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EMERSON ELECTRIC CO.

(EMR)
  Report
Delayed Nyse  -  04:03:39 2023-01-30 pm EST
89.69 USD   +0.29%
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Peter Zornio Named Chief Technology Officer | Emerson US

11/30/2022 | 05:47am EST

ST. LOUIS -- Emerson (NYSE: EMR), a global technology, software and automation leader, has appointed Peter Zornio as chief technology officer. Zornio, who previously served as chief technology officer for Emerson's Automation Solutions business, will lead innovation strategy, overall product roadmap, technology and portfolio direction, central R&D functions, and industry standards across Emerson. He also joins Emerson's Office of the Chief Executive, which helps develop and guide the company's global business strategies.

"As we continue to re-imagine Emerson and how we support our customers, our people and the world, building upon our innovation engine is key to achieving the next step of our transformation as a global automation leader with the most comprehensive portfolio of technologies," said Emerson President and CEO Lal Karsanbhai. "Peter is both an expert in the field and a trusted, respected leader at Emerson. Through his extensive automation experience, deep understanding of Emerson's path forward and innovative product development, planning and portfolio management approach, Peter will play a critical role in accelerating our business' continued momentum."

In past roles at Emerson, Zornio served on the executive management team of Emerson's Automation Solutions business and led development for Emerson's comprehensive automation systems and software portfolio, including the company's Plantweb digital ecosystem and Industrial Internet of Things solutions and strategies, as well Automation Solution's marketing team. Prior to joining Emerson in 2006, he held a variety of product and industry marketing, project implementation and technology roles at Honeywell.

"Emerson is a company built on and driven by innovation - it's engrained in our rich history and brought to life each day through our evolution and ongoing transformation," Zornio said. "As we continue to envision the future of industrial automation and digital transformation, by building upon our market-leading technology and software portfolio, we have an opportunity to chart a new path and fundamentally revolutionize industrial operations even more than we already have. I'm looking forward to helping drive this effort forward with Lal, the Board and the entire organization."

Zornio will continue to serve on the board of directors of Emerson Ventures, the company's corporate venture capital arm. He is an active member of Emerson's Somos Employee Resource Group, which focuses on support and engagement initiatives on behalf of the company's Hispanic and Latin American employees.

Outside of Emerson, Zornio is a member of the Forbes Technology Council, a group of C-suite technology leaders who share their deep knowledge and diverse experience in the industry, and serves on the board of directors of FieldComm Group, an industry nonprofit consortium that manages standards in the automation industry.

Zornio is based in Austin, Texas, and holds a bachelor's degree in chemical engineering from the University of New Hampshire.

About Emerson

Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals. For more information, visit Emerson.com.

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(C) 2022 M2 COMMUNICATIONS, source M2 PressWIRE

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Analyst Recommendations on EMERSON ELECTRIC CO.
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Financials (USD)
Sales 2023 14 996 M - -
Net income 2023 2 050 M - -
Net cash 2023 965 M - -
P/E ratio 2023 25,3x
Yield 2023 2,34%
Capitalization 52 889 M 52 889 M -
EV / Sales 2023 3,46x
EV / Sales 2024 3,24x
Nbr of Employees 85 500
Free-Float 61,6%
Chart EMERSON ELECTRIC CO.
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Technical analysis trends EMERSON ELECTRIC CO.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 89,43 $
Average target price 103,16 $
Spread / Average Target 15,3%
EPS Revisions
Managers and Directors
Surendralal L Karsanbhai President, Chief Executive Officer & Director
Frank J. Dellaquila Chief Financial Officer & Senior Executive VP
James S. Turley Chairman
Jake Fritz Chief Information Officer & Vice President
Peter Zornio Chief Technology Officer
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