ABB executive to quit after five-year tenure

Swiss-Swedish engineering giant ABB said on Friday its chief executive Joe Hogan had decided to leave the company "for private reasons," but stressed he would remain on board until a successor had been found.

ABB executive to quit after five-year tenure

“I have informed the board that I have decided to leave ABB. This has been a difficult decision,” Hogan, who took over the helm of the company in 2008, said in a statement.

ABB said no date had yet been set for Hogan’s departure and that he would stay on until a successor had been announced.

“He is committed to a smooth transition,” the company said.

Born in 1957, Hogan spent 23 years at US group General Electric before moving to ABB five years ago.

During his tenure, the Swiss-Swedish engineering behemoth has invested around $20 billion in strengthening the company, including in a number of acquisitions and in expanding research and development.

“Under Joe’s leadership ABB’s competitiveness has significantly improved by investing boldly in measures to drive growth and innovation, and by carefully managing costs,” company chairman Hubertus von Gruenberg said.

He hailed Hogan as “a great and successful CEO (who) has done a remarkable job of leading the company through the deepest economic crisis in living memory.”

AFP/The Local/at

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Swedish engineers buy French software firm

ABB took another step into the building-automation market by purchasing Toulouse-based Newron System for an undisclosed sum, the Swiss-Swedish engineering giant announced on Monday.

Swedish engineers buy French software firm

“We are buying state-of-art software and know-how,” ABB spokesman Hans-Georg Krabbe said in a statement.

Toulouse-based Newron System has annual sales near the tune of $10 million worth of software, which enables devices, such as blind controls and lights, to communicate with each other and to be managed centrally.

The acquisition supports ABB’s strategy in the growing automation market for buildings, which is to expand its market reach and offering for channel partners. Newron System’s software complements ABB’s product range by adding flexible automation solutions to the offering. The company said Newron would be integrated into the company’s Low Voltage Products (LP) division.

“Newron System’s premium building-automation software solutions will gain worldwide reach through ABB’s broad sales network,” said LP head Hans-Georg Krabbe, adding that the purchase was also set to add products to the company’s offering of building-automation solutions.

Newrom System’s managing directors, Serge Le Men and Daniel Zotti, welcomed the buy, stating it would help Newron “extend its reach”.

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