David Nelson Farr is the Chairman & CEO of Emerson Electric Company

Emerson Electric Company

Emerson Electric Company is a major multinational corporation headquartered in Ferguson, Missouri, United States. This Fortune 500 company manufactures products and provides engineering services for a wide range of industrial, commercial, and consumer markets.Emerson is one of the largest...

, a Fortune 500 company. Mr. Farr has worked at the company since 1981. He is married with two children and is a resident of Ladue, Missouri

Missouri

Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...

.

On 25 Oct 2011, IBM

IBM

International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...

 announced Mr. Farr is elected to its Board of Directors. It will take effect on January 1, 2012.

Education

David went to Wake Forest University

Wake Forest University

Wake Forest University is a private, coeducational university in the U.S. state of North Carolina, founded in 1834. The university received its name from its original location in Wake Forest, north of Raleigh, North Carolina, the state capital. The Reynolda Campus, the university's main campus, is...

 and graduated with a degree in chemistry in 1977. He went on to earn an MBA from the Owen Graduate School of Management

Owen Graduate School of Management

The Owen Graduate School of Management is the graduate business school of Vanderbilt University in Nashville, Tennessee. Founded in 1969, Owen awards six degrees: a standard 2-year Master of Business Administration , an Executive MBA, a master's of finance, a master's of accountancy, a HealthCare...

 at Vanderbilt University

Vanderbilt University

Vanderbilt University is a private research university located in Nashville, Tennessee, United States. Founded in 1873, the university is named for shipping and rail magnate "Commodore" Cornelius Vanderbilt, who provided Vanderbilt its initial $1 million endowment despite having never been to the...

 in 1981.

Career

Mr. Farr began his career at Emerson more than 25 years ago. He held various positions upon his initial employment including manager of investor relations, vice president of corporate planning and development, president of the Ridge Tool division and group vice president for the industrial components and equipment business. He ascended the corporate ladder serving as president of Emerson Electric Asia-Pacific and then chief executive officer of Emerson's Astec joint venture Astec(BSR) PLC

Birmingham Sound Reproducers

Birmingham Sound Reproducers was a British manufacturer of record player turntables.Daniel McLean McDonald founded Birmingham Sound Reproducers as a private company in 1932 in the West Midlands of England, UK...

. He eventually became a senior executive vice president and chief operating officer in 1999. He was eventually named CEO in October 2000 succeeding Charles F. Knight

Charles F. Knight

Charles F. Knight is chairman emeritus of Emerson Electric Co., a manufacturer of electrical, electromechanical and electronic products and systems. He served as chairman of Emerson Electric from 1974 to 2004 and as chief executive officer from 1973 to 2000. He also served as president from 1986 to...

 who had held the position for the previous 27 years. Additionally Mr. Farr was elected chairman of the board of Emerson in 2004. Mr. Farr currently serves on the board of directors for the Delphi Corporation, the United Way of Greater St. Louis and is a member of The Business Council.

Compensation

While CEO of Emerson Electric in 2009, David N. Farr earned a total compensation of $6,899,987, which included a base salary of $1,168,750, a cash bonus of $1,500,000, stock granted of $3,735,000, and other compensation totaling $496,237.

Awards and recognition

Mr. Farr was the 2007 campaign chair for the United Way of Greater St. Louis, leading the community to raise a record-breaking $68.8 million to help people in the 16-county region of metro St. Louis. He was also named one of the Top 25 Managers in 2000. Emerson has been awarded as well under Farr's management having been named one of the 100 Best Corporate Citizens in 2004. Institutional Investor magazine

Institutional Investor (magazine)

Institutional Investor magazine is a monthly periodical published by Euromoney Institutional Investor. A separate international edition of the magazine was established in 1976 for readers in Europe and Asia. Capital Cities Communications purchased the magazine in 1984...

named David Farr, CEO of Emerson EMR, one of The Best CEOs in America in the electrical equipment and multi-industry in 2008.

Mr. Farr has aggressively moved Emerson production and design operations to low-cost, low-regulation environments outside the United States, particularly the People's Republic of China. Under Mr. Farr's leadership, Emerson laid off 14% of its U.S. workforce in 2009, eliminating nearly 20,000 jobs. While speaking at the Baird Industrial Outlook Conference in Chicago, in November 2009, Mr. Farr attacked the Obama administration for its attention to "labor rules" and "health reform", and stated: "What do you think I'm going to do? I'm not going to hire anyone in the United States. I'm moving."