Lal Karsanbhai Appointed as Emerson CEO

Lal Karsanbhai Appointed as Emerson CEO

Emerson appointed Lal Karsanbhai, executive president of the company’s Automation Solutions business since 2018, as the CEO of the company.

Karsanbhai replaces David N. Farr, who retires on February 5.

The company said Karsanbhai has led Automation Solutions to strong performance, elevating Emerson’s software profile and digital transformation business.

Farr, who was named CEO in 2000 and chairman of Emerson’s board of directors in 2004, will remain as chairman through May 4. Over his two decades at the helm of the $16.8 billion global company, Farr has led Emerson through multiple strategic evolutions to grow the company’s global footprint, stay ahead of changing market conditions and advance the organization’s capabilities and competitiveness on the worldwide stage, added the company.

“David is a tremendous leader who has brought the company through difficult times – 9/11, the dot-com bubble, the Great Recession and now a global pandemic – with conviction and an unwavering belief in the strength of Emerson,” said Clemens A.H. Boersig, lead independent director of Emerson’s board. “Emerson has a long history of strong leaders in the corner office, with David being just the third CEO in the last 66 years. We wish him the best in his retirement and are grateful to have his expertise in the coming months as chairman of the board.”

Under Farr’s leadership, Emerson has transformed from a component manufacturing company to an industrial software leader with a singular purpose uniting nearly 85,000 employees: “We drive innovation that makes the world healthier, safer, smarter and more sustainable.” Farr built on the company’s longstanding disciplined management strategy, making it one of the few companies to increase its dividend to shareholders for 64 consecutive years.

Farr joined Emerson in 1981 in a corporate staff position and progressed through corporate and business unit management positions with increasing responsibility before being appointed president of Emerson’s Asia-Pacific operations in 1993. After four years in Hong Kong, Farr returned to the United States in 1997 to oversee Emerson’s process control business. He was  appointed chief operating officer in 1999, a position he held until being named CEO.

“I have had the opportunity to work alongside Lal during his 25-year career at Emerson and have observed his strengths and proven skill as a seasoned leader with a deep understanding of both business operations and the markets we serve,” Farr said. “The board of directors has been actively engaged throughout our five-year succession process, and we are confident Lal is well-positioned to continue building on Emerson’s legacy of success.”

Karsanbhai, who is currently a member of Emerson’s Office of the Chief Executive, leads a business with $11.2 billion in global sales in 2020. The Automation Solutions business offers advanced technologies, software and services to process, discrete and hybrid businesses in industries that include life sciences, power, energy, food and beverage, and water and wastewater.

“I am humbled by the Emerson board and David’s confidence in me,” Karsanbhai said. “This is an exciting time for the organization as we continue growing Emerson’s global software footprint and expanding the company’s support of essential industries. I am honored to carry the legacy of Emerson’s leadership into the future and look forward to working with the Office of the Chief Executive to drive these vital goals.”

Yokohama Rubber Recognised As Supplier Engagement Leader In CDP's 2024 Assessment

Yokohama Rubber Recognised As Supplier Engagement Leader In CDP's 2024 Assessment

Yokohama Rubber Co., Ltd. has been recognised as a Supplier Engagement Leader in CDP's 2024 assessment, achieving the highest rating for its efforts in collaborating with suppliers to address climate change.

CDP, a global environmental nonprofit, evaluates companies based on governance, targets, Scope 3 emissions, risk management and supplier engagement. This marks Yokohama Rubber’s third consecutive year and sixth overall time receiving top honours in CDP’s climate change evaluation.

Committed to achieving net-zero CO₂ emissions from its operations by 2050, the company has actively worked to reduce its environmental impact across the supply chain. Since 2013, it has disclosed Scope 3 emissions and implemented the Yokohama Green Procurement Guidelines to encourage sustainable material sourcing. Through annual CSR briefings, Yokohama Rubber engages suppliers in its carbon neutrality initiatives, fostering cooperation to lower emissions throughout the supply chain.

Hankook Tire Publishes 2024-25 ESG Report

Hankook Tire Publishes 2024-25 ESG Report

Hankook Tire has published its 16th annual ESG Report for 2024/25, detailing its sustainability achievements and future strategies aligned with its global ESG vision focused on Eco Value Chain, Sustainable Products and Responsible Engagement. The report adopts a comprehensive framework that evaluates social, environmental and financial impacts in line with the European Sustainability Reporting Standards (ESRS), emphasising enhanced biodiversity disclosures compliant with international guidelines like the TNFD.

Key focus areas include eight major management priorities such as climate action, resource efficiency, human rights and innovation. Hankook Tire is also strengthening its response to global ESG regulations, including the EU Deforestation Regulation (EUDR), through a dedicated committee overseeing natural rubber supply chain management.

To support sustainable growth, the company has an ESG Committee under its Board of Directors, operational since 2021. It is also driving circular economy initiatives, such as commercialising Korea’s first tyre using chemically recycled PET fibre and mass-producing EV tyres with 77 percent ISCC PLUS-certified sustainable materials.

Beyond environmental efforts, Hankook Tire engages in social initiatives, including biodiversity conservation, employee development and community partnerships. Its long-term commitment to sustainability dates back to 2009, with milestones like the 2018 sustainable rubber policy and the 2023 board performance evaluations to enhance governance transparency.

ZC Rubber Indonesia Launches First ATV Tyre

ZC Rubber Indonesia Launches First ATV Tyre

ZC Rubber has successfully commenced production of its first all-terrain vehicle (ATV) tyre at its Indonesian subsidiary, PT. Matahari Tire Indonesia (MTI), marking a strategic expansion into specialised mobility segments.

MTI’s state-of-the-art factory, covering 500,000 square metres, is strategically located in a region rich in natural rubber resources. Equipped with advanced digital technology and staffed by a highly skilled workforce, the facility is poised to meet the growing demand for high-quality tyres in both local and international markets, including the United States.

ZC Rubber’s investment in Indonesia provides access to vital raw materials and strengthens its global supply chain. The facility is poised to serve both local needs and support ZC Rubber’s international market expansion, reinforcing the company’s commitment to innovation, quality, and sustainable development.

Nexen Tire Posts Record Q2 Revenue Of $577 Million On Strong European, US Demand

Nexen Tire Posts Record Q2 Revenue Of $577 Million On Strong European, US Demand

South Korean tyre maker achieves second consecutive quarterly revenue record despite raw material pressures

South Korean tyre manufacturer NEXEN TIRE reported record quarterly revenue for the second consecutive period on Thursday, posting consolidated sales of 804.7 billion won in the second quarter as increased European production capacity and recovering US demand offset global automotive sector uncertainties.

The company’s operating profit reached 42.6 billion won in the three months to June, remaining stable from the previous quarter despite ongoing pressure from elevated raw material costs that began in late 2024.

The strong performance was primarily attributed to enhanced production following the completion of Phase 2 expansion at NEXEN TIRE’s Czech Republic facility, combined with targeted regional sales strategies that secured key supply volumes across both original equipment and replacement market segments.

US sales strengthened further in the second quarter, building momentum from the first-quarter recovery after experiencing a temporary decline in the latter half of 2024. Expanded retail distribution partnerships supported the improvement, the company said.

In the Asia-Pacific region, Australia and Japan delivered record sales volumes, driven by continued investment in distribution network development.

Ocean freight costs provided some margin relief, though the company continued to face headwinds from raw material price increases that began in late 2024. However, NEXEN TIRE expects improved profitability in the second half as key input costs have been trending downward since early 2025.

During the first six months of 2025, the tyre maker began supplying original equipment tyres for 11 vehicle models, including the Hyundai NEXO, Kia EV4 and TASMAN, whilst deepening partnerships with global automakers, including premium brands.

The company said it would implement gradual price adjustments in the US market in response to recent tariff policy changes, focusing on expanding high-margin products and strategically reallocating global supply volumes to mitigate profitability risks.

“Despite persistent macroeconomic challenges, NEXEN TIRE achieved record-breaking sales for two consecutive quarters by maintaining balanced growth across both OE and RE segments,” said Chief Executive John Bosco (Hyeon Suk) Kim. “We will continue to reinforce our global competitiveness through strategic partnerships and region-specific initiatives.”

NEXEN TIRE has been building brand awareness through localised marketing efforts across North America, Europe, the Middle East, and the Asia-Pacific regions whilst expanding its retail presence through strategic distributor partnerships.