ABB recently announced a new overall strategy to accelerate growth in earnings through 2020, which also includes a reorganization and shifting of several leadership positions within the company.
From the press release issued yesterday:
ABB will continue to build on its leading power and automation portfolio, which will be managed in its business units under the leadership of the five divisions. As of January 2015, its regional structure will be streamlined to three regions responsible for customer collaboration, shared services and the related countries. “These moves will improve customer focus as well as productivity, result in clear responsibility and accountability and drive market oriented collaboration,” said Spiesshofer.
In line with its Next Level strategy, the company is aligning its Executive Committee (EC) structure. Peter Terwiesch, currently head of ABB in Central Europe and Germany, has been appointed EC member responsible for the Process Automation division. The three newly created regions will be led by experienced EC members – Frank Duggan (Asia, Middle East and Africa), Greg Scheu (Americas) and Veli-Matti Reinikkala (Europe). All changes are effective Jan. 1, 2015.
David Constable, the CEO of Sasol, has been nominated to the Board of Directors for election at the 2015 Annual General Meeting. He brings a wealth of experience to the Board in EPC businesses and process industries as well as strong links to Africa, an important growth region for ABB.
You can read the entire press release here.
The addition of Constable to the Board of directors is a step in the right direction and is indicative of the company’s commitment to the oil and gas industry moving forward.
Edit: You can download the presentations from the investor conference here.
ABB Launches Next Level Strategy