Emerson announced chief executive officer David N. Farr will retire on February 5, 2021. Lal Karsanbhai, who has served as executive president of the company’s Automation Solutions business since 2018, will become the new CEO of Emerson and join the board of directors. Karsanbhai has led Automation Solutions to strong performance, elevating Emerson’s software profile and digital transformation business.
Farr, who was named CEO in 2000 and chairman of Emerson’s board of directors in 2004, will remain as chairman until May 4,2021. Over his two decades at the helm of the $16.8 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 organisation’s capabilities and competitiveness on the worldwide stage. Under Farr’s leadership, Emerson has transformed from a components manufacturing company to an industrial software leader.
Karsanbhai, who is currently a member of Emerson’s Office of the Chief Executive, leads a business with $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. “This is an exciting time for the organisation as we continue growing Emerson’s global software footprint and expanding the company’s support of essential industries. I am honoured 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 says
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.