ABB Ltd
11 August 2000
ABB Corporate Communications, Zurich ABB Investor Relations, Zurich
John Fox Ann-Sofie Joensson
Tel: +41 1 317 7371 Tel +41 1 317 7266
Fax: +41 1 317 7958 Fax:+41 1 311 7918
john.fox@ch.abb.com investor.relations@ch.abb.com
For your business and technology editors
ABB appoints R&D head to the Group executive committee
Global technology Group boosts focus on technology and R&D
ZURICH, Switzerland, August 11, 2000 - ABB, the global technology group, today
announced it has made Markus Bayegan executive vice-president and member of the
ABB Group executive committee, with responsibility for worldwide research and
development.
Bayegan, 56, has headed ABB's research and development and technology as senior
corporate officer since 1998. Prior to that, he worked in a broad spectrum of
senior management positions throughout ABB's research and development area. From
1991 to 1997, Bayegan was president of ABB Corporate Research in Norway and
senior vice-president for R&D in three key business segments - power
distribution, oil, gas & petrochemicals and building technologies. Bayegan
joined EB Corporation, which later became ABB in Norway, in 1981.
Bayegan was born in Iran and is now a Norwegian citizen. He holds a PhD in
computer science and degrees in electrical engineering and electronics. Bayegan
was educated in Austria, the United States and Norway, and was visiting research
associate at Stanford University in California. He is also the author and
co-author of several publications in areas such as electronics, computer science
and information technology.
ABB president and CEO Goran Lindahl said Bayegan brings both a deep technology
insight and a broad overview of the opportunities that lie ahead for the global
group.
'Markus has an unusually strong track record of managing research and
development in areas like electronics and computer science,' said Lindahl. 'His
expertise matches our efforts to make ABB a truly knowledge-based and service-
oriented technology company. And, his multicultural background brings valuable
diversity to our strategic management team.'
Bayegan's appointment is effective immediately. The ABB executive committee team
will be consequently increased to eight members.
The ABB Group serves customers in power transmission and distribution;
automation; oil, gas, and petrochemicals; building technologies; and in
financial services. With novel IT applications, tailored software solutions,
growing eBusiness and a fast-expanding knowledge and service base, ABB is
building links to the new economy. The ABB Group employs about 160,000 people
in more than 100 countries.
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