Business Context and Reporting Period
This Form 8-K filing by Emerson Electric Co. is dated January 10, 2018. The report addresses a leadership transition within the company's finance department, specifically the departure of the Chief Accounting Officer and the appointment of a successor.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on personnel changes.
Material Changes
- Departure: Richard J. Schlueter informed the company on January 10, 2018, of his intent to retire effective March 31, 2018. He will resign as Chief Accounting Officer effective February 6, 2018, to facilitate an orderly transition.
- Appointment: Michael J. Baughman, 52, was appointed as the new Chief Accounting Officer effective February 6, 2018.
- Background: Mr. Baughman joined Emerson in October 2017 as Vice President and Controller. Previously, he held various finance leadership roles at Baxter International Inc. from 2005 through September 2017.
- Compensation: Mr. Baughman received no additional compensation in connection with this appointment.
Guidance, Outlook, and Risks
The filing includes standard forward-looking and cautionary statements. It notes that non-historical statements involve risks and uncertainties, including economic and currency conditions, market demand, pricing, intellectual property protection, and competitive factors. The company disclaims any obligation to update these statements.
Investor Verification Checklist
- Verify the effective date of the Chief Accounting Officer transition (February 6, 2018).
- Confirm the retirement timeline for the outgoing officer (March 31, 2018).
- Review the professional background of the incoming Chief Accounting Officer, Michael J. Baughman.
- Note that no financial results or guidance are included in this specific filing.