Summary
This 8-K filing from Emerson Electric Co. (EMR) details the results of its 2018 Annual Meeting of Shareholders, held on February 6, 2018. The report confirms the election of directors, the ratification of KPMG LLP as the independent auditor, and the approval of executive compensation. Importantly, several shareholder proposals, including those related to amending bylaws, adopting an independent board chair policy, and increased reporting on political contributions, lobbying, and greenhouse gas emissions, did not receive majority shareholder support. The filing also notes the retirement of a director, J. W. Prueher, due to age limitations.
Key Highlights
- 1All four nominated directors were successfully elected by a significant majority of shareholders.
- 2KPMG LLP was ratified as Emerson Electric's independent registered public accounting firm for fiscal year 2018 with strong shareholder approval.
- 3The company's executive compensation plan was approved by a non-binding advisory vote from shareholders.
- 4A shareholder proposal to grant shareholders the right to amend the company's bylaws failed to gain the required 85% of outstanding shares for approval.
- 5Shareholder proposals concerning the adoption of an independent Board Chair policy, and increased reporting on political contributions, lobbying, and greenhouse gas emissions were all rejected by a majority of votes.
- 6Director J. W. Prueher retired from the Board of Directors in accordance with the company's age-based retirement policy for directors.