02.01.21
Emerson CEO David N. Farr will retire on Feb. 5, the company announced.
Lal Karsanbhai, who has served as executive president of the company’s Automation Solutions business since 2018, will become the new CEO of Emerson and join the board of directors.
Farr, who was named CEO in 2000 and chairman of Emerson’s board of directors in 2004, will remain as chairman through May 4.
Over his two decades at the helm of the $16.8 billion global company, Farr has led Emerson through multiple strategic evolutions to grow the company’s global footprint, stay ahead of changing market conditions and advance the organization’s capabilities and competitiveness on the worldwide stage, the company said.
“David is a tremendous leader who has brought the company through difficult times – 9/11, the dot-com bubble, the Great Recession and now a global pandemic – with conviction and an unwavering belief in the strength of Emerson,” said Clemens A.H. Boersig, lead independent director of Emerson’s board. “Emerson has a long history of strong leaders in the corner office, with David being just the third CEO in the last 66 years. We wish him the best in his retirement and are grateful to have his expertise in the coming months as chairman of the board.”
Additionally, Farr served as chairman of the board of the National Association of Manufacturers from 2017 to 2019, working on Capitol Hill to advocate and advance initiatives that would build industry in the US, Emerson said.
Farr, who joined Emerson in 1981, serves on the board of directors for the US-China Business Council and has been a member of the board of directors of IBM since 2012.
“I have had the opportunity to work alongside Lal during his 25-year career at Emerson and have observed his strengths and proven skill as a seasoned leader with a deep understanding of both business operations and the markets we serve,” Farr said. “The board of directors has been actively engaged throughout our five-year succession process, and we are confident Lal is well-positioned to continue building on Emerson’s legacy of success.”
Karsanbhai, who is currently a member of Emerson’s Office of the Chief Executive, leads a business with $11.2 billion in global sales in 2020. The Automation Solutions business offers advanced technologies, software and services to process, discrete and hybrid businesses in industries that include life sciences, power, energy, food and beverage, and water and wastewater.
“I am humbled by the Emerson board and David’s confidence in me,” Karsanbhai said. “This is an exciting time for the organization as we continue growing Emerson’s global software footprint and expanding the company’s support of essential industries. I am honored to carry the legacy of Emerson’s leadership into the future and look forward to working with the Office of the Chief Executive to drive these vital goals.”
Karsanbhai began his career at Emerson in 1995 as an international planner. He was appointed director of corporate planning in 1999, served as VP of regulator technologies from 2002 to 2005, when he became VP and GM of natural gas for Emerson in France.
He was named president of Emerson’s Fisher regulator technologies in 2008, a role he held until 2012, when he became VP of planning with responsibility for Emerson’s global strategy. He was named president of Emerson’s former Network Power business in Europe, Middle East and Africa in 2014 and became group president of Emerson’s Rosemount measurement & analytical business in 2016.
Lal Karsanbhai
