ABB Names Peter Voser as Interim CEO; Ulrich Spiesshofer Steps Down

ZURICH–(BUSINESS WIRE)–The Board of Directors of ABB and its CEO Ulrich Spiesshofer (55) have
mutually agreed for him to step down from his role, which he has held
since 2013. The Chairman of the Board, Peter Voser (61), will become
interim CEO in addition to his current role with immediate effect. An
official search to find a new CEO has been initiated.

Peter Voser: “On behalf of the Board and the employees of ABB, I would
like to personally thank Ulrich for his dedication and commitment to
ABB’s customers and employees, not only as CEO, but also in other
executive roles at ABB since 2005. Under his leadership, ABB has been
transformed into a global technology leader focused in digital
industries. He strategically repositioned the company and built up
growth momentum across all businesses. We wish him all the best for his
future endeavors.”

Voser added: “We will continue to focus on implementing ABB’s strategy
and delivering value to all our stakeholders. To achieve our key
financial targets, we will proceed with the divestment of ABB’s Power
Grids business as planned, simplify the organizational structure of the
group and deliver cost savings. Finally, our four new leading businesses
will be fully dedicated to meet our customer needs for digitalization,
electrification, automation and robotics.”

Ulrich Spiesshofer: “After 14 years of ‘all in’ dedication and
commitment to all our employees and customers, I hand over to Peter a
trimmed ABB ship that is on a clear course and gaining speed. I would
like to warmly thank our colleagues around the world, customers and
partners as well as the Board of Directors for the opportunity to serve
this fine company for nearly one and a half decades in different roles
in the Executive Committee and as CEO. I will now take some time out
before deciding on the next chapter of my professional life. From the
bottom of my heart, I wish ABB’s global team all the very best for its
future.”

Peter Voser, a Swiss citizen, has been Chairman of ABB since April 2015.
Prior to this, he was CEO of Royal Dutch Shell from 2009-2013, and CFO
between 2004-2009. Between 2002 and October 2004, he was CFO of ABB and
a key leader behind the successful turnaround of the company. Voser also
brings a wealth of experience in board positions in leading companies
such as a Roche, IBM, Catalyst, Temasek Holdings and PSA International
in Singapore.

ABB will hold its Annual General Meeting on May 2, 2019, in Zurich, as
planned.

ABB (ABBN: SIX Swiss Ex) is a pioneering technology leader with a
comprehensive offering for digital industries. With a history of
innovation spanning more than 130 years, ABB is today a leader in
digital industries with four customer-focused, globally leading
businesses: Electrification, Industrial Automation, Motion, and Robotics
& Discrete Automation, supported by its common ABB Ability™ digital
platform. ABB’s market-leading Power Grids business will be divested to
Hitachi in 2020. ABB operates in more than 100 countries with about
147,000 employees. www.abb.com

This information is information that ABB is obliged to make public
pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set
out below, at 6.45 a.m. CEST on April 17, 2019.

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Email:
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