Rockwell Automation will have a new chief executive officer for the first time since 2004 as Keith Nosbusch will be replaced by Blake Moret in July.
The Milwaukee-based industrial automation company announced the leadership change this morning. Nosbusch, 65, will step down from the roles of CEO and president, but will will continue as chairman of the board. He is also staying on as a full-time employee to help with the transition.
“It has been an honor and privilege to lead Rockwell Automation over the past 12 years,” Nosbusch said. “While as a team we enjoyed tremendous success, I have no doubt that we are well positioned for an even greater future.”
The board voted Monday to select Moret, the company’s senior vice president for control products and solutions, to replace Nosbusch. Moret, 53, joined the company in 1985 and has served in a number of roles. He was named vice president for customer support and maintenance in 2007 and was elected to his current role in 2011.
“I am honored to have the opportunity to lead Rockwell Automation and its talented employees into an exciting future,” Moret said. “We have a deep management team, unmatched technology solutions, domain expertise across a broad range of industries, and enduring customer relationships around the world.”
Donald Parfet, Rockwell’s lead director said the leadership change was “the conclusion of a deliberate and planned succession process.”
The board’s compensation committee will set compensation for Moret before he starts his new role July 1. Nosbusch received a base salary of $1.2 million in 2015 and total compensation of $8.6 million. Moret received a $594,000 salary and total compensation of $2.96 million.
