-Looking and Cautionary Statements
Statements in this Current Report on Form8-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 Company’s most recent Annual Report on Form10-K and subsequent reports filed with the SEC.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.