Geek Of The Week: David Farr, CEO Of Emerson
Emerson Electric Co. is a diversified global manufacturing company, which provides solutions to customers by bringing technology and engineering together in the industrial, commercial and consumer markets around the world.
Founded in in 1890, the company is currently headed by David Farr who doubles as both the chairman and CEO of the organization. He started serving in the year 2000 and remains the CEO till date.
Under his leadership, the organization has recorded a number of developments, they include;
- On July 26, 2011, Emerson announced it would locate its Latin America headquarters in Sunrise, Florida.
- On December 1, 2016, Platinum Equity acquired Emerson Network Power business unit and rebranded it Vertiv. The acquisition included the brands: Asco, Chloride, Liebert, Netsure, and Trellis. In July 2018, Emerson completed the purchase of Textron Tools and Test Businesses for $810 million (Including Greenlee, Klauke, HD Electric and Sherman + Reilly).
Since becoming CEO in 2000, Farr has put a priority on creating long-term value for shareholders and investing for long-term growth while maintaining the company’s solid financial performance relative to earnings, cash flow and return on capital. Emerson is one of a handful of companies with 63 consecutive years or more of increasing dividends to its shareholders.
Farr has been active in
a wide range of civic and charitable organizations in St. Louis. He is a member
and past president of Civic Progress, an organization of chief executives from
leading companies in St. Louis who work together to promote the region. He
currently serves on the executive board of the Municipal Theatre Association of
St. Louis (The Muny at Forest Park). He has served stints on the boards of
directors for several non-profits and educational institutions, including the
United Way of Greater St. Louis. In recognition of his community leadership and
charitable activities, Farr was named St. Louis Citizen of the Year in 2011 and
was recognized by the Marine Corps Scholarship Foundation with the Semper
Fidelis Award in 2012.
Farr received a
bachelor’s degree in chemistry from Wake Forest University and a master’s
degree in business administration from Vanderbilt University.
According to David Farr, “we’re very, very much focused on driving value for our shareholders through specific margin improvement, the cash flow, and we’re very much focused on driving cash and paying back more money to our shareholders in 2020”.
