Management changes at ABB

ABB in Zurich has announced that their Chief Executive Officer, Joe Hogan, has decided to leave ABB for private reasons. A date for his departure has not yet been decided. Hogan will continue to lead ABB until a successor is announced, as he is committed to a smooth transition.

“Joe is a great and successful CEO and has done a remarkable job of leading the company through the deepest economic crisis in living memory. ABB today is in a much better position than it was when he joined five years ago,” said Chairman Hubertus von Grünberg. “I know this has been a tough and difficult decision for Joe and the Board sincerely regrets that Joe will be leaving the company.”

Hogan joined ABB as CEO in September 2008. During his time at the helm, ABB has invested about $20 billion to strengthen the company. Major investments have been made in acquisitions and in R&D to help secure ABB’s technological leadership in power and automation.

“Under Joe’s leadership ABB’s competitiveness has significantly improved by investing boldly in measures to drive growth and innovation, and by carefully managing costs,” von Grünberg added.

The comment from Joe Hogan was that “I have informed the board that I have decided to leave ABB. This has been a difficult decision as I leave behind a strong and talented Executive Committee and a cohesive Board whose support I could always count on. I look forward to making a smooth transition with as little disruption as possible to the positive momentum that ABB has established.”

Chief Technology Officer also resigns

Three days later in another press announcement ABB advised that their newly appointed Chief Technology Officer, Prith Banerjee, who joined ABB in 2012, has decided to leave ABB for family reasons. He will be relocating to the United States where he will be taking another position outside the company. Banerjee will leave in the next few weeks, and a successor will be announced in due course.

“Prith has brought new momentum to ABB’s research and development activity,” said CEO Joe Hogan. “I regret Prith’s decision to leave the company. I’d like to thank him for his contribution and wish him all the best for the future.”