ABB names Ulrich Spiesshofer as CEO
18 June 2013
The Board of ABB has unanimously appointed Ulrich Spiesshofer, the head of its Discrete Automation and Motion (DM) division, as chief executive officer.
He will succeed Joe Hogan in this role on September 15, after which, Hogan will continue with ABB for some months as senior advisor to the Board.
Spiesshofer joined ABB’s executive committee in 2005 and was named responsible for DM in 2009. He has led a doubling of the division’s revenues by organic and inorganic means, and the integration of Baldor. He has increased profit margins through a turnaround in robotics, as well as the profitable growth and relentless execution of the motors and drives activities.
“ABB has developed a strong bench of talent: I am extremely pleased that the new CEO comes from within the company, and brings a solid track record and deep knowledge of the portfolio,” said ABB Chairman Hubertus von Grünberg. “Ulrich has been a key force in shaping and implementing ABB’s strategy, and the integration of Baldor stands out as a benchmark for successful large acquisitions.”
Spiesshofer initiated other business expansion activities in DM based on organic growth and acquisitions. These helped the division to grow faster than the market and expand into new business areas such as e-mobility and UP), as well as to better balance the business geographically.
Current CEO Joe Hogan said: “Ulrich has done a tremendous job in DM based on the solid knowledge and experience acquired in many successful years within ABB and outside. With his strong contribution and team-oriented collaboration, our mid-term strategy has been making great progress.”
“I am excited about the opportunity to lead ABB and serve our customers, building on Joe’s success,” said Spiesshofer. “I am looking forward to keep working with all my colleagues in the executive committee and the entire ABB team. Together, we will continue to drive profitable growth and relentless execution for the company.”
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