ABB’s New CEO Takes the Reins

 Ulrich Spiesshofer has succeeded Joe Hogan as chief executive officer of ABB, the leading power and automation technology group, following the three-month orderly transition period announced earlier this year. Hogan will continue as advisor to the Board until the end of March 2014.

In a welcoming statement, Hubertus von Grünberg, Chairman of ABB’s Board of Directors, said: "Ulrich Spiesshofer has an outstanding track record forming and developing high performing teams and has demonstrated excellent strategy and execution skills.” He added that Spiesshofer enjoys the full support of the entire Board. “We look forward to a close cooperation with Ulrich to further develop ABB's power and automation business under his leadership.”

"I look forward to working with ABB’s strong team to deliver continued profitable growth against our strategy and create long-term value for our customers, employees and shareholders," Spiesshofer said. “In these challenging economic times, we will focus as a team relentlessly on customer satisfaction, quality and execution.”