ABB Group
CEO Ulrich Spiesshofer steps down
ABB announced today 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.
Ulrich Spiesshofer was at the helm of the ABB Group for six years.
© ABBABB has made no official statement on the reasons for Ulrich Spiesshofer's resignation. On Twitter, the long-serving ABB CEO merely posted 'it's time to say goodbye' and in the press release he is quoted as saying: "I will now take 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." The new interim CEO Peter Voser expressed his gratitude for Spiesshofer's achievements to date: "On behalf of the Board of Directors and the employees of ABB, I would like to personally thank Ulrich for his dedication and commitment to ABB's customers and employees, not only as CEO, but also as a leader in other ABB management positions since 2005. 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 proceed with the sale of ABB's Power Grids business as planned, simplify the Group's corporate structure and achieve the announced cost savings."
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 to 2009. From 2002 to October 2004, he was CFO of ABB and one of the key figures responsible for the company's economic upturn. Mr. Voser also has extensive experience in board positions at companies such as Roche, IBM, Catalyst, Temasek Holdings and PSA International in Singapore.
ABB will hold its Annual General Meeting in Zurich on May 2, 2019 as planned.
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