Emerson Electric ( EMR) said President James G. Berges will retire Nov. 1 after nearly 30 years with the company in order to pursue personal interests.

The St. Louis-based company, which makes motors, climate-control systems and other electric products, said Berges, 58, took his current position in 1999.

Chairman and CEO David N. Farr will take on the additional title of president, and Berges' duties will be divided among senior management. Berges joined Emerson in 1976.

Shares of Emerson were down 70 cents, or 1%, to $69.22.

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