HVAC Breaking News

June 17, 2013: ABB Appoints Ulrich Spiesshofer as CEO

He Will Succeed Joe Hogan on Sept. 15

June 17, 2013
ZURICH, Switzerland — The board of ABB has appointed Ulrich Spiesshofer, the head of its Discrete Automation and Motion (DM) division, as chief executive officer, succeeding Joe Hogan in this role on Sept. 15, 2013. Hogan will continue with ABB for some months as senior advisor to the board.

Spiesshofer joined ABB’s executive committee in 2005 and was named head of DM in 2009. He has led a doubling of the division’s revenues, and the integration of Baldor, ABB’s largest ever acquisition. He has increased profit margins through a turnaround in Robotics, as well as the profitable growth of motors and drives activities.

“ABB has developed a strong bench of talent: I am extremely pleased that the new CEO comes from within the company, and brings a solid track record and deep knowledge of the portfolio,” said Hubertus von Grünberg, ABB chairman. “Ulrich has been a key force in shaping and implementing ABB’s strategy, and the integration of Baldor stands out as a benchmark for successful large acquisitions.”

Spiesshofer also initiated other business expansion activities in DM based on organic growth and acquisitions. These have helped DM to expand into new business areas such as e-mobility and uninterruptible power supplies (UPS). The planned acquisition of Power-One would make ABB a leading global supplier of solar inverters.

Hogan said, “Ulrich has done a tremendous job in DM based on the solid knowledge and experience acquired in many successful years within ABB and outside. With his strong contribution and team-oriented collaboration, our mid-term strategy has been making great progress.”

“I am excited about the opportunity to lead ABB and serve our customers, building on Joe’s success,” said Spiesshofer. “I am looking forward to keep working with all my colleagues in the executive committee and the entire ABB team. Together, we will continue to drive profitable growth and relentless execution for the company.”

For more information, visit www.abb.com.

Publication date: 6/17/2013

Want more HVAC industry news and information? Join The NEWS on Facebook, Twitter, and LinkedIn today!

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

2014 MCAA Annual Convention

Scenes from the 2014 MCAA Annual Convention in Scottsdale, Ariz.

Podcasts

NEWSmakers: Julian Scadden

Training is an ongoing process. Julian will discuss how you can generate maximum return on time and energy invested training by following a three part process. Listen to this podcast to get expert tips on training, tracking and follow up. 

More Podcasts

THE MAGAZINE

ACHRNEWS

NEWS 04-14-14 cover

2014 April 14

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

SERVICE CALLS POLL

Which statement on service calls best applies to your business?
View Results Poll Archive

HVACR INDUSTRY STORE

plumbing-hvac.gif
2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research

 

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

DON'T MISS A THING

Magazine image
 
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.

STAY CONNECTED

facebook icontwitter iconyoutube iconLinkedIn i con