Spiesshofer announced as CEO of ABB

Ulrich Spiesshofer has been appointed as Chief Executive Officer of ABB. Currently the head of ABB’s Discrete Automation and Motion (DM) division, Spiesshofer will succeed Joe Hogan in the CEO’s role in September.

Hogan will remain with ABB as Senior Advisor to the Board for several months following his handover to Spiesshofer.

Ulrich Spiesshofer.

Joining ABB’s Executive Committee in 2005, Spiesshofer was appointed as head of the DM division in 2009. He has overseen the company’s largest-ever acquisition and his work has led to a doubling of the division’s revenues. A replacement for Spiesshofer’s current position will be announced in due course.

According to ABB, business expansion activities that Spiesshofer has overseen have helped DM to grow faster than the market and to expand into new business areas. The planned acquisition of Power-One will make ABB a leading global supplier of solar inverters, the company says.

“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 ABB Chairman Hubertus von Grünberg. “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.”

“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.”

Spiesshofer has a master’s degree in Business Administration and Engineering and a PhD in Economics, both from the University of Stuttgart.