Who is James S. Turley and why was he appointed?

James S. Turley is the retired Chairman and Chief Executive Officer of Ernst & Young. His appointment to Emerson's Board of Directors is intended to leverage his extensive experience in financial auditing, corporate governance, and executive leadership to enhance the board's oversight and strategic guidance.

What committees will Mr. Turley serve on?

Mr. Turley has been appointed as a member of the Audit Committee and the Corporate Governance and Nominating Committee. These roles are critical for overseeing financial reporting, internal controls, and board composition.

How will Mr. Turley be compensated?

Mr. Turley will receive compensation consistent with other non-management directors. This includes an award of 1,272 shares of restricted stock, representing a pro-rata portion of the annual retainer, valued at approximately $72,917.

Is this a significant change for Emerson's board?

The appointment of a director with Mr. Turley's background and committee assignments suggests a continued focus on strengthening independent oversight and financial expertise within the company's governance structure, which is generally viewed positively by investors.

EMR 8-K: Leadership Changes

Summary

This 8-K filing by Emerson Electric Co. (EMR) primarily announces the appointment of a new independent director, James S. Turley, to its Board of Directors, effective July 10, 2013. Mr. Turley, the retired Chairman and CEO of Ernst & Young, brings significant experience in financial oversight and corporate governance, which are crucial for investor confidence and company accountability. His appointment to the Audit Committee and the Corporate Governance and Nominating Committee underscores the company's commitment to strengthening its board's oversight capabilities.

Key Highlights

1Appointment of James S. Turley as a new independent director to the Board.
2Mr. Turley is the retired Chairman and CEO of Ernst & Young, bringing extensive experience.
3Mr. Turley has been appointed to the Audit Committee and the Corporate Governance and Nominating Committee.
4Mr. Turley's appointment is effective immediately and he will stand for election at the 2014 Annual Meeting of Stockholders.
5Non-management director compensation will apply to Mr. Turley, including a restricted stock award valued at approximately $72,917 on a pro-rata basis.

EMERSON ELECTRIC CO 8-K Report, Executive Changes (Jul 11, 2013)

Summary

Key Highlights

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