1. ABB Names Voser as Interim CEO After Spiesshofer Quits

    ABB Names Voser as Interim CEO After Spiesshofer Quits

    (Reuters) - ABB Chief Executive Ulrich Spiesshofer has quit the Swiss industrial group as the board and major shareholders look for a speedier turnaround at the maker of industrial robots and supplier of factory automation. Spiesshofer's abrupt exit follows the launch of the biggest overhaul in ABB's 31-year history to reposition the company more toward digital industries and agreeing to activist shareholder demands to sell its power grids business...

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    1. If the board, including Mr. Spiesshofer and the executive committee look at our performance over the last few years on a competitive basis, we are not where we would like to be.
    2. It is normal when you do such big transactions like we did with Hitachi in December... and the way we launched the new business in April that a board looks ahead for the next few years.
    3. We support the board's decision that now is the right time for a new person at the helm in order to speed up the execution of the new strategy and deliver on the key financial targets.
    4. We support the strategic direction of ABB, and have full confidence in Peter Voser and the management team to continue implementing the transformation of ABB.
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