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Date: 2013-08-01

CalPERS Names Emerson Electric to 2004 Focus List


The California Public Employees' Retirement System (CalPERS) has named Emerson Electric Co. as one of four companies on its 2004 Focus List. Emerson's overall 2003 sales topped USD $14 billion.

CalPERS, with over $160 billion in assets, is the largest, most influential and outspoken pension fund in the United States. The fund's management said it named the four in order to publicly pressure them to substantially reform corporate governance and/or finance issues.

Emerson is home to four well-known bearing manufacturing operations -- Browning, Sealmaster, Rollway and McGill -- in its Industrial Automation - Emerson Power Transmission division.

The bearing companies produce mounted ball and roller bearings, rod end and spherical bearings, cam followers, needle roller and spherical roller bearings, along with cylindrical radial, cylindrical thrust and steel cage journal bearings.

CalPERS said, "Emerson Electric was placed on the list because of its board structure and the excessive retirement package of its Chairman." It is also, "dissatisfied with the Company


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