—
ZURICH, SWITZERLAND,
FEBRUARY 23,
2024
ABB appoints Morten Wierod
to
succeed Björn Rosengren
as CEO
Ad hoc Announcement pursuant to Art. 53 Listing Rules of SIX Swiss Exchange
The ABB Board of Directors has appointed Morten Wierod as Chief Executive Officer. He will take office
on August 1, 2024, and succeed Björn Rosengren, who will step down from his position
as Chief Executive
Officer effective July 31, 2024, and retire as of December 31, 2024.
From August 1, 2024, until the end of the year, Björn Rosengren will advise and assist Morten Wierod and
the Executive Committee to ensure a seamless transition.
Morten Wierod (52), a Norwegian citizen, has been appointed by the Board following a thorough
selection
process. He joined ABB in 1998 and has been serving as a member of
ABB's Executive Committee since
2019, currently as President of the Electrification Business Area and previously
as President of the Motion
Business Area. Morten Wierod holds a Master's Degree in Electrical Engineering from the Norwegian
University of Science and Technology.
ABB Chairman Peter Voser
said: “I am pleased that after a competitive selection process we are
able to
name an outstanding internal candidate to lead ABB. Morten is a strong
successor to Björn with his deep
understanding of ABB and our decentralized operating model in addition
to his extensive expertise across
our key customer segments and strong performance track record. Under
Morten’s leadership, ABB will
continue to focus on our key priorities while our new financial
and sustainability targets remain firmly in
place.
“At the same time, the Board is extremely grateful to Björn for his outstanding
leadership over the past four
years. He was instrumental in aligning ABB’s business portfolio to our purpose and significantly improving
our financial and sustainability performance thanks to our ABB Way operating model. Björn will hand over
an efficient, more profitable and faster growing ABB.”
Morten Wierod commented: “I am grateful that the Board has given me the opportunity to
lead this great
company with its people and technologies that are at the heart
of building a low-carbon ociety. It has been a
privilege to work alongside Björn over the past years. After
we have set more ambitious financial and
sustainability standards not long ago, I will continue building on our decentralized
operating model to
capture the full potential of our market leading positions in electrification and automation.”
Björn Rosengren commented: “It has been an honor to lead ABB over the past
years and I am convinced that
the company will be in good hands with Morten. Together with our more than 105,000 people, we have
transformed ABB into an agile and purpose-driven leader in electrification
and automation that has an
important role in helping to accelerate the energy transition. I am convinced that
ABB is in a unique position
to seize the opportunities ahead.”
A search process for Morten Wierod’s existing position as Business Area President Electrification will be
launched shortly.
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