ABB Appoints Dormann New President/CEO

September 17, 2002 by Jeff Shepard

The board of directors of ABB Inc. (Zurich, Switzerland) announced that Jürgen Dormann, chairman of the board, will assume operational leadership of the ABB Group immediately, aiming to speed up effective implementation of the company strategy. Jürgen Centerman has resigned as ABB president and CEO, and as a member of the ABB board of directors.

Dormann commented, "ABB will take advantage of its excellent market positions, customer relationships and sales organizations. We will energize our teams to better capitalize on these strengths, speed up implementation and increase the effectiveness in executing our strategy. At the same time, we will work hard to rebuild investors’ confidence, with a strong emphasis on improving operational performance and transparency."