ABB appoints Hogan as new CEO
The engineering concern ABB has appointed Joseph Hogan as its new chief executive after months of searching to replace Fred Kindle, who stepped down in February.
ABB, which is active in power and automation technologies, said in a statement on Thursday that Hogan, aged 51, would join the company on September 1.
Hogan, a United States citizen, has been at GE for 23 years and has led both its medical systems and healthcare units since November 2000.
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”.
His departure came a day after the group announced that net income for 2007 had more than doubled to SFr4.18 billion ($3.8 billion) compared with SFr1.54 billion in 2006.
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