Why was David C. Farrell granted an extension on the Board?

David C. Farrell was granted an additional one-year term on the Board of Directors because the company amended its Bylaws to allow him to serve beyond the previous age limit of 72. This ensures continuity in his leadership roles, particularly as Chairman of the Corporate Governance and Nominating Committee.

What specific Bylaw was amended?

Article III, Section 3 of Emerson Electric Co.'s Bylaws was amended. This section previously stipulated that no Director could stand for election or re-election after reaching the age of 72.

What is the financial impact of these changes?

This 8-K filing primarily concerns corporate governance and director appointments, not financial performance or material financial changes. Mr. Farrell's compensation for his continued service as a Director will follow the company's standard policies as described in the Proxy Statement.

Are there any other officer changes or new appointments mentioned in this filing?

No, this specific 8-K filing (Item 5.02) only details the reappointment of David C. Farrell to the Board of Directors and his continued committee roles. No other officer departures, elections, or appointments are reported in this document.

EMR 8-K: Leadership Changes & Corporate Changes

Summary

Emerson Electric Co. (EMR) filed an 8-K on February 5, 2008, primarily announcing two key corporate governance actions. First, the Board of Directors appointed David C. Farrell to an additional one-year term, extending his service until the February 2009 Annual Meeting of Stockholders. Mr. Farrell will continue his roles on several committees, including Chairman of the Corporate Governance and Nominating Committee. Second, the company amended its Bylaws, specifically Article III, Section 3, to allow Mr. Farrell to serve an additional year beyond the previous age-based restriction. This amendment enables his continued participation on the Board despite previously reaching the age of 72, ensuring continuity in his board roles and committee memberships. The filing also includes the amended Bylaw provision as an exhibit.

Key Highlights

1David C. Farrell reappointed to the Board of Directors for an additional one-year term ending February 2009.
2Mr. Farrell will maintain his positions as Chairman of the Corporate Governance and Nominating Committee and as a member of the Executive, Compensation, and Finance Committees.
3Emerson Electric Co. amended its Bylaws to permit Mr. Farrell to serve an additional year on the Board.
4The specific bylaw amendment (Article III, Section 3) previously limited director re-election to age 72.
5The amendment allows for continuity in Mr. Farrell's board service and committee leadership.
6The company disclosed its updated Bylaw provision as an exhibit to the 8-K filing.

EMERSON ELECTRIC CO 8-K Report, Executive Changes (Feb 6, 2008)

Summary

Key Highlights

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