ABB Selects Chairman Peter Voser to Serve as Interim CEO

April 17, 2019

3 Min Read
ABB Selects Chairman Peter Voser to Serve as Interim CEO
Peter Voser, the interim CEO of ABB Group. Image courtesy of ABB

Industrial technology firm ABB Group announced Wednesday that the chairman of its board, Peter Voser, will serve as interim chief executive officer as the company’s current head, Ulrich Speisshofer, prepares to step down. The change goes into effect immediately.

“I would like to personally thank Ulrich for his dedication and commitment to ABB’s customers and employees not only as CEO but also in other executive roles at ABB since 2005,” Voser said in a press release. “Under his leadership, ABB has been transformed into a global technology leader focused in digital industries. He strategically repositioned the company and built up growth momentum across all businesses. We wish him all the best for his future endeavors.” 

Speisshofer and ABB’s board mutually agreed on his departure, the company said. In addition to the new appointment, ABB launched an official search for a new CEO.

“After 14 years of ‘all in’ dedication and commitment to all our employees and customers, I hand over to Peter a trimmed ABB ship that is on a clear course and gaining speed,” Speisshofer said in a statement.

Voser has served as ABB’s chairman since 2015 and formerly was CEO of Royal Dutch Shell from 2009 to 2013. He served as the petroleum company’s chief financial officer from 2004 to 2009. Prior to joining Shell, he occupied the role of CFO at ABB from 2002 to 2004. The new interim CEO has also served on the boards of IBM, Roche, Catalyst, Temasek Holdings, and PSA International in Singapore. 

“We will continue to focus on implementing ABB’s strategy and delivering value to all our stakeholders. To achieve our key financial targets, we will proceed with the divestment of ABB’s Power Grids business as planned, simplify the organizational structure of the group and deliver cost savings,” said Voser. “Finally, our four new leading businesses will be fully dedicated to meet our customer needs for digitalization, electrification, automation, and robotics.”

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