Sun, May 19, 2024

Stock Report: ABB Names a New CEO

Wibest – Stock Report: Sign of ABB

Earlier, the board for ABB, which develops electrification, automation, robotics, and motion product lines, has appointed Björn Rosengren as its new CEO.

It was announced by the Swiss engineering and technology company on Sunday in a stock report.

Next year in February, he will join the company before succeeding interim CEO Peter Voser in March.

Rosengren’s career to date has comprised management roles at industrial tool manufacturer Atlas Copco and a four-year period as CEO of Wartsila.

The company he’d been to services power sources and equipment for the marine and energy markets.

He has been president and CEO of Sandvik most recently. It is an engineer’s tooling systems company for the mining and construction industries. He has been serving there since 2015.

Effective Mar. 1, 2020, Voser will return to serving ABB exclusively as chair of its board. In April, he was named interim CEO when Ulrich Spiesshofer stepped down.

Ever since Ulrich Spiesshofer’s sudden departure in April, Voser has held the role in an interim capacity.

Rosengren’s Presidency Will Be Leading ABB

Voser will uphold the presidency until Rosengren accepts his role in March 2020.

Voser stated, “the board is pleased Björn Rosengren will be taking the lead.”

He also added, “bringing with him a proven track record and exactly the managerial skills ABB needs during the next stage of its transformation.”

Meanwhile, Sandvik’s board met to initiate the work to appoint a new president and CEO.

Rosengren said, “I am honored to have the opportunity to join ABB after I have completed my current commitments.”

In addition, he said, “I will continue to lead Sandvik until the end of January.”

In a tweet, Voser also indicated, “as my successor as CEO, Bjorn Rosengren is the ideal candidate to take ABB forward, together with our strong team on the Executive Committee.”

He further stated, “He understands how to empower people to perform and create long-term value.”

To end, in a news report, Voser indicated Rosengren has committed to a minimum of five years as CEO of ABB.

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