Summary
This Form 8-K filing by Rockwell Automation, Inc. (ROK) announces a significant leadership transition. Effective July 1, 2016, current Chairman, President, and CEO Keith D. Nosbusch will step down as President and CEO, continuing his role as Chairman. Blake D. Moret, currently Senior Vice President of Control Products and Solutions, has been elected to succeed Mr. Nosbusch as President and CEO and will also join the Board of Directors. This change marks the end of Mr. Nosbusch's long tenure as CEO since 2004. Mr. Moret, with extensive experience at Rockwell Automation since 1985, is positioned to lead the company forward. Investors should note that Mr. Nosbusch will remain actively involved as Chairman and in supporting Mr. Moret's transition. Details regarding the specific compensation arrangements for both executives are pending determination by the Compensation Committee.
Key Highlights
- 1Keith D. Nosbusch to step down as President and CEO on July 1, 2016, remaining as Chairman.
- 2Blake D. Moret elected as the new President and CEO, effective July 1, 2016.
- 3Blake D. Moret has been with Rockwell Automation since 1985 and holds extensive leadership experience.
- 4Mr. Moret will also join the Board of Directors as part of the leadership transition.
- 5The Board of Directors has increased its size from ten to eleven members to accommodate Mr. Moret's directorship.
- 6Mr. Nosbusch will continue full-time employment as Chairman and will support the CEO transition.
- 7Specific compensatory arrangements for Mr. Nosbusch and Mr. Moret are to be determined by the Compensation Committee.