November 5, 2019 / 12:15 PM / in 4 months

Emerson Electric names Mark Blinn to its board

Nov 5 (Reuters) - Emerson Electric Co said on Tuesday it named Mark Blinn, former chief executive officer of industrial pumps and valves supplier Flowserve Corp, to its board of directors.

The U.S. factory automation equipment maker is under pressure from hedge fund D.E. Shaw to break up the company.

The New York-based hedge fund, which owns a more than 1% stake in the Ferguson, Missouri-based company, wants Emerson to split into two businesses - the industrial automation business and the climate technology-focused unit.

The hedge fund has said the move could unlock more than $20 billion worth of shareholder value.

Reporting by Ankit Ajmera in Bengaluru; Editing by Bernard Orr

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below