Emerson (NYSE: EMR), a global automation technology and industrial software leader, announced that Lal Karsanbhai, who has served as executive president of the company’s Automation Solutions business since 2018, will step in as the company’s new chief executive officer as David N. Farr retired on February 5, 2021. Karsanbhai, who has led the Automation Solutions to strong performance, elevating Emerson’s software profile and digital transformation business will also 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 USD16.8 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.
Under Farr’s leadership, Emerson has transformed from a component manufacturing company to an industrial software leader with a singular purpose uniting nearly 85,000 employees: “We drive innovation that makes the world healthier, safer, smarter and more sustainable.” Farr built on the company’s longstanding disciplined management strategy, making it one of the few companies to increase its dividend to shareholders for 64 consecutive years.
“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 USD 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 vice president of regulator technologies from 2002 to 2005, when he became vice president and general manager 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 vice president 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.
During his tenure at Emerson, Karsanbhai has worked in Europe, Africa and North America. He is fluent in Portuguese, French and English. Karsanbhai has a bachelor’s degree in economics from the University of Michigan and a master’s degree in business administration from Washington University in St. Louis.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Our Emerson Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure.