Spiesshofer named new CEO at ABB
Will succeed Hogan; success in Baldor integration cited as key to appointment
Moving quickly to fill the vacancy left by the resignation last month of CEO Joe Hogan, the ABB board of directors have named Ulrich Spiesshofer to succeed Hogan.
Spiesshofer currently runs the company’s discrete automation and motion. Company officials said in a press release that Spiesshofer’s role in helping integrate Baldor into ABB’s operation following the acquisition of the motor company, and his success in improving the robotics and discrete automation and motion division were factors in his appointment.
“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.”
“Ulrich has done a tremendous job in DM based on the solid knowledge and experience acquired in many successful years within ABB and outside,” added Hogan. “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.”
Spiesshofer will officially succeed Hogan on Sept. 15, while the company said Hogan will remain with the company as a senior advisor for an unspecified period of time.
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Read more: 2015 Salary Survey