ST. LOUIS – January 28, 2008 - Institutional Investor magazine has named David N. Farr, chairman, CEO and president of Emerson, one of "The Best CEOs in America." Farr was named the top CEO in the electrical equipment and multi-industry category.
“Tough times require strong leadership,” the magazine said on its website in announcing its rankings. “With the U.S. economy facing serious headwinds and possibly headed for recession, outstanding CEOs will become more important than ever to the success of their companies.”
In the magazine’s January issue, Institutional Investor credited Farr with “positioning his company to withstand more difficult times ahead,” noting that while leading the company through difficult restructuring earlier in the decade, Farr maintained important investments in technology and innovation. He was also credited with helping position Emerson for strong global growth that, in fiscal year 2007, resulted in 52 percent of the company’s sales occurring outside the U.S., compared with 40 percent when Farr took over in 2000.
Farr has served as CEO of Emerson since October 2000 and was named chairman in September 2004. He is only the third chief executive of Emerson in the past 50-plus years. He assumed the title of company president in November 2005.
Under Farr's leadership, Emerson has grown its position in global markets, increased its focus on customer-oriented services and solutions, and invested in industry-leading technologies to enhance its long-term growth and market position. With his management team, Farr has kept the company focused on creating long-term value and maintaining Emerson's solid financial performance relative to growth in sales, earnings, cash flow, and return on capital.
To develop its list of the best CEOs, Institutional Investor surveyed more than 900 analysts, portfolio managers and investment professionals from 425 leading institutions. Survey participants cast their votes, ranking their top choices by first, second and third; the magazine then scored each vote by weight, with first place votes counting more
About Emerson
Emerson (NYSE: EMR), based in St. Louis, is a global leader in bringing technology and engineering together to provide innovative solutions to customers through its network power, process management, industrial automation, climate technologies, and appliance and tools businesses. Sales in fiscal 2007 were $22.6 billion.
