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ABB - Abb News Story

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Sector
Industrials
Size
Large Cap
Market Cap £48.25bn
Enterprise Value £49.51bn
Revenue £18.97bn
Position in Universe 189th / 6846

ABB shareholder Cevian fully supports CEO appointment

Mon 12th August, 2019 7:35am
ZURICH, Aug 12 (Reuters) - Activist investor shareholder
Cevian on Monday said it fully supported the appointment of
Bjorn Rosengren as the new Chief Executive at ABB.
    Cevian, ABB's second largest shareholder with a 5.3% stake,
had been critical of ABB's complicated structure and had
campaigned for a separation of its power grids business.
    "We fully support the appointment of Bjorn Rosengren as new
CEO of ABB," said Cevian co-founder Lars Forberg. "He has the
right experience and leadership style to successfully drive
ABB's transformation and strategy."

 (Reporting by John Revill
Editing by Thomas Seythal)
 ((John.Revill@thomsonreuters.com; +41 58306 7022; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))
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