The D. E. Shaw group, which has been an investor in Emerson Electric Co. (the "Company", "Emerson Electric," or "Emerson") (NYSE:EMR) for over four years, expressed its support for the changes announced today by the Company's Board of Directors (the "Board"). Following discussions with the D. E. Shaw group, Emerson Electric announced the appointment of Mark A. Blinn to its Board and commitments to improve its corporate governance policies.

Emerson Electric has also agreed to review its executive compensation program with the help of outside advisors in an effort to add a returns-focused metric to the Company's long-term incentive plan. The Board has also committed to amending its Charter to provide for one-year director terms, subject to requisite shareholder approval at the upcoming annual meeting of Emerson shareholders. Emerson will hire a leading proxy solicitation firm to assist with this effort.

The D. E. Shaw group is a global investment and technology development firm with more than $50 billion in investment and committed capital as of July 1, 2019, and offices in North America, Europe, and Asia. Since our founding in 1988, our firm has earned an international reputation for successful investing based on innovation, careful risk management, and the quality and depth of our staff. We have a significant presence in the world's capital markets, investing in a wide range of companies and financial instruments in both developed and developing economies.

This press release reflects the opinions of D. E. Shaw & Co., L.P. ("DESCO LP") on behalf of certain investment funds managed or advised by it that currently beneficially own, or otherwise have an economic interest in, shares of Emerson Electric Co. (the "Company"). This press release is for informational purposes only and does not constitute investment advice or convey an offer or solicitation of any type with respect to any securities or other financial products. The views expressed in this press release are expressed as of the date hereof and are based on publicly available information and DESCO LP's analyses. This press release contains statements reflecting DESCO LP's opinions and beliefs with respect to the Company and its business based on DESCO LP's research, analysis, and experience; all such statements are based on DESCO LP's opinion and belief, whether or not those statements are expressly so qualified. DESCO LP acknowledges that the Company may possess information that could lead the Company to disagree with DESCO LP's views and/or analyses. Nothing contained in this press release may be relied upon as a guarantee, promise, assurance, or representation as to future events. The investment funds managed or advised by DESCO LP are in the business of trading (i.e., buying and selling) securities, and it is expected that they will from time to time engage in transactions that result in changes to their beneficial and/or economic interest in the Company.