Ulrich Spiesshofer has stepped down as CEO of ABB – a role he has held since 2013.

The Chairman of the Board, Peter Voser will become interim CEO in addition to his current role, with immediate effect. The Board has initiated a search to find a new CEO.

Mr Spiesshofer’s shock departure comes after the announced sale of ABB’s power-grid division to Hitachi Ltd for about US$6.4 billion late last year.

The sell-off is part of ABB’s plan to focus more on robotics and automation.

Mr Voser said ABB will continue to focus on implementing ABB’s strategy and deliver value to all its 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. Finally, our four new leading businesses will be fully dedicated to meet our customer needs for digitalization, electrification, automation and robotics.”

Mr Voser thanked Mr Spiesshofer 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.

“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 endeavours.”

Taking time out

Mr Spiesshofer, 55, thanked his colleagues, customers and partners globally as well as the Board of Directors for the opportunity to serve the company.

“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,” he said.

“I will now take some time out before deciding on the next chapter of my professional life.

“From the bottom of my heart, I wish ABB’s global team all the very best for its future.”

Peter Voser, a Swiss citizen, has been Chairman of ABB since April 2015.

ABB will hold its Annual General Meeting in Zurich on May 2.

With a history of innovation spanning more than 130 years, ABB is a leader in digital industries with four customer-focused, globally leading businesses: Electrification, Industrial Automation, Motion, and Robotics & Discrete Automation, supported by its common ABB Ability™ digital platform 

ABB operates in more than 100 countries with about 147,000 employees. www.abb.com