Management
ABB CEO Spiesshofer resigns
ABB has announced that CEO Ulrich Spiesshofer (55) is stepping down from the position he has held since 2013. The Chairman of the Board of Directors, Peter Voser (61), will also assume the position of interim CEO with immediate effect.
The company did not provide any information about the reasons for Spiesshofer's departure. According to the press release, Spiesshofer merely stated that he would now be taking some time out "before deciding on the next chapter of my professional life. I sincerely wish the ABB team around the world all the best for the future."
Peter Voser thanked him for his commitment and added: "Under his leadership, ABB has evolved into a global technology leader with a clear focus on digital industries. He has strategically realigned the company and built growth momentum in all business areas. We wish him all the best for his personal and professional future."
Voser added: "We will continue to focus on executing ABB's strategy and creating value for all our stakeholders. To achieve our financial targets, we will move forward with the sale of ABB's power grids business as planned, simplify the Group's corporate structure and achieve the announced cost savings. Our four new leading businesses will be fully focused on meeting the needs of our customers in the areas of digitalization, electrification, automation and robotics."
Peter Voser, a Swiss citizen, has been Chairman of the Board of Directors of ABB since April 2015. Prior to that, he was CEO of Royal Dutch Shell from 2009-2013 and CFO of the company from 2004-2009. From 2002 to October 2004, he was CFO of ABB and one of the key figures responsible for the company's economic upturn. Voser also has extensive experience in board positions at leading companies such as Roche, IBM, Catalyst, Temasek Holdings and PSA International in Singapore.
ABB will hold its Annual General Meeting on May 2, 2019 in Zurich as planned, the Group also announced. as
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