HVAC Breaking News

July 25, 2008: ABB Appoints Hogan as New CEO

ZURICH, Switzerland - The board of directors of ABB Ltd. announced that Joseph M. Hogan has been appointed as chief executive officer of the ABB Group. Hogan is currently CEO of GE Healthcare, a global leader in medical diagnostic technology and biosciences, and is a member of the GE Senior Executive Council. He will join ABB on Sept. 1, 2008.

Michel Demaré, ABB’s chief financial officer, who has held the CEO position on an interim basis since Feb. 13, 2008, will continue to serve as ABB’s CFO.

“Following our extensive search over the past months, the board of directors is very pleased with Joseph’s decision to take on this exciting role. His proven international track record as a highly successful leader at one of the world’s most respected technology companies will be a great contribution to the company as we continue to focus the organization on excellence in everything we do,” said Hubertus von Gruenberg, ABB’s chairman.

“The board and I would also like to thank Michel Demaré for his many contributions to ABB in this transitional period. We are very pleased with the direction of the company under Demaré’s guidance,” von Gruenberg said.

“I am honored to become ABB’s CEO,” Hogan said. “I am deeply committed to ABB’s drive to increase energy efficiency and industrial productivity for its customers. I look forward to leading the company to the next stage of its development and success together with the team at ABB.”

Hogan’s career at GE has spanned 23 years with a wide range of positions. He led GE Medical Systems and then GE Healthcare from November 2000, during which time he grew the business by $11 billion. Prior to that, he served as president and CEO of GE Fanuc Automation North America Inc., a global supplier of industrial controls systems. Previously, he held a number of key positions in sales, marketing, and product development at GE Plastics.

For more information, visit www.abb.com.

Publication date: 07/21/2008

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