Business Context and Reporting Period
This Form 8-K filing by Emerson Electric Co. reports corporate governance changes effective October 4, 2016. The filing addresses amendments to the Company's Bylaws and Corporate Governance Principles and Practices.
Financial Metrics
This filing does not contain financial performance data. There are no reported values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Bylaw Amendment: The Board amended Article III, Section 3 of the Bylaws to allow Admiral Joseph W. Prueher to serve an additional one-year term, overriding the previous age limit of 72 for director elections.
- Governance Principles Amendment: The Board amended Corporate Governance Principles to establish the role of a Lead Independent Director with a three-year term.
- Director Election: Randall L. Stephenson was elected as the Company's first Lead Independent Director.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, management commentary on operations, or discussion of risks and contingencies. The document focuses exclusively on structural governance updates.
Key Facts for Investor Verification
- Admiral Joseph W. Prueher's tenure on the Board is extended through the Annual Meeting of Stockholders in February 2018.
- Randall L. Stephenson has been appointed Lead Independent Director with specific authority to preside at meetings and act as a liaison with the Chairman.
- Full text of the amended Bylaws and Governance Principles is available as Exhibits 3.1 and 3.2 or on the Company's investor website.