ABB Ltd
23 February 2007
ABB Board proposes Hubertus von Grunberg as its new Chairman
All other members of the Board to stand for re-election at annual meeting
Zurich, Switzerland, Feb. 23, 2006 - The Board of Directors of ABB nominated
Hubertus von Grunberg to succeed Jurgen Dormann as Chairman and announced that
all other Board members will stand for re-election.
Shareholders, who elect Board members for a one-year term, will vote on the
nominations at the annual general meeting (AGM) on May 3, 2007. The Board
unanimously proposed Von Grunberg to replace Dormann, who announced in December
2006 that he will resign after completing his current term as Chairman in May.
Dormann joined the ABB Board in May 1998 and was nominated Chairman in November
2001. From September 2002 to December 2004, he also served as ABB chief
executive officer. The other members of the ABB Board are Roger Agnelli, Louis
R. Hughes, Hans Ulrich Marki, Michel de Rosen, Michael Treschow, Bernd W. Voss,
and Jacob Wallenberg.
Von Grunberg has been Chairman of the Board of Continental AG, based in Germany,
since 1999, and was the company's President and CEO from 1991 until June 1999.
He started his career at Alfred Teves GmbH, Germany, where he pursued an
international career and became President and CEO of ITT-Automotive Inc. of the
United States.
ABB (www.abb.com) is a leader in power and automation technologies that enable
utility and industry customers to improve performance while lowering
environmental impact. The ABB Group of companies operates in more than 100
countries and employs about 108,000 people.
A picture and CV of Hubertus von Grunberg are available at www.abb.com/news
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.