David N. Farr was the CEO of Emerson Electric Co. until February 2021, a company known for automation and control solutions. Under his leadership, Farr tied his pay to company performance, making sure his bonuses reflected how well Emerson was...
David N. Farr was the CEO of Emerson Electric Co. until February 2021, a company known for automation and control solutions. Under his leadership, Farr tied his pay to company performance, making sure his bonuses reflected how well Emerson was doing. For instance, in 2018, he earned $15.6 million, with a big part coming from a $2.7 million bonus linked to earnings growth. A notable moment came in 2014 when he made over $16 million from performance shares, showing he focused on long-term success. After retiring, he signed a consulting agreement that paid him $117,000 each month to help the company. This shows he still cared about Emerson’s future even after stepping down. Farr's strategic decisions, including key acquisitions, helped shape the company. Even after retiring, he kept strong ties with Emerson, demonstrating loyalty and a commitment to the company's vision. His career shows how aligning pay with performance can lead to substantial financial rewards while driving company growth.