Zurich / CH. (abb) ABB Chief Executive Officer Fred Kindle is leaving the company due to irreconcilable differences about how to lead the company. The Board of Directors named Chief Financial Officer Michel Demare as interim CEO. Kindle joined the company in September 2004 and took over as President and CEO in January 2005. He oversaw a period of strong organic growth and a return to profitability at ABB. The Board fully supports the strategic targets announced in September 2007 and is confident in the Executive Committee´s ability to drive the strategy forward. The Board will immediately begin the search for a successor. «The Board is very thankful to Fred Kindle for driving the company to the extraordinary level of performance it achieved over the last three years», Chairman Hubertus von Gruenberg said. «He successfully streamlined and strengthened the company´s operations around the world. Under his leadership, ABB today is a leading company in respect of growth, profitability and business ethics».
OTHER TOPICS FROM THIS SECTION FOR YOU:
- ADM: Appoints EVP and Chief Financial Officer
- Position change: Chipotle announces new CFO
- Delivery Hero announces interim Chief Financial Officer
- McCormick: Announces Executive VP and CFO
- Cloetta: Confectionery Group appoints country manager
- Fazer Group: announces Chief Procurement Officer
- Little Caesars And Ilitch Announce Key Technology Promotions
- Sweden Won The 52nd UIBC World Championship Of Young Bakers
- CKE Restaurants: Appoints Chief Technology and Growth Officer
- RBI: Announces Election of Directors
- «ezCater»: Names Chief Revenue Officer
- Schwan’s Company: names new Chief Executive Officer
- Post Holdings: Announces Upcoming Leadership Changes
- RBI: Appoints Senior Advisor in Asia-Pacific Region
- KKD: announces Chief Legal Officer
- Nomad Foods: appoints new Chief Financial Officer
- Rohlik Group: announces new Chief Technology Officer
- Ardent Mills: Names new Chief Executive Officer
- Wendy’s: Company announces management optimization
- Kesko: announces changes to the Group’s Management Board