Rockwell Automation Names New CEO

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 [e-mail]

(END) Dow Jones Newswires

April 19, 2016 08:05 ET (12:05 GMT)

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