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MarketScreener Homepage  >  Equities  >  Nyse  >  Emerson Electric    EMR

EMERSON ELECTRIC (EMR)
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Emerson : Announces Retirement of Ed Purvis, Chief Operating Officer; Steve Pelch Appointed to Role

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11/10/2017 | 12:34am CEST

Emerson (NYSE: EMR) today announced the retirement of Chief Operating Officer (COO) Ed Purvis after 34 years with the company. His retirement is effective December 31, 2017. Steve Pelch, currently executive vice president of organization planning and development, will succeed Purvis as executive vice president and COO of the company, effective January 1, 2018.

Purvis, who began his career with Emerson in 1983 as a product planner with Copeland Corporation, quickly took on numerous roles of increasing responsibility. Prior to being named COO in 2015, he served nearly seven years as executive vice president and business leader of Emerson Climate Technologies, now Emerson Commercial and Residential Solutions.

“I want to thank Ed for his outstanding leadership, dedication and friendship over the years,” said Chairman and Chief Executive Officer David N. Farr. “He has played a vital role in helping Emerson become the company it is today – the organization would not be the same without his leadership and unwavering dedication to delivering the best to our customers. He played an important role in our successful repositioning efforts during the last three years. I wish him well in his retirement.

Farr added: “I would also like to congratulate Steve on his new role. He began his career as an applications engineer in our Automation Solutions business and then spent 17 years in a variety of business unit leadership roles across the U.S. and in Asia. For the last 13 years, he has held corporate roles in strategic planning, human resources and organizational planning and development. I have full confidence that he is well-equipped for the job and I know firsthand his steadfast commitment to making Emerson its best. I look forward to continuing to work with him as we grow this company.”

Pelch holds a bachelor’s degree in Mechanical Engineering from the University of Missouri and an MBA from the University of South Carolina.

About Emerson

Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. Our Emerson Automation Solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Our Emerson Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. For more information visit Emerson.com.


© Business Wire 2017
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Financials ($)
Sales 2018 17 390 M
EBIT 2018 2 955 M
Net income 2018 2 139 M
Debt 2018 3 317 M
Yield 2018 2,71%
P/E ratio 2018 21,44
P/E ratio 2019 19,37
EV / Sales 2018 2,78x
EV / Sales 2019 2,51x
Capitalization 45 074 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 78,4 $
Spread / Average Target 9,3%
EPS Revisions
Managers
NameTitle
David N. Farr Chairman & Chief Executive Officer
Michael H. Train President
Steven J. Pelch Chief Operating Officer & Executive Vice President
Frank J. Dellaquila Chief Financial Officer & Senior Executive VP
Jake Fritz Chief Information Officer & Vice President
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