Business Context and Reporting Period
This Form 8-K filing by Emerson Electric Co. was submitted on February 5, 2010, reporting events that occurred on February 2, 2010. The filing focuses on executive leadership changes and associated compensatory arrangements.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margin, debt, or liquidity metrics. It is a current report regarding personnel changes rather than a financial results statement.
Material Changes
- Executive Promotion: Frank J. Dellaquila was promoted to Chief Financial Officer, succeeding Walter J. Galvin.
- Role Transition: Walter J. Galvin will remain with the company as Vice Chairman and Director.
- Continued Service: Mr. Dellaquila will continue to serve as Senior Vice President alongside his new CFO duties.
Compensation and Outlook
In connection with the promotion, Mr. Dellaquila's base salary was increased to $450,000. Additionally, he received an award of 20,000 performance share units under the 2010 performance shares program. These units are subject to performance targets over a four-year period ending at the end of Fiscal 2013. The filing does not contain specific guidance, risk factors, or management commentary regarding future financial performance.
Investor Verification Checklist
- Verify the terms of the 2010 performance shares program in the Company's proxy statement for the 2010 Annual Meeting of Stockholders.
- Confirm the effective date of Walter J. Galvin's transition to Vice Chairman.
- Review the attached press release (Exhibit 99.1) for additional context on the leadership transition.