Rockwell Automation Names New CEO
April 19 2016 - 8:20AM
Dow Jones News
Rockwell Automation said Tuesday that Blake Moret would replace
Keith Nosbusch as the company's chief executive officer, effective
July 1.
Mr. Nosbusch, 65 years old, will remain Rockwell Automation's
chairman. The 18-year veteran of the industrial-automation company
is retiring from the CEO role, which he has held since 2004, a
spokesman said.
Mr. Moret, 53 years old, joined Rockwell Automantion 30 years
ago and has most recently served as senior vice president of the
company's control products and solutions segment.
Donald Parfet, lead director of the company's board, said
Rockwell is "pleased that he has agreed to stay on as chairman so
that the company can continue to benefit from his experience and
support Blake's transition to CEO."
Mr. Nosbusch praised Mr. Moret's ability "to move Rockwell
Automation forward in its next chapter."
The Milwaukee-based company provides industrial automation and
information services for manufacturers and energy producers, and
like many companies across the sector it has been under pressure
from the stronger U.S. dollar and energy-price rout. Mr. Nosbusch
said earlier this year that global demand had softened, but that
pockets of strength in areas such as Latin America remained.
Last year, Rockwell Automation posted $6.40 in adjusted
per-share earnings, up from $6.17 a year earlier.
Over the past 12 months, shares in the company have risen 4%.
The stock was inactive premarket Tuesday.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
(END) Dow Jones Newswires
April 19, 2016 08:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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