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17 July 2008 ABB today announced the appointment of Joseph Hogan as its new chief executive after months of searching to replace Fred Kindle, who stepped down in February.
ABB, which is a leading supplier of power and automation technologies, said in a statement that Hogan, aged 51, would join the company on September 1 2008.
Hogan is a US citizen and is currently CEO of GE Healthcare, a leading medical diagnostic technology and biosciences company, and is a member of the General Electric Co. (GE) Senior Executive Council.
"I am honored to become ABB's CEO", said Hogan. "I'm deeply committed to ABB's drive to increase energy efficiency and industrial productivity for its customers. I look forward to leading the Company to the next stage of its development and success together with the team at ABB".
Michel Demaré, the group's chief financial officer, who has held the CEO position on an ad interim basis since February, is to continue to serve as ABB's CFO.
ABB said earlier this year that Kindle was leaving the group because of "irreconcilable differences of opinion about how to lead the company".
Just yesterday ABB announced that net income for 2007 had more than doubled to SFr4.18bn ($3.8 bn) compared with SFr1.54 bn in 2006
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