Summary
Emerson Electric Co. (EMR) announced a significant addition to its Board of Directors with the election of Martin S. Craighead, effective June 4, 2019. Mr. Craighead brings extensive experience, having served as former Vice Chairman of Baker Hughes, a GE Company, and previously as its Chairman and Chief Executive Officer. His appointment is intended to leverage his leadership and industry insights to guide the company's strategic direction. Mr. Craighead's appointment also includes his membership on two key board committees: the Compensation Committee and the Corporate Governance and Nominating Committee. This placement underscores the board's focus on executive compensation and governance practices. His compensation as a director will align with that of other non-management directors, including a pro rata restricted stock award.
Key Highlights
- 1Election of Martin S. Craighead to the Board of Directors.
- 2Mr. Craighead's prior executive experience includes Chairman and CEO of Baker Hughes.
- 3Appointment to the Compensation Committee.
- 4Appointment to the Corporate Governance and Nominating Committee.
- 5Director compensation includes a $100,000 pro rata restricted stock award.
- 6Future compensation for Mr. Craighead will be consistent with other non-management directors.
- 7Press release announcing the election is attached as an exhibit.