ABB CEO steps down abruptly in middle of group's overhaul

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ABB CEO steps down abruptly in middle of group's overhaulABB 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. Time ran out for Spiesshofer, who has led ABB since September 2013, following a conference call between board members on Tuesday evening.


Read More: https://news.yahoo.com/abb-names-voser-interim-ceo-spiesshofer-quits-045427216--sector.html

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