EAS chief Karsanbhai takes over as David Farr steps down from helm at Emerson
3 Feb 2021
CEO of Emerson David Farr is to step down this week after two decades at the head of the global technology and industrial software giant.
He will be succeeded on 5 Febuary by Lal Karsanbhai, executive president of Emerson Automation Solutions since 2018, who also joins the board of directors.
Clemens A.H. Boersig, lead independent director of Emerson’s board led the tributes to Farr, commenting:
“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.”
Farr remains as chairman until 4 May. He has held the position since 2004, four years after his appointment as CEO.
Since taking the helm at the turn of the millennium, Farr has built Emerson into a US$16.8 billion global company.
He transformed it from a components manufacturing company into an industrial software leader with nearly 85,000 employees under the environmentally-conscious slogan ‘We drive innovation that makes the world healthier, safer, smarter and more sustainable’.
Emerson boasts it is one of few companies to increase its dividend to shareholders for 64 consecutive years.
Farr also played a key influence as chairman of the board of the National Association of Manufacturers from 2017 to 2019, working on Capitol Hill. He also 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.
He joined Emerson in 1981 before being appointed president of Emerson’s Asia-Pacific operations in 1993, returning to the USA in 1997 to oversee Emerson’s process control business. He was appointed chief operating officer in 1999, prior to appointment as CEO.
Photo:Outgoing Emerson CEO David Farr (left) and successor Lal Karsanbhai (right)