Global engineering and technology company Emerson has announced Lal Karsanbhai, current Executive Vice-President of Automation Solutions, as its new CEO, effective 5th February (2021).
Announced today (1st Feb), Karsanbhai’s promotion is the result of David Farr’s, Emerson’s current CEO, decision to retire after two decades with the company.
Farr, who was named CEO in 2000 and Chairman of Emerson’s Board of Directors in 2004, will remain as chairman until 4th May (2021).
“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 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.”
Farr joined Emerson in 1981 in a corporate staff position and progressed through corporate and business unit management positions with increasing responsibility before being appointed president of Emerson’s Asia-Pacific operations in 1993.
After four years in Hong Kong, Farr returned to the US in 1997 to oversee Emerson’s process control business. He was appointed chief operating officer in 1999, a position he held until being named CEO.
Commenting on Karsanbhai’s appointment, Farr, said, “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.”
“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 (pictured left) will now also join the Board as a result his role change within the company. “I am humbled by the Emerson board and David’s confidence in me,” he commented.
“This is an exciting time for the organisation as we continue growing Emerson’s global software footprint and expanding the company’s support of essential industries. I am honoured 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.”