Sulzer’s chief to be named ABB’s CEO in January 2005
Zurich, Switzerland—ABB Group reports that Fred Kindle will be its next CEO. He will join ABB on Sept. 1, 2004, and will formally replace Jürgen Dormann as CEO in January 2005.
Zurich, Switzerland— ABB Group reports that Fred Kindle will be its next CEO. He will join ABB on Sept. 1, 2004, and will formally replace Jürgen Dormann as CEO in January 2005. Kindle is presently CEO of Sulzer AG, a Switzerland-based technology company.
Dormann, who has been ABB’s CEO since September 2002, will revert to the single role of ABB’s board chairman in January 2005. He had already announced that his successor would be named during 2004.
“The board of directors is very pleased that Fred Kindle has agreed to take on this challenging and exciting task,” says Dormann. “I and my fellow board members are convinced that he will provide the right leadership, and we look forward to working with him.”
The board’s nomination and compensation committee conducted a careful and extensive search for a new CEO over the past year. A number of external and internal candidates were reviewed.
Kindle adds that, “I look forward to my new task at ABB. The know-how and commitment of the people at ABB, the reputation of the ABB brand and the strong global market position of the company provide an excellent foundation for an exciting and successful future.”
While serving as Sulzer’s CEO, Kindle led the company through a period of fundamental, strategic realignment. He has been with Sulzer AG since 1992. In 1999, he became responsible for Sulzer Industries, before being appointed CEO of Sulzer AG two years later. He was elected to the board of directors in 2003.
Control Engineering Daily News Desk
Jim Montague, news editor