Swedes return to ABB board
6 Sep 2005, 11:29
Published: 06 Sep 2005 11:29 GMT+02:00
ABB forecast a year on year increase in turnover of 5% up to 2009. The figure does not take into account the selling off or acquisition of subsidiaries or the effects of exchange rates. The Swiss-Swedish group anticipates that margins after tax will increase at the same rate.
The group is also to undergo a restructuring. The current division of operations into power and automation is to be replaced by ten business areas. One management layer will be shed and a new unit to improve regional co-ordination is being set up.
Three Swedes, Tom Sjökvist, Anders Jonsson and Samir Brikho, will take their seats on the new ABB board in the new year. Sjökvist will head up Automation Products, Anders Jonsson will lead the Robotics division and Samir Brikho will lead Power Systems as well as retaining his current job at ABB Lummus Global.