ABB has appointed Ulrich Spiesshofer (in photo), head of its Discrete Automation and Motion (DM) division, as CEO, where he will succeed Joe Hogan beginning September 15, 2013. Hogan will continue with ABB for some months as senior advisor to the board, said the company. Spiesshofer joined ABB's executive committee in 2005 and was named responsible for DM in 2009. He has since led a "doubling of the division's revenues by organic and inorganic means", and the integration of ABB's acquisition of Baldor, said ABB. According to the company, 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. A successor to his role in DM will be announced in the upcoming months.
"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 chair 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."
"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," said Hogan.
Prior to taking over DM, Spiesshofer was responsible for Corporate Development, leading strategy development and implementation across the power and automation businesses, in very close collaboration with all of ABB's teams. This included ABB's roadmap for mergers and acquisitions and the formation of ABB's technology venture arm.
"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."
