German made new ABB chair

Swiss-Swedish engineering group ABB said on Friday that its board had appointed Hubertus von Grünberg, chairman of German tyre maker Continental, to head its own board from May.

Von Grünberg, 64, was unanimously proposed to replace current chairman Jürgen Dormann, who has held the post since 2002.

Dormann also held the post of chief executive officer from 2002 until 2005, when he was replaced by Fred Kindle.

All other board members will stand for re-election, the company said in a statement.

Shareholders will vote on the proposals at ABB’s annual general meeting on May 3.

Von Grünberg has been board chairman of Continental since 1999, and prior to that he was the company’s chief executive for eight years.