Summary
Emerson Electric Co. (EMR) filed an 8-K on February 9, 2009, reporting key changes to its Board of Directors. Notably, David C. Farrell retired from the board due to the company's age policy for directors. This retirement was effective following the Annual Meeting of Stockholders on February 3, 2009. In connection with these changes, the company also announced the election of Dr. Clemens Boersig to its Board of Directors. Dr. Boersig, who holds a significant leadership position at Deutsche Bank AG, brings international financial expertise. He has been appointed to serve on the Compensation Committee and the Finance Committee, aligning with the board's governance structure.
Key Highlights
- 1David C. Farrell retired from the Emerson Electric Co. Board of Directors on February 3, 2009, adhering to the company's bylaw regarding director age limits.
- 2Dr. Clemens Boersig, Chairman of the Supervisory Board of Deutsche Bank AG, was elected to the Emerson Electric Co. Board of Directors on February 3, 2009.
- 3Dr. Boersig will stand for election by stockholders at the 2010 Annual Meeting.
- 4Dr. Boersig has been appointed as a member of the Compensation Committee and the Finance Committee.
- 5Dr. Boersig will receive compensation consistent with other non-management directors, including a restricted stock award valued at $115,000.
- 6The filing incorporates by reference a press release dated February 9, 2009, detailing Dr. Boersig's election.