8-KLeadership ChangesCorporate ChangesExhibits & Filings

EMERSON ELECTRIC CO 8-K Report, Executive Changes (Nov 9, 2012)

Filed November 9, 2012For Securities:EMR

Summary

Emerson Electric Co. (EMR) filed an 8-K on November 8, 2012, detailing a significant change in its Board of Directors composition and an amendment to its corporate bylaws. Walter J. Galvin announced his retirement as Vice Chairman and Board member, effective February 5, 2013, with potential for future consulting services to the company. Furthermore, the company's Board of Directors amended the corporate bylaws on November 6, 2012. This amendment specifically modifies Article III, Section 3, removing the previous age restriction for directors to stand for election or re-election after reaching 72. The immediate impact of this change is to allow August A. Busch III to serve an additional one-year term on the Board, extending his tenure until the February 2014 Annual Meeting of Stockholders. Investors should note these governance changes as they may signal evolving board dynamics and succession planning.

Key Highlights

  • 1Walter J. Galvin will retire as Vice Chairman and a member of the Board of Directors, effective February 5, 2013.
  • 2Mr. Galvin is expected to transition to a consulting role with the Company after his retirement.
  • 3Emerson Electric's Board of Directors adopted amendments to the company's Bylaws on November 6, 2012.
  • 4The Bylaws were amended to remove a director age restriction for election or re-election after age 72.
  • 5This amendment enables August A. Busch III to serve an additional one-year term on the Board.
  • 6August A. Busch III's extended term will conclude at the Company's Annual Meeting of Stockholders in February 2014.

Frequently Asked Questions

Walter J. Galvin is retiring as Vice Chairman and a member of Emerson Electric's Board of Directors, effective February 5, 2013. He is expected to become a consultant to the company under terms to be determined.

Emerson Electric's Board of Directors amended the company's Bylaws, effective November 6, 2012. The key change involved Article III, Section 3, which previously stipulated that no Director could stand for election or re-election after reaching the age of 72. This restriction has now been removed.

The amendment to the Bylaw was specifically made to allow August A. Busch III to serve an additional one-year term on the Board of Directors. His term will now extend until the Company's Annual Meeting of Stockholders in February 2014.

This 8-K filing primarily concerns corporate governance changes related to director departures and bylaw amendments. It does not directly announce any financial results or material financial transactions that would have immediate, direct financial implications for investors based on the provided text.