August 12, 2019 / 5:43 AM / 10 days ago

ABB's largest shareholder pleased with new CEO appointment

FILE PHOTO: The logo of Swiss power technology and automation group ABB is seen in Zurich, Switzerland February 28, 2019. REUTERS/Arnd Wiegmann/File Photo

ZURICH (Reuters) - ABB’s largest shareholder Investor AB is pleased with the appointment of Bjorn Rosengren as the new chief executive of the engineering group, the Swedish investment company said on Monday.

“We welcome the appointment of Bjorn Rosengren, who we believe is the right person to lead ABB during the next phase of its journey,” said Johan Forssell, CEO of Investor which holds an 11.2% stake in ABB.

“From his previous leading roles in several companies, he has a proven track record in driving a decentralized culture, improving performance and delivering value.”

Reporting by John Revill; Editing by Thomas Seythal

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