All other members of the Board to stand for re-election at annual meeting
Zurich, Switzerland, Feb. 23, 2007 - The Board of Directors of ABB nominated Hubertus von Grünberg to succeed Jürgen Dormann as Chairman and announced that all other Board members will stand for re-election.
Shareholders, who elect Board members for a one-year term, will vote on the nominations at the annual general meeting (AGM) on May 3, 2007. The Board unanimously proposed Von Grünberg to replace Dormann, who announced in December 2006 that he will resign after completing his current term as Chairman in May.
Dormann joined the ABB Board in May 1998 and was nominated Chairman in November 2001. From September 2002 to December 2004, he also served as ABB chief executive officer. The other members of the ABB Board are Roger Agnelli, Louis R. Hughes, Hans Ulrich Märki, Michel de Rosen, Michael Treschow, Bernd W. Voss, and Jacob Wallenberg.
Von Grünberg has been Chairman of the Board of Continental AG, based in Germany, since 1999, and was the company's President and CEO from 1991 until June 1999. He started his career at Alfred Teves GmbH, Germany, where he pursued an international career and became President and CEO of ITT-Automotive Inc. of the United States.
ABB (www.abb.com) is a leader in power and automation technologies that enable utility and industry customers to improve performance while lowering environmental impact. The ABB Group of companies operates in more than 100 countries and employs about 108,000 people.