St. Louis, Missouri-based manufacturing corporation Emerson announced today that its CEO, David Farr, would step down effective Friday, February 5. Farr, who has served as CEO of the company since 2000, will remain at the company as chairman of the board through May 4. Lal Karsanbhai, president of Emerson’s automation business since 2018, will succeed him as CEO.
Farr’s career at Emerson began in 1981 at a corporate staff position before attaining presidency of the company’s Asia-Pacific operations in 1993. He went on to oversee Emerson’s process control business in 1997 and then became chief operating officer in 1999. He served as chairman of the board of the National Association of Manufacturers from 2017 to 2019 and is a current board member of IBM and the US-China Business Council.
Emerson’s lead independent director of the Board, Clemens Boersig, called Farr a “strong leader” and credited him for leading the company through hard times—“9/11, the dot-com bubble, the Great Recession and now a global pandemic”—with assurance in the company’s long-term strength.
“We wish him the best in his retirement and are grateful to have his expertise in the coming months as chairman of the board,” said Boersig.
Lal Karsanbhai will succeed Farr at the helm of the company at the end of this week. Karsanbhai began at Emerson in 1995 as an international planner, moved on to director of corporate planning, and eventually served as president of Emerson’s Fisher regulator and Rosemount analytical businesses. His tenure with the company has taken him through jobs in Europe, Africa and North America, and according to Emerson he is fluent in Portuguese, French, and English.
Most recently, according to Emerson, the Automation Solutions business Karsabhai currently leads pulled in $11.2 billion in global sales last year.
“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,” said Farr.
Karsanbhai, in a statement, said he was “humbled” by the board’s selection and Farr’s statement of confidence. “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,” he said.
